Hey BP Friends.
I need some recommendations and I would LOVE IT if you've actually used these people and can tell me how they've helped your biz.
Here's what I've got: 3 LLCs: a real estate brokerage, a holding co, and one that manages/contract labor on our properties. I need someone who can do my monthly/quarterly bookkeeping and help keep everything straight.
I'm also looking for a new CPA or Tax attorney to help me strategize on how to manage the income/expenses and work toward my goals and how to do things to minimize what I'm taxed at the end of the year. I'd like to find someone for this by mid year so I still have time to be proactive for next year's taxes.
I'd REALLY love this person to be in minneapolis/St Paul area so I can get face to face with them, but I'm open to someone elsewhere if they are really, really amazing.
@John Woodrich is your guy! He's not a tax attorney, but very knowledgeable and a frequent contributor to the BP community.
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There are plenty of people here that can help! If there is someone in Minneapolis that is the best fit, by all means go with them. Just make sure you prioritize fit over physical location.
Whoever you end up using- make sure they can also help you build out the accounting/other systems in your business as you grow. There lot's of accountants that can help with taxes, fewer that can help with strategy, and even fewer who help with taxes/strategies/systems.
Best of luck!
@John Woodrich has done my taxes the last 10 years which has included, flips and buy and hold investments. He is a manager at a local CPA firm and can do everything you need.
Thanks everyone for the recommendations.
@John Woodrich would be my pick also!
Ok thanks for all the advice everyone! Here's my followup question:
What questions should I ask my potential bookkeepers and accounts to make sure we are on the same page?
Should my accountant and bookkeeper be the same person?
That's something you and your accountant needs to discuss. I know at my CPA office I used to work at they took the income and expense statements from flow through entities/ sched C clients and didn't do the bookkeeping. While expediting the process this lets the client decide what is deductible or not (missing or over estimating deductions). If that's what your accountant does then I suggest having a separate bookkeeper who knows real estate investing.
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