Dayton Area RE Experienced CPA?

Question

Calling all Dayton, OH area investors, is anyone willing to share a referral for a great CPA with experience navigating buy and hold and flip investments?

Newbie investors here jumping into our first BRRR after househacking for the last two years in Dayton.Thank you all!

Benjamin Weinhart · Answer

The fun part with Ohio is that half of the municipalities require it, and the other half don't, and there's no real consistency to it. Plus they could tax off of residency and/or income depending on the locality. Being that I live/am licensed in Ohio, I've filed thousands of these returns so they're pretty much second nature to me. About half of the returns I get from newcomers that had a locality return in the PY prepared by a CPA out of state either didn't file at all, or it was done incorrectly. I even remember for a while that some of the big commercial tax companies didn't support local returns.

Plus until last year (might've started for TY 2022, I forget) everything was paper file only. Only recently could you e-file the return for RITA. Still have to mail the rest of them though.

Basit Siddiqi · Answer

One often overlooked item for those who invest in Ohio is not filing the locality returns.Ohio is a unique state where they require locality returns to be filed in addition to the state return.

Account Closed · Answer

If I could chime in to help in the 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!

Carlos Scarpero · Answer

I can help make that intro, PM me.

Ethan Na · Answer

Tax Retriever 937-988-0370

Very knowledgeable and absolutely great at what he does.

Bill Hampton · Answer

@Miranda Obermiller

I recommend finding an accountant specializing in real estate taxation. You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a tax strategist willing to work with you throughout the year, not just when preparing your tax return. You want an accountant who can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.

Good luck.

Jason Walsh · Answer

Essex and Associates

(937) 432-1040

Dayton Area RE Experienced CPA?

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