Certified Public Accountant for beginners
I am a beginner real estate investor in Minneapolis, MN. I'm working on purchasing my first rental property, and I'm curious when is a good time to start talking to/working with a CPA. Any suggestions on how to find a CPA who specializes in real estate investing, or tips on this topic?
@Rachael Beissel It really depends on what you are currently doing (i.e. currently using an accountant vs Turbo Tax) and your future RE goals. I've got a few local recommendations I'd be happy to send you!
@Rachael Beissel @John Woodrich is the best in the cities, but unfortunately I think he is filled up. But he has some good recommendations so you can reach out to him. Or I can give you his email
Hi Rachel,
I would recommend you start talking to a CPA when you are in contract to purchase your property. You could reach out to someone beforehand but after you will have more questions to ask them and they can also talk to you about what and how you should start tracking expenses.
Quote from @Alyssa Strom:
@Rachael Beissel It really depends on what you are currently doing (i.e. currently using an accountant vs Turbo Tax) and your future RE goals. I've got a few local recommendations I'd be happy to send you!
I'm in a similar boat, I've been doing TurboTax for the past couple of years for my Saint Paul Duplex, but am wanting to get some additional help to maximize the tax advantages of real estate.
Do you have any recommendations in Saint Paul/Woodbury/East metro area? Thanks!