Happy New Year! Do you currently work with an expert CPA who is helping you maximize tax breaks with your real estate investments? If so, would you mind sharing their contact information, websites, etc. with me? Thank you all!
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
1y
There are a couple of unique tax laws to real estate investors - 1031 exchange, bonus depreciation on certain improvements, Qualified Opportunity Zones, real estate professional status, etc.
Make sure that the accountant you interview to understand the above concepts.
I went through this whole process recently of researching for Real Estate CPA and finally went with referral from friend that also invests in real estate.
This seemed to be the most reliable way to find someone that I feel confident is good and knows real estate.
They're not in TX. Feel free to reach out if you're still looking and don't mind remote.
I went through this whole process recently of researching for Real Estate CPA and finally went with referral from friend that also invests in real estate.
This seemed to be the most reliable way to find someone that I feel confident is good and knows real estate.
They're not in TX. Feel free to reach out if you're still looking and don't mind remote.
Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
1y
There's a lot of real estate CPAs in the Biggerpockets forums. I'd recommend reaching out to a few and interviewing them and seeing who you connect best with. BP also has a tax professional finder as well.
Given you're in Texas and don't have a state tax return, it really opens you up to work with providers nationwide.
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
1y
There are a couple of unique tax laws to real estate investors - 1031 exchange, bonus depreciation on certain improvements, Qualified Opportunity Zones, real estate professional status, etc.
Make sure that the accountant you interview to understand the above concepts.
Bigger Pockets is a great place to find a real estate tax accountant.
A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.
I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.
You may want to consider working with your accountant remotely to expand your options.
I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.