Originally posted by @Justin Garrett :
I am just reaching out to see if any one has recommendations on CPA. I have sold two properties and bought two one with seller financing.
Thanks for the help
Are you looking for a local CPA? CPAs can usually work remotely, but I know folks who prefer to have someone local. I bounce a lot of my CPA related items off of @Vlad K.
@Filipe Pereira I am not really worried about them being local because I will be going over seas for the military for a while.
You may want to give these folks a call, they are out of Atlanta and South Carolina and know real estate investing. Always best to find partners that are experts in our field.
Were the 2 properties that you sold investment properties?
If the 2 properties were investment properties - you may have benefited from doing a 1031 exchange instead of selling 2 properties and buying 2 properties. too late now but something to think about in the future.
For the property that you acquired with seller financing - please make sure to separate any payments going to the seller as principal and interest payments. principal payments decrease your liability with the seller while any interest payments are deductible on your tax return as interest expense.
Stay safe as you go overseas!
Feel free to connect with me if you have any specific tax questions!
I work with clients in real estate - mostly high income high net worth investors and people who do syndicated deals. We have multiple offices all over the country.
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