Tax And Real Estate Structure

Investor · Long Island, NY · Member since 2021 · 39 posts · 24 votes

Hi everyone,

Who is everyone using for tax and real estate structuring (LLC's, etc) in the Long Island area? Anderson is very expensive and not sure worth it for where I'm at (5 properties). Does anyone have recommendations for someone/company that is more reasonable?

Thanks in advance !

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Chris SeveneyBusiness Member

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Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes

Quote from @Cosmo DePinto:

Hi everyone,

Thanks in advance !

Honestly, at five properties, you might be overthinking it. Most investors I know start by buying in their personal name to get better mortgage rates and then layer on an insurance policy for asset protection.

Before spending thousands on a setup, just have a conversation with your CPA. They can walk you through what makes sense for your actual situation. No need to go full Anderson mode unless you're building a larger portfolio or have complex needs.

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Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
1y
Quote from @Cosmo DePinto:

Hi everyone,

Who is everyone using for tax and real estate structuring (LLC's, etc) in the Long Island area? Anderson is very expensive and not sure worth it for where I'm at (5 properties). Does anyone have recommendations for someone/company that is more reasonable?

Thanks in advance !

Honestly, at five properties, you might be overthinking it. Most investors I know start by buying in their personal name to get better mortgage rates and then layer on an insurance policy for asset protection.

Before spending thousands on a setup, just have a conversation with your CPA. They can walk you through what makes sense for your actual situation. No need to go full Anderson mode unless you're building a larger portfolio or have complex needs.
7e investments53 Reviews
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2 Reply
Cosmo DePinto
OP
Investor · Long Island, NY · Member since 2021 · 39 posts · 24 votes
1y
Thanks Chris
0 Reply
Mohammed Rahman
Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
1y
Got it. If Anderson feels like overkill for where you're at, you're not alone—plenty of investors in Long Island have said the same.
At your level (5 properties), you're definitely in a spot where structuring matters, but you don’t need to drop five figures just to get the basics right.
A few solid, more affordable options locals go with include R&G Brenner for general tax and LLC help, Rosenfeld & Co. CPAs who know the real estate game well, and Enzo Accounting & Tax out of Queens—hands-on and used to working with investors.
Also, don't sleep on local real estate attorneys—some will bundle LLC formation and basic structuring guidance for way less than the big national firms.
You want someone who understands NY laws, the liability piece, and how to set you up for tax advantages without upselling stuff you don’t need yet.
1 Reply
- Cosmo DePinto
  OP
  Investor · Long Island, NY · Member since 2021 · 39 posts · 24 votes
  1y
  Quote from @Mohammed Rahman:
  
  Got it. If Anderson feels like overkill for where you're at, you're not alone—plenty of investors in Long Island have said the same.
  At your level (5 properties), you're definitely in a spot where structuring matters, but you don’t need to drop five figures just to get the basics right.
  A few solid, more affordable options locals go with include R&G Brenner for general tax and LLC help, Rosenfeld & Co. CPAs who know the real estate game well, and Enzo Accounting & Tax out of Queens—hands-on and used to working with investors.
  Also, don't sleep on local real estate attorneys—some will bundle LLC formation and basic structuring guidance for way less than the big national firms.
  You want someone who understands NY laws, the liability piece, and how to set you up for tax advantages without upselling stuff you don’t need yet.
  Thank you Mohammed!
  0 Reply
Aaron ZimmermanBusiness Member
Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
1y
Entity structuring is important for sure but Anderson sometimes overcomplicates for smaller investors. They do bring a level of expertise that is helpful as they work with larger clients. I'd recommend working with someone more in your price range that can help with entity structuring if you're concerned with potential liability
[email protected]
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- Cosmo DePinto
  OP
  Investor · Long Island, NY · Member since 2021 · 39 posts · 24 votes
  1y
  Quote from @Aaron Zimmerman:
  
  Entity structuring is important for sure but Anderson sometimes overcomplicates for smaller investors. They do bring a level of expertise that is helpful as they work with larger clients. I'd recommend working with someone more in your price range that can help with entity structuring if you're concerned with potential liability
  Thank you Aaron !
  1 Reply
Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
1y
New York is a beast when it comes to taxes. Make sure you atleast work with a professional who is in the tri-state area who will more likely understand the NY state tax laws.

Some concepts in the NY area that are different than states
1) MCTMT Tax
2) NYC not recognizing S-Corp status
3) Differences between Federal / NY tax laws such as bonus depreciation

Best of luck!
[email protected]917-280-8544
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