First discussion post and new pro member here. Got that out of the way. I am looking for a great accountant near me. One that specializes in real estate (obviously since I'm here). I've reached out to few firms and didn't get the best vibe of their real estate knowledge from a quick phone interview. I won't name names since I don't want to tarnish their reputations. I'm looking in the Stark County Ohio area. Preferably near the Canton area.
I've always done my own taxes in the past including 2019 and it's getting too cumbersome. Plus I'm sure I'm leaving money on the table as far as deductions and credits are concerned. It's time to expand. I want to set up an LLC for my current rentals and possibly land trusts? Still doing my DD to know exactly what I want. My attorney told me to go see a CPA before she helps me set up the LLC so I know how to be taxed correctly from the beginning.
S Corp? C Corp? disregarded entity? Not sure. I'm savvy with finance from being self taught. However, I only know enough about accounting to be dangerous - which I'm trying to void...
Lastly, I have no clue how they charge for their services. Is it by the hour? Per Property? Per LLC? Do they typically bill you weekly, monthly or yearly? I'm sure the answers to those are all over the map depending on complexities of your portfolio.
Thank you in advance!
Welcome to Bigger Pockets.
Are you comfortable working with your accountant remotely?
If so, there are about 20 real estate accountants on this site.
Reach out to a few of us and see who you like.
Good luck and let me know if I can be of assistance.
I've never thought about that, but I'm open and willing to looking into it. I'll check out your website. I assume you or someone within your company is familiar with Ohio real estate tax codes?
@Tom Mickley I’m in Tallmadge, so not too far from you. Our local accountant is great and a real estate investor herself, so she’s up to date on all the current laws. If you’d like her contact info, shoot me a message!
Since you been preparing your tax return yourself, you will want your accountant to first review your prior year tax returns to make sure that they were prepared correctly.
They could have been prepared correctly or also incorrectly.
Regarding how the accountant will be paid - is it depends. It depends on the structure of the firm you choose.
Firms that normally provide round the clock service throughout the year like the monthly subscription model.
Other firms may charge based on the complexity of the return or based on the time they put into the work.
@Tom Mickley Hey Tom, I have a woman I work with out of the Brecksville area. I live in and invest in stark county and meet with her a time or two a year. The good, she's helped my wife and I out with everything you're looking to do and I believe her expertise is worth it. The bad, she is pricey for a small guy like me (10 units). but pretty cheap once I have more units. If you want her info, let me know.
I'm not opposed to calling her and having a conversation. What do you consider pricey? Can you send me her contact information when you get a chance?
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