how to find a real estate accountant

6 Replies

Credentials don't always amount to capability, unfortunately. There are credentialed preparers who couldn't prep a 1040 with 90% of the return already complete, and there are uncredentialed preparers who can run circles around others.

It's most important to gauge their knowledge of real estate. Check out their online reviews, see if they help other investors and what those investors have to say.


Here's a great post with some questions to ask, and this will be far more useful than any credentials: 

Questions to ask a potential Accountant (biggerpockets.com)

@Vincent S.

There are two credentials that most sophisticated tax professionals have.
CPA(Certified Public Accountant) & EA(Enrolled Agent).
CPA designation is the more prestigious of the two.

There is no designation to indicate that he/she is a professional is 'real estate tax'.

I would have a casual conversation with the purchases that you made and how the rental is performing. 
Is he/she able to keep up with your conversation? If yes, he/she has an understanding of real estate.

There are some unique tax laws as it pertains to real estate - 1031 exchange, Cost segregation studies(bonus depreciation), Section 179 Expense, Real Estate Professional Status, etc

Best of luck

Originally posted by @Chelsea Monk :

Credentials don't always amount to capability, unfortunately. There are credentialed preparers who couldn't prep a 1040 with 90% of the return already complete, and there are uncredentialed preparers who can run circles around others.

It's most important to gauge their knowledge of real estate. Check out their online reviews, see if they help other investors and what those investors have to say.


Here's a great post with some questions to ask, and this will be far more useful than any credentials: 

Questions to ask a potential Accountant (biggerpockets.com)

Sorry, but your response does not make much sense.
It sounds like maybe you are generalizing maybe the worst 5% of CPA's who would not be able to complete a tax return.

Below are the credentials required to become a CPA for most states
1) Completion of 150 college credits
2) completion of 4 examinations on tax, law, business structure, accounting and assurance.
3) Annual CPE(Continuing and professional education courses)
4) 1-2 years of work experience working underneath a CPA.

The original poster is not looking for a bad CPA, he is looking for a qualified one.

Thanks

I have found that nothing replaces networking to find candidates to consider. Contact the most experienced real estate investors and syndicators you know or can find and ask them who they would refer you to. Save you a lot of time...