Financial/tax planning and review

4 Replies

Hey fellow BPers, I’m looking for some guidance/help regarding my personal tax return and K1’s. My income rose about 50% in 2017 due primarily to flips and am looking for someone to review my information and provide assistance with financial planning/tax planning/general advice. If anyone can help out that would be great.

@Mayer M. If you're open to working remotely with a real-estate-savvy CPA, there are a few of us roaming around the BP forums. Reach out to a few and see if there's a good fit for what you're looking for.

Good luck!

@Nicholas Aiola Thanks for your reply! My primary source of income at the moment is from a non-real estate related business in PA, and I’m a resident of NJ. Being that I receive a w2 and K1 from this business and PA and NJ are reciprocal states. Would this make is challenging for a non-local specialist that may not be familiar with NJ/PA tax law/rules/regs?

@Mayer M. Most tax pros who work with clients nationwide (myself included) have clients who live, work, and invest in multiple states.

As long as you work with someone who is either familiar with multiple state laws/regs or has the capability/resources to research the appropriate laws/regs, it should not be a challenge.

Ultimately, you have to be comfortable with your team members and how they work.

Happy to answer any other questions you may have!

@Mayer M. As Nicholas mentioned, most CPAs should have the resources to research state tax laws as necessary, and/or have colleagues who are SALT (state and local tax) specialists. At any rate, working with a remote CPA is fine so long as you are comfortable with that.