Happy Friday BP community!
My portfolio has outgrown my tax-filing, comfort level in 2020 and I am looking for a tax professional to hire. Since we are all on BP, I obviously am looking for someone who can maximize my real estate deductions. My current portfolio is seven units in San Antonio.
I moved to Virginia at the end of 2020 so my other question is, do I need a CPA that is close to my assets or close to my current address? Any and all information this great team can provide me will be appreciated.
Thank you in advance and thank you for your time.
@Anthony Finger as long as your accountant is familiar with CA tax law is shouldn't make a difference. My accountant does take on out of state clients and I recommend him highly. Yes he knows real estate very well. Jeffrey Stoller and Associates. in Catonsville MD. easy to find on Google.
I recommend finding an accountant that specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options.
I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.
Good luck and let me know if you have any questions.