Live in MA, invest in FL. Tax CPA?

Tax, SDIRAs & Cost Segregation
4yFollow

Live in MA, invest in FL. Tax CPA?

Nick Johnson
Investor · Ormond Beach, FL · Member since 2015 · 24 posts · 8 votes

Hi all,

I live in MA and bought 2 rentals in FL last year. How should I think about filing taxes to make sure I am getting the best bang for my buck?

I’ve been using a CPA here in MA to do my taxes for the past 5 years or so, but he doesn’t specialize in real estate investment and I’m certain has no clue about FL. 

Any advice would be appreciated. 

Thanks!

1Reply
32 views

4 Replies

Jump to latestLatest
  • Natalie KolodijBusiness Member
    Moderator
    Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes
    4y
    Florida doesn't have state tax

    So I would recommend looking for someone who specializes in REI- most of us work with clients all over the US. If you check out the right side of the forums it gives a list of top providers in the tax category 
    Podcast Guest on Show Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies
    Kolodij Tax & Consulting
    WebsiteView Page
    0Reply
  • Trevor Fleck
    Investor · Fort Collins, CO · Member since 2014 · 123 posts · 329 votes
    4y

    Hey @Nick Johnson where in FL are you investing? How is it going so far? 

    0Reply
  • Nick Johnson
    OP
    Investor · Ormond Beach, FL · Member since 2015 · 24 posts · 8 votes
    4y

    @Trevor Fleck Both deals were in Ormond Beach last year. It's going really well. The market is *still* currently a seller's market, but the deals I found made since and things just worked.

    0Reply
  • Jason Scavilla
    Ormond Beach, FL · Member since 2020 · 46 posts · 16 votes
    4y

    Hey Nick, 2 things, where in MA are you from and also I have my CPA down here who is involved in real estate who could probably help you. I sent you a connection, you can PM if you want :). I live here in Ormond and have 5 rentals (well buying my 4th and 5th, a duplex, as I type this, 3 SFR and 1 duplex :).

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free