Need new CPA in Durham/Raliegh NC area

Investor · Durham, NC · Member since 2011 · 2 posts · 0 votes

I have been listening to the tax strategies podcast on BP and my current CPA hasn't been doing many of the stategies they talk about. Have not been taking the deduction for paying my children and the home office because my current CPA is rather conservative. I am looking for another CPA in the Durham/Raliegh NC area that understands these deductions. Does anyone have a recommendation for a local CPA? If not has anyone worked with Keystone CPA and if so what was your experience?

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Dawn BrenengenBusiness Member

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Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes

@Michael Little I just started using this guy, and while he is expensive, I think he's going to save me way more than I am spending. He knows all about hiring your kids (his are on all his marketing) :)

https://www.yudichakcpa.com/

Podcast Guest on Show #101

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Dawn BrenengenBusiness Member
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Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes
9y
@Michael Little I just started using this guy, and while he is expensive, I think he's going to save me way more than I am spending. He knows all about hiring your kids (his are on all his marketing) :)
https://www.yudichakcpa.com/
Podcast Guest on Show #101
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Michael Little
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Investor · Durham, NC · Member since 2011 · 2 posts · 0 votes
9y
Thanks Dawn. I will give him a call.
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Daniel Murphy
Investor · Youngsville, NC · Member since 2016 · 13 posts · 1 vote
9y
We've been with E. John Piaski in Raleigh for many years, he is expensive but has done the best job for us by far of the CPAs we have tried.
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Eric F.
Real Estate Investor · Raleigh, NC · Member since 2012 · 427 posts · 297 votes
9y
Michael why did he not allow you those deductions, specifically the home office? First of all, if he is doing a tax return he is not attesting to the information, it is more of a compilation engagement, so I do not see why he would challenge your home office use unless it was something like trying to write off 50% of your house.
@Dawn Brenengen / @Daniel Murphy Do either of those firms do componentized depreciation? When I was practicing as a CPA we started doing that for commercial clients and the tax savings were incredible. I think starting next year I am going to use a CPA instead of myself.
NOTE: Do not ask me tax questions, I was an auditor! (When I worked at the CPA firm I had to tell everyone I knew this like 200 times)
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David Miller
Attorney · Durham, NC · Member since 2016 · 224 posts · 126 votes
9y
Jake Schachle @ Ball & Minor in Fuquay Varina works with real estate investors and invests himself. He is good and would be worth a call.
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Daniel Murphy
Investor · Youngsville, NC · Member since 2016 · 13 posts · 1 vote
9y
@Eric F. that sounds like a great question, guess I'd better get myself educated on what that is lol. I found an article that claims "component depreciation" was negated from tax law in the 1980's but then went on to describe something called "cost segregation" which sounded to me like the same thing. I'll have to explore that with our accountant.
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Cameron Skinner
Investor · Panama City, FL · Member since 2015 · 378 posts · 183 votes
9y
@Michael Little the tax code ha just gotten so huge you can't just hire the guy down the street who tries to do everything. Always hire a licensed tax professional who specializes in real estate, and someone with some letters behind their name not those franchise firms, and I would always prefer someone who owns investment real estate themselves. A good Accountant who works with you on planning and tax strategy will always save much more than you will ever pay in fees. Also always request a price up front. You might want to listen my interview on podcast #168, we touch on some tax planning topics, while I'm not taking on any new clients if you private message me I can give you some referrals.
Best of luck!
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Eric F.
Real Estate Investor · Raleigh, NC · Member since 2012 · 427 posts · 297 votes
9y
I guess I used the wrong term. Cost segregation is what we did.
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Dawn BrenengenBusiness Member
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Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes
9y
@Eric F. I have no idea if he does. I don't have any commercial properties, so it wouldn't have come up in our meetings
Podcast Guest on Show #101
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Diane Albano
Member since 2017 · 5 posts · 1 vote
8y
Need a tax savey CPA in New Jersey (Investor Friendly)
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Nicholas AiolaBusiness Member
CPA & Investor · New York, NY · Member since 2017 · 1k+ posts · 1k+ votes
8y
@Diane Albano Where are you located in NJ? If you're open to working remotely, there are a few of us here on BP who specialize in real estate and work with investors nationwide. Shop around a bit and see if there's a good fit for you.
Good luck!
Aiola CPA, PLLC551 Reviews
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Anthony Lafata
Investor · Old bridge, NJ · Member since 2014 · 41 posts · 4 votes
8y
message me I have a great accountant if you need one in central jersey
Freehold area
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Lance W.
London, United Kingdom · Member since 2016 · 19 posts · 5 votes
8y
@Anthony Lafata I'd be interested In the contact details for your accountant. I'll pm you.
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Lily S.
Realtor · Raleigh, NC · Member since 2018 · 24 posts · 11 votes
7y
Hey BP family - circling back to this post as we are seeking CPA referral in the Raleigh/triangle area specializing in tax strategies and tax planning for RE investors. Thanks very much!
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Yonah WeissPro Member
Cost Segregation Expert and Investor · Lakewood, NJ · Member since 2017 · 1k+ posts · 1k+ votes
7y
Originally posted by @Lily S.:
Hey BP family - circling back to this post as we are seeking CPA referral in the Raleigh/triangle area specializing in tax strategies and tax planning for RE investors. Thanks very much!
You've got @Brandon Hall right in your backyard...one of the best out there.
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