The Unofficial Phrase Book of Bigger Pockets Tax Forum
I hope this little tongue-in-cheek guide will help some investors new to our forum.
Code phrases:
- I recommend you work with a CPA specializing in real estate.
- Hiring a specialized CPA can save you thousands.
- It's important to find a CPA who understands real estate and is an investor himself.
- I recommend finding a CPA who provides proactive tax planning.
Translation: It's me who I highly recommend.
Code phrases:
- Bookkeeping is where all your tax benefits start
- I recommend you work with a bookkeeper focusing on investors
- You definitely should outsource your bookkeeping
Translation: I'm a bookkeeper.
Code phrases:
- Cost seg will definitely help you save on taxes
- You definitely should consider cost seg
- I recommend a full engineered cost seg study
- The IRS only accepts engineered cost seg studies
- I recommend you obtain a free estimate from a cost seg firm
Translation: I'm working for a firm doing full-service engineered cost segregation.
Code phrases:
- I recommend you look into properties in ____ area
- In my experience, _____ area provides excellent ROI/cash flow/appreciation
Translation: I'm a Realtor/wholesaler servicing _______ area.
Code phrases:
- I highly recommend this guy. He is awesome.
- Send me a PM if you want a recommendation of a great guy.
Translation: I'm a proxy promoter for my friend / my boss / my business partner / my boyfriend etc.