CPA Needed for California and Texas rentals
Rental Property Investor · Los Angeles, CA · Member since 2018 · 9 posts · 3 votes
@Chris Tryling Are you trying to find a CPA to create your LLC? If they're drafting the operating agreement, that's something you'll want a lawyer for. In California, that's considered the "practice of law" and CPAs could face criminal charges for drafting such a document. Not sure how it works in other states. Not sure if CPAs can do the basic secretary of state documents for you to form the LLC but there is case law saying any document that deals with legal rights is the practice of law, so just be careful about that.
As for finding a good CPA, there are several good ones out there. But, likely not for $700. That's pretty cheap. There's that saying that you get what you pay for... You probably will expect more $1,000-2,500 from a CPA would be my guess, but you can ask around. I have names for you in San Diego if you're willing to work remotely then shoot me a message. Or you could reach out to @Logan Allec in L.A. or @Brian Schmelzlen in San Diego. @Michael Plaks is based in Houston and also may be a good resource for you. Texas I think has no state income tax but I believe does have a franchise tax so you may have less of a tax burden there than in California but you'll definitely want to ask your CPA about that.
*This post does not create an attorney-client or CPA-client relationship. Readers are advised to seek professional advice.
@Chris Tryling Are you trying to find a CPA to create your LLC? If they're drafting the operating agreement, that's something you'll want a lawyer for. In California, that's considered the "practice of law" and CPAs could face criminal charges for drafting such a document. Not sure how it works in other states. Not sure if CPAs can do the basic secretary of state documents for you to form the LLC but there is case law saying any document that deals with legal rights is the practice of law, so just be careful about that.
As for finding a good CPA, there are several good ones out there. But, likely not for $700. That's pretty cheap. There's that saying that you get what you pay for... You probably will expect more $1,000-2,500 from a CPA would be my guess, but you can ask around. I have names for you in San Diego if you're willing to work remotely then shoot me a message. Or you could reach out to @Logan Allec in L.A. or @Brian Schmelzlen in San Diego. @Michael Plaks is based in Houston and also may be a good resource for you. Texas I think has no state income tax but I believe does have a franchise tax so you may have less of a tax burden there than in California but you'll definitely want to ask your CPA about that.
*This post does not create an attorney-client or CPA-client relationship. Readers are advised to seek professional advice.
I second @Brian Schmelzlen recommendation. If you're willing to consider SF area, add @Jana Cain and @Matt Ward to your list.
I'm in Texas, as @Katie L. mentioned, and we work nationwide, but the combination of the services you want and the price you have in mind won't work.
Texas Franchise tax that Katie mentioned is simply an annual formality, not a tax, as long as your gross income is under $1 mil.
Also, even though some TX CPAs do form LLCs, it is also considered illegal ("practicing law without a license") here, just like in CA. Except I have not heard it prosecuted here in Texas, but I'm not an attorney.
I second @Brian Schmelzlen recommendation. If you're willing to consider SF area, add @Jana Cain and @Matt Ward to your list.
I'm in Texas, as @Katie L. mentioned, and we work nationwide, but the combination of the services you want and the price you have in mind won't work.
Texas Franchise tax that Katie mentioned is simply an annual formality, not a tax, as long as your gross income is under $1 mil.
Also, even though some TX CPAs do form LLCs, it is also considered illegal ("practicing law without a license") here, just like in CA. Except I have not heard it prosecuted here in Texas, but I'm not an attorney.
Thanks @Michael Plaks !!!
@chris tryling i'd be happy to speak with you, however as Michael stated, our pricing is not in that "tier" for the services you're requesting. Feel free to send me a DM.
I second @Brian Schmelzlen recommendation. If you're willing to consider SF area, add @Jana Cain and @Matt Ward to your list.
I'm in Texas, as @Katie L. mentioned, and we work nationwide, but the combination of the services you want and the price you have in mind won't work.
Texas Franchise tax that Katie mentioned is simply an annual formality, not a tax, as long as your gross income is under $1 mil.
Also, even though some TX CPAs do form LLCs, it is also considered illegal ("practicing law without a license") here, just like in CA. Except I have not heard it prosecuted here in Texas, but I'm not an attorney.
Thanks for the referral, @Michael Plaks!
@Chris Tryling, happy to chat if you'd like. Feel free to PM me.