Why would I ever use an accountant?
Hello BP, I know that accountants are extremely valuable people to have in your circle, but I find outrageous titles grab people’s attention.
When do you like to meet with your accountant and how frequently to you see them?
How many properties would you have to have before an accountant is a must have for saving on taxes?
If I am living in the property I intend to rent can I still right off improvements and costs of purchasing the property?
Any information would be helpful!
Thanks!
Most Popular Reply
When I get new clients that have previously prepared their own tax returns, I routinely find that they had been making mistakes or missing deductions that would have saved them more in taxes than the fees I charge them (sometimes by several times). I am biased, but I think a good CPA is able to create value for investors that goes beyond making sure the tax return is prepared correctly. A good CPA is able to help investors find the optimal structure for their business and transactions to work for their goals and minimize taxes.