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Tax, SDIRAs & Cost Segregation

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Annette A.
  • Waterville, ME
53
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269
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looking for an Accountant in Maine; any referals

Annette A.
  • Waterville, ME
Posted Nov 30 2015, 22:19

i need a good accountant as I need to file some back taxes and get up to date. I do believe i am operating under mostly losses for those years, but .. i need to file and get myself right. So far I have gone to two accountants and have felt shoed under the rug and brushed aside. I do believe that I will owe some funds. 

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Brandon Hall
Tax & Financial Services
  • CPA
  • Raleigh, NC
2,281
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1,561
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Brandon Hall
Tax & Financial Services
  • CPA
  • Raleigh, NC
Replied Dec 1 2015, 08:10

@Annette A. why did you feel the accountants were pushing you aside?

I'm sure you've seen me post about this before, but don't be afraid to go non-local. You will expose yourself to a wider pool of expertise which is critical for real estate investors.

Many of us service clients all over the US and even world. We utilize various forms of technology to collaborate seamlessly with our clients and rarely have issues.

If you are set on using someone local, search the BP forums for investors local to you and reach out to ask for a referral. Or join a local FaceBook/ REIA group.

Hope this helps!

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Annette A.
  • Waterville, ME
53
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269
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Annette A.
  • Waterville, ME
Replied Dec 1 2015, 14:29

thanks @Brandon Hall the first one said well i dont think we are taking any new clients. (thats understandable) but the second one was talking down to me (i dont think she really had any realastate experiance, nor small business...) in that she told me they may consider me a hobby. I told her I made @14G in one month; upwards to $26 in a few, and that i wanted to get on board so that I can grow my business. 

But she wasnt taking me serious. ya just know when somebodies demeaner is derogatory; and lacked understanding of what and where i needed to go; so needless to say the call did not progress into an apointment.  (they were suppose to be a good one for farms and related business- as my funds are coming from a wild foods business. )

I do have various things on the plate that need to be considered- the plant business; a pc of land; a florida property that is a loss- and is waiting for an upgrade. ? a loss of a property i paid for but was never finalized... and i think i was swindled. can i claim a loss? 

I am presently trying to put together a wild plant food business plan and i need my taxes for the last 3 years put together and filed and hopefully be able to avoid some tax penalties; and i need my end numbers for business plan so that i can show some profit which i do think i have in 2014. 2015 was a loss as well. any way i fear i may owe more then i can pay at this moment... lol :/ not good. I know that I am probably NOT thinking nor know all the tax laws and things that can be claimed as expense. 

I guess i am open to ideas; i just didnt realize it could be done digitally online?. I will check and see if there is a Maine REIA group, and weigh my options. :D

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Annette A.
  • Waterville, ME
53
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269
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Annette A.
  • Waterville, ME
Replied Dec 1 2015, 14:32

O by the way that is three diff pc.s of land- two costing me and 1 is a loss swindle (tho i have a paper with witnesses- I talked to an Att today and at the very least i have a small claims court for the amount i paid him. @Brandon Hall

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Brandon Hall
Tax & Financial Services
  • CPA
  • Raleigh, NC
2,281
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1,561
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Brandon Hall
Tax & Financial Services
  • CPA
  • Raleigh, NC
Replied Dec 1 2015, 17:38

@Annette A. sounds like a perplexing situation! I will say that we can absolutely work digitally and often do, so do consider that when seeking out a CPA.

Real estate rentals are not subject to the Hobby Loss Rules, so you will be okay on that front - not sure about the plant business.

You need someone with real estate and business experience. Generally, a CPA with real estate experience will also have the necessary business experience, but a CPA with business experience will not necessarily have real estate experience. Avoid the CPAs who seemingly only work with individuals with less complex returns. Choose wisely.

Here's a blog post that delves into selecting a CPA. Hope it helps! 

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Annette A.
  • Waterville, ME
53
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269
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Annette A.
  • Waterville, ME
Replied Dec 1 2015, 20:27

thanks @Brandon Hall

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Steven St.Pierre
  • Lewiston, ME
6
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20
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Steven St.Pierre
  • Lewiston, ME
Replied Dec 1 2015, 22:33

Hi Annette,

This is who I use if you want to take a look. http://www.oacpas.net/

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Annette A.
  • Waterville, ME
53
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269
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Annette A.
  • Waterville, ME
Replied Dec 2 2015, 07:34

Thanks @Steven St.Pierre. by the way i had an apt with the Attorney you refered me too. love him- very good. Was able to get alot of loose ends tied up and he is working on two others. 

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Alex Ng
  • Investor
  • Waltham, MA
2
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Alex Ng
  • Investor
  • Waltham, MA
Replied Dec 2 2015, 07:42

highly recommended..

http://www.wg-cpa.com/index.php

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Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
2,359
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Jeff B.
  • Buy & Hold Owner
  • Redlands, CA
Replied Dec 2 2015, 08:35

ALWAYS use a CPA - - they are 'certified' and have a license at stake for their work.

An accountant or book keeper has taken Accounting 101 (maybe and perhaps passed).

A good CPA will want your work and to help you get your life back and when you explain the problem(s) over the phone, you can tell immediately the the difference 'twix the CPA and a Book Keeper.

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Brandon Hall
Tax & Financial Services
  • CPA
  • Raleigh, NC
2,281
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1,561
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Brandon Hall
Tax & Financial Services
  • CPA
  • Raleigh, NC
Replied Dec 2 2015, 08:44

@Steven St.Pierre hah! Us CPAs are all the same. Check out the website of the CPA you recommended compared to mine... yikes. 

A website refresh is in the works for me :)

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Steven St.Pierre
  • Lewiston, ME
6
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20
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Steven St.Pierre
  • Lewiston, ME
Replied Dec 2 2015, 09:31

@Annette A. glad the Lawyer worked out well for you, he is a great attorney and a very nice person! Hope the search for a CPA goes well. Let me know if your need anything else.

@Brandon Hall your website looks great but I like to have my team members close enough that if I need to see them face to face it only takes me a short time to get there. Its a personal choice of convenience.  

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Brandon Hall
Tax & Financial Services
  • CPA
  • Raleigh, NC
2,281
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1,561
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Brandon Hall
Tax & Financial Services
  • CPA
  • Raleigh, NC
Replied Dec 2 2015, 09:36

@Steven St.Pierre I was implying that my website and your CPA's website are almost identical, not trying to convince you to switch or go non-local. I need to refresh mine :)

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Annette A.
  • Waterville, ME
53
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269
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Annette A.
  • Waterville, ME
Replied Dec 2 2015, 10:02

thanks @Jeff B. thats what it must of been. the local one i talked to on the phone must of been a bookkeeper and not a CPA. that makes sense. :)