BiggerPockets

i am looking for a few good go zone cpa referrals, anyone??

thanks for the response however you are wrong on several levels regarding cashflow in alabama and MS. we are a real estate investing firm, and we have projects there and most of them are corporate rentals that DO cashflow. that area for rentals is better than most projects in florida or arizona. i am looking for several go zone cpas to consult with for our clients. if you have anyone i would appreciate it. i looked at your website. we might be able to do business together.

thanks matt stearns

Matt and Will- we're going to part ways here on the GOZONE. I visited there in Dec, mar and again in July. There are a lot of sham companies from FL, BUT there are certain areas that are wonderful. Tx, AL and FL had small gozone areas , but those are all gone in 3 weeks. However, the so. 6 counties of MS are extended until at least 12-10, with certain conditions to meet. If Matt needs a CPA, pm me. I have the person who helped WRITE the Gulf Opportunity Act of 2005(gozone for short). He is a staunch LSU fan, so be prepared.
Again WILL, you go to go zone NOT for cash flow, but to keep the hard earned money you're making in CA. I will make hi 6 figures this year and pay ZERO income tax. That is why I'm in Go zone. I'm starting a 50 unit that will give me in excess of 1 mil in writeoff and I will pay NO taxes next year( unless I get the long term work force housing subsidy of 50K per door, but thats' a story for another day.
MS rocks is all I can say. You'll be hearing about the growth there for the next 5-10 years min. You just don't know what is going on. Watch out Port of New orleans, and watch out NJ gambling and watch out for a lotta other stuff. Google MS dev and you'll see what I mean.

You should help some of your hi rollers get in. Are you aware that "someone in the business" can carry loss forward up to 20 years. How about carrying it BACK 5 years, filing amended return and getting taxes refunded. I'll bet your Acct didn't even know that. I educate they over and over. Best kept secret around, imo.

Will- your high rollers will love you forever if they get taxes REFUBDED that they thought were history. Rich.

I know better than to think you're stupid!! We should be colleagues.
After Katrina destoyed gulf area, Bush signed a Gulf opportunity act of 2005. It gives additional bonus depreciation instantly on new properties built after Katrina. FIFTY % bonus. Build a 4 plex or buy one that qualifies and get 50 %. $400,000 improvement value, gets you normal depr. of about 15K in writeoff PLUS $200,000 more. It basically gives you dnpmt free if you're oweing taxes. There are even a couple other killer benefits; carry forward 20 years and if you qualify, carry BACKWARD and recapture taxes paid for 5 years. Thers' more too, but that is my bonus info for my colleagues , tic.

There are many more you need to watch out for than are any good. Most really and giving out false info. Watch out for the internet advertisers. I suggest going there (as I did) and interview accts, attorneys, realtors, builders etc. Some really are up on the program. Fantastic growth coming in that area due to huge amounts of money coming in and need for people to work.

I'm under contract on a couple projects, waiting for financing. IMO, the only people investing in Go Zone, should be those that don't need to live on cash flow, have other significant income and need writeoff. This fits me to a tee. Especially if you qualify as an investor or "in the business".