Tax preparation for 2021

Tax, SDIRAs & Cost Segregation
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Tax preparation for 2021

Zacharee Carmack
Member since 2021 · 21 posts · 6 votes

Hopefully closing on a property on the 27th. When taking all of my documents to a CPA what are some of the questions i should ask about real estate tax and how it can help me?

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Kate Nixon Taylor
Lender · Cary, NC · Member since 2021 · 122 posts · 29 votes
4y

I am looking for a CPA too. I really appreciate Daniel's reply, and I plan to ask these questions in my CPA search. Thanks!!

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  • Daniel HymanBusiness Member
    CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
    4y

    1) Given my portfolio size, how can your firm be helpful?

    2) Are you available for consultations and strategy throughout the year?

    3) Do you work with many investors?

    4) What is the fee structure?

    5) What is the preferred method and frequency of communication?

    My Online Accountant572 Reviews
    WebsiteView Page
    2Reply
  • Kate Nixon Taylor
    Lender · Cary, NC · Member since 2021 · 122 posts · 29 votes
    4y

    I am looking for a CPA too. I really appreciate Daniel's reply, and I plan to ask these questions in my CPA search. Thanks!!

    2Reply
  • John Duston
    Accountant · Santa Barbara, CA · Member since 2016 · 213 posts · 66 votes
    4y

    1. Just talk to them to get a feel for if they have an understanding for your situation. 

    2. If they have experience with real estate investors

    3. If they can accommodate your future growth.

    4. Pricing and fee structure.

    1Reply
  • Account Closed
    Member since 2020 · 983 posts · 1k+ votes
    4y

    Ask, "how much is 1 + 1?" and when the CPA asks, "what do you want it to be", you found a good CPA!

    1Reply
  • Zacharee Carmack
    OP
    Member since 2021 · 21 posts · 6 votes
    4y
    Originally posted by @Account Closed:

    Ask, "how much is 1 + 1?" and when the CPA asks, "what do you want it to be", you found a good CPA!

    This has won the internet today for me.

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    4y

    @Zacharee Carmack

    Talk in Real Estate Lingo, is the CPA eligible to keep up and understand what you are saying? That is a good sense that he understands the real estate industry and will understand what questions to ask you to get you the most deductions.

    Take a look at his reviews and website - Do they mention real estate? 

    Best of luck to you in your search.

    [email protected]917-280-8544
    Basit Siddiqi CPA4.979 Reviews
    View Page
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