Tax Consulting; HALL CPA, PROVISION, KEYSTONE ETC

Tax, SDIRAs & Cost Segregation
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Tax Consulting; HALL CPA, PROVISION, KEYSTONE ETC

Trevor DeSimone
Investor · NH · Member since 2021 · 39 posts · 34 votes

Hello BP Fam,

Like many here, I'm looking for a CPA to assist with not only my LLCs and out-of-state rental properties but my personal tax returns as well for 2023. I would also appreciate and benefit from tax consulting along with general tax planning. Through forums, references, and various means, I've spoken with the sales team of ProVision PLC, which quoted me a one-time $12,500 fee for initial consulting and roughly $3,000 a year to file; Hall CPA group pricing starts at $5,000, plus filing, and then a yearly $2,500 fee for continued services not counting filing. I have yet to speak to anyone from Keystone yet their website states their pricing starts at roughly $8,000 for direct consulting.
 
I have a small portfolio of two duplexes, far from a multi-million dollar enterprise and while I'm passionate about my RE investing and wish to expand, I can't seem to justify ten's of thousands of dollars on consulting (at this stage in the game) even though I believe it would be beneficial. 

Through the forums here I was told to search for CPA's that have BP profiles and that's my current plan. But thoughts?

Is there a service provider that I haven't listed that is similar to these groups? Has anyone used their services? Am I in the wrong seeking to pay less than what these services market themselves for?

Thanks for reading,

Trevor DeSimone

9Reply
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Chris Bird
Investor · AZ · Member since 2022 · 10 posts · 7 votes
4y
I'm with you completely on this.  I need strategic advice (and filing) but my situation doesn't warrant these big ticket prices.  No problem spending money but don't want to overspend on services that I just don't need.  Eventually, as my empire grows - absolutely!  But not yet.  

Like you, I've ruled out several already. 
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  • Chris Bird
    Investor · AZ · Member since 2022 · 10 posts · 7 votes
    4y
    I'm with you completely on this.  I need strategic advice (and filing) but my situation doesn't warrant these big ticket prices.  No problem spending money but don't want to overspend on services that I just don't need.  Eventually, as my empire grows - absolutely!  But not yet.  

    Like you, I've ruled out several already. 
    7Reply
  • Chris McCormack
    Accountant · Edina, MN · Member since 2020 · 172 posts · 97 votes
    4y

    Happy to chat @Trevor DeSimone

    3Reply
  • Michael PlaksPro Member
    Tax Accountant / Enrolled Agent · Houston, TX · Member since 2014 · 5k+ posts · 6k+ votes
    4y

    @Trevor DeSimone

    You can pay $5 for a lunch, and you can pay $200 for a lunch. Usually, they are not the same lunches. So I'd suggest three things:

    1. Get very clear about what services you're looking for:  https://www.biggerpockets.com/...

    2. Search this forum for "choosing CPA" - you will find dozens of older threads discussing this topic

    3. Wait until after October 15 to reach out to tax firms:  https://www.biggerpockets.com/...

    3Reply
  • Trevor DeSimone
    OP
    Investor · NH · Member since 2021 · 39 posts · 34 votes
    4y
    Quote from @Michael Plaks:

    @Trevor DeSimone

    You can pay $5 for a lunch, and you can pay $200 for a lunch. Usually, they are not the same lunches. So I'd suggest three things:

    1. Get very clear about what services you're looking for:  https://www.biggerpockets.com/...

    2. Search this forum for "choosing CPA" - you will find dozens of older threads discussing this topic

    3. Wait until after October 15 to reach out to tax firms:  https://www.biggerpockets.com/...


     You are very much correct sir! In a sense I expect to pay a premium for quality services and experience however I've yet to find that right equilibrium between price point and services I need. 

    I appreciate the links and the advice, can I ask why you suggest to wait until after October 15 to reach out to tax firms?

    1Reply
  • Trevor DeSimone
    OP
    Investor · NH · Member since 2021 · 39 posts · 34 votes
    4y
    Quote from @Chris McCormack:

    Happy to chat @Trevor DeSimone


    Hey Chris! Would like to chat as well, what's the best point of contact? 

    0Reply
  • Michael PlaksPro Member
    Tax Accountant / Enrolled Agent · Houston, TX · Member since 2014 · 5k+ posts · 6k+ votes
    4y
    Quote from @Trevor DeSimone:
    Quote from @Michael Plaks:

    @Trevor DeSimone

    You can pay $5 for a lunch, and you can pay $200 for a lunch. Usually, they are not the same lunches. So I'd suggest three things:

    1. Get very clear about what services you're looking for:  https://www.biggerpockets.com/...

    2. Search this forum for "choosing CPA" - you will find dozens of older threads discussing this topic

    3. Wait until after October 15 to reach out to tax firms:  https://www.biggerpockets.com/...


     You are very much correct sir! In a sense I expect to pay a premium for quality services and experience however I've yet to find that right equilibrium between price point and services I need. 

    I appreciate the links and the advice, can I ask why you suggest to wait until after October 15 to reach out to tax firms?


     Click on the the link in my original response to you, next to your #3 question. :)

    0Reply
  • Laura Barajas
    Member since 2021 · 4 posts · 8 votes
    3y

    @Trevor DeSimonedid you ever find a CPA to work with? I'm currently on the same journey and am evaluating the same firms but find that their prices are too high for someone that needs basic 101 accounting and tax strategies for a person that is just starting out. Feel free to PM me who you ended up choosing. 

    4Reply
  • Vikram Singh
    Investor · Sacramento, CA · Member since 2017 · 58 posts · 27 votes
    2y
    Quote from @Laura Barajas:

    @Trevor DeSimonedid you ever find a CPA to work with? I'm currently on the same journey and am evaluating the same firms but find that their prices are too high for someone that needs basic 101 accounting and tax strategies for a person that is just starting out. Feel free to PM me who you ended up choosing. 


     Same situation. Would appreciate input from anyone on who they went with and their experience.

    1Reply
  • Nigam Mehta
    Member since 2023 · 4 posts · 1 vote
    2y

    @Trevor DeSimone

    @Laura Barajas

    Did you guys find right fit CPA for your real estate investments? I am looking for one and need references. Thank you

    0Reply
  • Michael PlaksPro Member
    Tax Accountant / Enrolled Agent · Houston, TX · Member since 2014 · 5k+ posts · 6k+ votes
    2y
    Quote from @Nigam Mehta:

    @Trevor DeSimone

    @Laura Barajas

    Did you guys find right fit CPA for your real estate investments? I am looking for one and need references. Thank you

    You're asking this on a forum that features over 20 of highly qualified accountants who specialize in real estate. We all work nationwide, however Bigger Pockets rules prohibit us from offering our services to you. You need to browse this forum, identify the tax experts who you want to work with and contact them.
    0Reply
  • Becca F.
    Rental Property Investor · San Francisco Bay Area · Member since 2022 · 1k+ posts · 1k+ votes
    2y

    @Vikram Singh

    @Nigam Mehta

    I did find a CPA in my local area who works with mostly RE investors but like the OP said, I don't have a large portfolio and I don't know if I can justify paying almost $10,000 a year. He is highly recommended by other investors I know. What I was told is $6000 a year for tax strategizing and for my situation $3900 to do my tax returns (W2 job, 4 SFHs and 1 multi-unit, co-owned). I have all long term rentals, did 27.5 straight line depreciation, no cost segregations, no accelerated deprecation, no bonus depreciation. no C-Corps and no S-Corps. I think mine aren't super complicated and I could probably continue doing them on my own but it'd be great to have someone look over my return (my 2022 one). 

    There must be something in the middle of my $376 TurboTax Premier (with audit protection) fee that I pay to do my own taxes (federal and 2 states that my rentals are in) and $10,000.  I've been scolded by several people for doing my own taxes lol...My other investor friend pays a CPA $1000 just to do her returns but that person is semi-retired and isn't taking new clients. I have no other recommendations for being in S.F. Bay Area.  I'm also getting on a call with Hall CPA. 

    I was not aware that BP prohibits a CPA from offering services to people on here - someone has messaged me twice, once over year ago and recently. I didn't initiate the contact.

    2Reply
  • Michael PlaksPro Member
    Tax Accountant / Enrolled Agent · Houston, TX · Member since 2014 · 5k+ posts · 6k+ votes
    2y

    Unfortunately several tax professionals do violate these clear rules. And get away with it. You can bring this violation to the attention of BiggerPockets if you want to.

    Location is not super important these days. Most of us real estate tax accountants work nationwide and know the state rules. Sometimes better than those who reside in those states.

    As far as the pricing between $400 and $10k, it is certainly available. The trick is to compare apples to apples which is very hard. Read this: https://www.biggerpockets.com/forums/51/topics/998718-explai...

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    2y
    Quote from @Becca F.:

    @Vikram Singh

    @Nigam Mehta

    I did find a CPA in my local area who works with mostly RE investors but like the OP said, I don't have a large portfolio and I don't know if I can justify paying almost $10,000 a year. He is highly recommended by other investors I know. What I was told is $6000 a year for tax strategizing and for my situation $3900 to do my tax returns (W2 job, 4 SFHs and 1 multi-unit, co-owned). I have all long term rentals, did 27.5 straight line depreciation, no cost segregations, no accelerated deprecation, no bonus depreciation. no C-Corps and no S-Corps. I think mine aren't super complicated and I could probably continue doing them on my own but it'd be great to have someone look over my return (my 2022 one). 

    There must be something in the middle of my $376 TurboTax Premier (with audit protection) fee that I pay to do my own taxes (federal and 2 states that my rentals are in) and $10,000.  I've been scolded by several people for doing my own taxes lol...My other investor friend pays a CPA $1000 just to do her returns but that person is semi-retired and isn't taking new clients. I have no other recommendations for being in S.F. Bay Area.  I'm also getting on a call with Hall CPA. 

    I was not aware that BP prohibits a CPA from offering services to people on here - someone has messaged me twice, once over year ago and recently. I didn't initiate the contact.

    $3,900 return cost.
    It likely takes maybe 5 hours to potentially prepare your return and maybe 2-3 hours for someone to review it.
    This means that you are likely paying close to $500 / hour for return preparation.

    $6,000 for strategizing supposing you have a monthly 30 minute phone call is $500 an hour.

    If the cost is $10,000, and your tax rate is 35%, they would have to decrease your taxable income by atleast $30,000 for the cost to justify the cost.
    [email protected]917-280-8544
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    2Reply
  • Becca F.
    Rental Property Investor · San Francisco Bay Area · Member since 2022 · 1k+ posts · 1k+ votes
    2y
    Quote from @Basit Siddiqi:
    Quote from @Becca F.:

    @Vikram Singh

    @Nigam Mehta

    I did find a CPA in my local area who works with mostly RE investors but like the OP said, I don't have a large portfolio and I don't know if I can justify paying almost $10,000 a year. He is highly recommended by other investors I know. What I was told is $6000 a year for tax strategizing and for my situation $3900 to do my tax returns (W2 job, 4 SFHs and 1 multi-unit, co-owned). I have all long term rentals, did 27.5 straight line depreciation, no cost segregations, no accelerated deprecation, no bonus depreciation. no C-Corps and no S-Corps. I think mine aren't super complicated and I could probably continue doing them on my own but it'd be great to have someone look over my return (my 2022 one). 

    There must be something in the middle of my $376 TurboTax Premier (with audit protection) fee that I pay to do my own taxes (federal and 2 states that my rentals are in) and $10,000.  I've been scolded by several people for doing my own taxes lol...My other investor friend pays a CPA $1000 just to do her returns but that person is semi-retired and isn't taking new clients. I have no other recommendations for being in S.F. Bay Area.  I'm also getting on a call with Hall CPA. 

    I was not aware that BP prohibits a CPA from offering services to people on here - someone has messaged me twice, once over year ago and recently. I didn't initiate the contact.

    $3,900 return cost.
    It likely takes maybe 5 hours to potentially prepare your return and maybe 2-3 hours for someone to review it.
    This means that you are likely paying close to $500 / hour for return preparation.

    $6,000 for strategizing supposing you have a monthly 30 minute phone call is $500 an hour.

    If the cost is $10,000, and your tax rate is 35%, they would have to decrease your taxable income by atleast $30,000 for the cost to justify the cost.

    I appreciate the breakdown. I'm not sure a CPA would be able to reduce my taxable income by $30,000. I also know several people doing AirBnbs to get the short term rental loophole - are people really saving that much in taxes by doing STR?

    What would be a fair charge for reviewing a 2022 return that I already did? I was quoted $1000 so if it did take 2 hours that works out to about $500 an hour. 

    0Reply
  • Alicia Larkin
    Member since 2025 · 11 posts · 4 votes
    11mo

    Curious where you landed with this. I'm in the same boat!@Trevor DeSimone

    0Reply
  • Jason MalabuteBusiness Member
    Accountant · Los Angeles, CA · Member since 2016 · 2k+ posts · 901 votes
    11mo

    I totally understand where you’re coming from — it can feel tough to justify paying higher fees when your portfolio is still growing. But the reality is that it’s really hard to get top-quality, strategic tax advice and expect it to be cheap.

    Think of it like your health: if you had a serious medical issue, you probably wouldn’t pick the cheapest doctor. You’d look for the one who has the right experience and can give you the best guidance to protect your long-term well-being. The same principle applies here.

    Malabute & Company CPAs525 Reviews
    WebsiteView Page
    0Reply
  • Rohullah Sharifi
    Dr · VA · Member since 2025 · 154 posts · 34 votes
    11mo

    It's a good idea. we directly cannot offer services, would be happy to connect and discuss.

    0Reply
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