Ask your CPA...

[Steven Hamilton II]

Ask them when the last time they took a course in tax theory was. A CPA is not required to take any CE in taxation after they have their license... So please do your due diligence as well. I know some very good CPA who know tax very well. I also have quite a few clients who are CPAs and do not like to touch the topic. I just want to clarify I am not bashing any CPA, I am simply asking everyone to make sure they protect themselves by using someone who is truly knowledgeable in tax.

I am a tax accountant and Enrolled Agent. An EA is someone who is licenses by the Department of Treasury in Taxation who has passed some some very difficult tax exams and has to regularly do continuing education in tax specifically. I am happy to answer anyone's questions and I am more than happy to relay experiences I have had before the IRS in regards to RE activities.
My family is heavily involved in RE. I both flip and hold long-term. And a family member is a Realtor.

[Ebere Okoye]

Originally posted by Steven Hamilton II:

Ask them when the last time they took a course in tax theory was. A CPA is not required to take any CE in taxation after they have their license... So please do your due diligence as well. I know some very good CPA who know tax very well. I also have quite a few clients who are CPAs and do not like to touch the topic. I just want to clarify I am not bashing any CPA, I am simply asking everyone to make sure they protect themselves by using someone who is truly knowledgeable in tax.

I am a tax accountant and Enrolled Agent. An EA is someone who is licenses by the Department of Treasury in Taxation who has passed some some very difficult tax exams and has to regularly do continuing education in tax specifically. I am happy to answer anyone's questions and I am more than happy to relay experiences I have had before the IRS in regards to RE activities.
My family is heavily involved in RE. I both flip and hold long-term. And a family member is a Realtor.

Thanks Steve, May I add not only do investors need a CPA with Tax experience but also one who is well versed in tax laws that relate to Real Estate Investors. In my years of working with Real Estate Investors, this is one of the biggest issues that forced them to switch CPA's. An investor is also a small business owner so there also needs to be proper business strategies as well like entity structuring, retirement planning, business analysis meetings, etc.