Have I outgrow my CPA?
Have I Outgrown My CPA? Looking for Advice / Referrals
I’ve been with the same accounting firm for roughly 15 years, and they’ve been with me through a lot of growth. That said, I’m starting to wonder if my needs have evolved beyond what the relationship is currently providing.
Today I have a primary operating business along with a growing real estate portfolio of approximately 16 doors across multiple properties. My concern isn’t necessarily tax preparation—it’s the lack of proactive tax planning and real estate-specific guidance.
We typically have a tax-planning meeting toward the end of the year, but I’m increasingly feeling that November is too late to be making some of the decisions that should have been discussed throughout the year. I’d like more proactive guidance around things such as timing capital improvements and purchases, depreciation strategies, entity structure, financing decisions, and generally looking ahead rather than reacting after the fact.
At the same time, the accounting fees have increased substantially, and I’m questioning whether the level of strategy and advisory support I’m receiving justifies the cost.
For those of you who have built larger real estate portfolios:
- Have you ever reached a point where you felt you had outgrown your CPA or accounting firm?
- What did you look for when making a change?
- Did you move to a real-estate-focused CPA, a larger firm, or some type of tax advisory relationship?
- How frequently are you meeting with your CPA for proactive planning?
- And if anyone has a CPA or tax strategist they highly recommend for someone with both an operating business and a meaningful real estate portfolio, I’d appreciate referrals.
I’m not looking for the cheapest option. I’m looking for the right advisor who can be proactive, strategic, and grow with me.
Thanks in advance for any insight.