New Investor, Questions on Taxes

Tax, SDIRAs & Cost Segregation
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New Investor, Questions on Taxes

CK Fiore
Member since 2019 · 2 posts · 1 vote

Hello everyone! I'm new to BP and I am new to investing in rental properties. I was wondering about more information regarding taxes for real estate and if anyone knew of any resources (books, articles, videos) relating to that. I wish to understand the basics of real estate taxes before I get a CPA. 

Also, I'm looking to invest in the Athens, GA area and I'm wondering about how the market is doing there. 

Thank you and I look forward to any replies. 

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  • Brian M Sweeney
    MBA, CFP®, EA · Columbus, OH · Member since 2018 · 175 posts · 207 votes
    6y

    @CK Fiore most accountants will be able to teach you the basics. I wouldn’t get hung up or waste your time trying to become knowledgeable with taxes to start. You will learn as you go.

    0Reply
  • CK Fiore
    OP
    Member since 2019 · 2 posts · 1 vote
    6y

    Thank you @Brian M Sweeney. I look forward to learning more as I go along. Do you know of any specific questions to ask a CPA before hiring them? 

    0Reply
  • Paul Allen
    Financial Advisor · Virginia Beach, VA · Member since 2017 · 502 posts · 508 votes
    6y

    "What percentage of your clients are real estate investors?"

    0Reply
  • Melody E Bergloff
    CPA · UT · Member since 2019 · 55 posts · 19 votes
    6y

    @CK Fiore @Brian M Sweeney

    I agree with Brian, I would not dump a ton of time in learning all the tax aspects of real estate investing. This does take time and using a tax professional could help you along. However, there are a ton of resources on BP that can help you familiarize yourself of some of the tax strategies employed by small and large RE investors. 

    0Reply
  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    6y

    @CK Fiore

    There are many books, articles and video to inform you the tax benefits of real estate taxation. 
    There are 5 BP Podcast episodes that featured a CPA.
    BP published a book on taxation as it relates to real estate

    If you are looking for how to prepare a tax return, I am not sure a CPA who teach you that.

    [email protected]917-280-8544
    Basit Siddiqi CPA4.979 Reviews
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