Looking for cost segregation company and real estate cpa

Atlanta, Georgia
Tax, SDIRAs & Cost Segregation
2yFollow

Looking for cost segregation company and real estate cpa

John Tran
Member since 2019 · 16 posts · 8 votes

Hello BP, I need to utilize cost segregation to offset my 2023 W2 income.  I still have until Sept 2024 to do that if I file extension right?  Can someone recommend a real estate CPA and cost segregation company in the northeast Atlanta area?

Thank you for any help

0Reply
17 views

4 Replies

Jump to latestLatest
  • Lateefah Mathews
    Realtor · Atlanta, GA · Member since 2021 · 239 posts · 120 votes
    2y

    Hi, @John Tran feel free to DM me I will send a reference for a CPA that covers cost segregation and services in the Atlanta area. I was able to refer them to a client of mine who also needed the same assistance, however, I cannot vouch for their abilities. Just FYI :)

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    2y

    What I often see being a mistake is people ordering a cost segregation study before speaking with their accountant to see if it would benefit them on their return.

    What a cost segregation study does is analyze a property further to identify assets that be classified with a shorter asset life than 27.5 or 39 years.

    The issue when getting an 'estimate' from a cost segregation study company is that they are not accountants(more specifically not your accountant). They then make assumptions that you are capable of taking 100% of the added depreciation, which may or may not be true.


    [email protected]917-280-8544
    Basit Siddiqi CPA4.979 Reviews
    View Page
    0Reply
  • Account Closed
    Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes
    2y

    Hey John, 

    You cannot use a cost segregation to offset your w2 income unless your married filing jointly and your wife is a CPA (in most cases). 

    I would suggest you get linked up with a real estate focused CPA. 

    Given we are accountants, we cannot promote our services on BP as its against the rules.

    To help in your search:

    be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise. Not too low either, you don't want to go with someone who is just focused on price as this is a quality of a not-so-great accountant. Accountants are in such demand, that the best are not even accepting clients half the time.

    The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.

    Another thing I see is folks thinking they need to have a tax professional in their state. We as a firm have investors working with us who have rental properties all over the US big and small.

    Finding a real estate-focused tax professional and one who can help with advisory and grow with you would be my suggestion to focus your efforts on finding. Best of luck in your search!

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