Rental Property Investor · New York, NY · Member since 2011 · 95 posts · 10 votes
Hello everyone,
I am a real estate investor currently purchasing a 3 unit property in NJ. I am looking for an accountant that specializes in Real Estate. I live in Manhattan and work in NJ. I currently own:
* 1 rental unit under a LLC in AZ
* 2 CO-OP apts (1 rental & 1 primary residence) in Manhattan
* Purchasing 3 unit property in NJ
If anyone has any references for accountants that can do my taxes and guide me with LLC's etc. I would really appreciate it.
Accountant, Enrolled Agent · Grayslake, IL · Member since 2011 · 5k+ posts · 2k+ votes
14y
Raza Rizvi,
If you have any questions please do not hesitate to ask. I would be more than happy to assist with any questions here if they are general and also you may PM me if you have any private questions. I provide accounting service as well as tax preparation/consulting for clients worldwide.
Aside from myself, there are a few other accounts here on the BP forum who are more than willing to assist a fellow investor.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
14y
I'm a bean counter too, but not a tax guy, but my comments have to do with a local accountant vs. one in a distant land.....LOL
If you have a copier, fax, scanner and computer, I don't see why you can't have an advisor/accountant far away. The only thing I can think of is receipts for expenses that you may haul around in a grocery bag to you local accountant, but you could scan them and send copies to anyone. You also have overnight delivery for any package. And with a cell phone, well, seems all the bases are covered, IMO.
SO shop around and check with the accountants here on BP, they will be more likely to be up on RE issues than those tax store types. Good luck
Real Estate Investor · Audubon, PA · Member since 2009 · 13k+ posts · 8k+ votes
14y
There are some advantages to using a local CPA / accountant / tax preparer / professional. For example, the City of Philadelphia has some taxation levies that a non-local guy might not have any inkling that these even exist, let alone figuring out how to get the paperwork and complete it properly.
And as an example for the state level, the state of PA does not recognize tax-deferral via 1031 exchange, so the professional you choose needs to know some of these local nuances.