A good real estate accountant in Hawaii?

Question

I'm looking for an accountant in Hawaii, does anyone know of a good one?

Daniel Hyman · Answer

If you aren't having luck locally, don't be afraid to go out of state. You'll expose yourself to a wider pool of professionals, which will give you a higher probability of finding a real estate expert as well as someone you want to work with.

Many of us have clients all over the US and even globally. Today's technology allows us to collaborate seamlessly with our clients. The only thing we can't do is shake your hand.

Daniel Hyman · Answer

A CPA offering services in a non-local state will know that state's tax laws. There is no real great advantage to a local provider, especially now in a Covid world. Also, most of the great tax advantages of real estate are on the federal side.

CPAs are licensed by state but aren't generally restricted from practicing in different states. Conversely, attorneys need a license in the specific state in which they wish to practice.

Sharon Carson · Answer

I have the same question as you, Kyle!  Have you found anyone yet?

Ashley Gundaker · Answer

@Kyle Keller

Melissa Clary with Key2Accounting - licensed in HI and CO.

Basit Siddiqi · Answer

@Kyle KellerTo answer your question - You do want to work with a professional who understands federal taxation, real estate taxation and your state taxation.

Most state tax laws follow the federal tax laws.Some states will adopt a majority of the federal tax laws and mention which ones they don't followSome states will have a completely different interpretation from taxes from the federal.My firm pays a lot for tax research software which tells us how the state tax laws differ from one state to another.

Andrew Rosenberg · Answer

@Kyle Keller I'll get a good referral for you, no problem.

Kyle Keller · Answer

@Lane Kawaoka

So you use out of state tax advisors? Does that worry you at all when investing in state?

Kyle Keller · Answer

@Daniel Hyman

Forgive my naivety, but are the tax laws not different in Hawaii? Wouldn't an accountant from Hawaii be best because they know the ins and outs of hawaii tax law? Or does state law not play as much of a part?

Lane Kawaoka · Answer

I never liked working with anyone in Hawaii. Too much island time :/

A good real estate accountant in Hawaii?

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