I would prioritize finding an accountant who specializes in real estate taxation over one that is local.There are 20+ accountants on this message board who specialize in real estate taxation.

If so, there are 20+ CPAs and accountants on this site that specialize in real estate taxation.

There are 20+ CPAs and accountants on this site that specialize in real estate taxation.

@Aaron PetersIt's more that you find a CPA that specializes in real estate taxation to ensure that your tax return is prepared accurately and that you get every deduction you're entitled to.

When I did the rental analysis taught in "The Book on Rental Property Investing" I see myself with a monthly cash flow of $325-ish of which (I think) almost 1/3 would be due as tax at the end of the year.

The IRA is exempted from income tax on passive rental income, but not necessarily other forms of state or local taxation. 

You’ll also owe depreciation recapture on $36,365, which will be taxed at your ordinary income rate.I believe Bernie wants 25% not including the regular taxation issues of investment property.

He is a 1031 agent and attorney who specializes in real estate and taxation law.

These add to your balance sheet net worth and is recouped upon divestment of the property.Things you need to subtract from cashflow to get profit:- Accrual for capital expenditures and maintenance (sometimes referred to as reserve)- Accrual for future vacancy- Depreciation if you are accounting for taxation purposes

Below are current mortgage and refi detailsprimary home - 15 year/3% fixed / still 12.5 years left / 310k outstandingrental - 30 year / 4.375 fixed / still 29 years left / 175k outstandingrefinance primary residence - 15 year/ 2.875 fixed / 485k loan / payoff rentalthe idea to payoff rental sounds exciting..but I am worried about the taxation..is it possible to deduct interest payments (approx 35%) when I file taxes in 2021?