Since I moved states, I would like to get a local tax/CPA person. I do not want one to just do my taxes once a year, but someone that I can discuss situations such as is it better for me to XXX. Mostly the XXX is related how to better pay my children (two-16 year olds) and myself a salary from the real estate work, or is it better just manage the rent as rent. The kids do work doing a lot of real work on the rental properties, its not a scam to pay kids, but how to best pay them.
The person I tried last year was not good, did not know basic things like that I did not need to pay social security on the kids salary for a family business. What little I know was more than he knew, he had to look up stuff and then tell me I was right.
So, how do you choose CAP and tax people? Do you ask to interview them, or is that weird? When I say, this is where my money comes from, they all seem to say yes, I can handle that, but then they do not.
I know I need someone who can handle taxes for Trust money, Roth IRAS, regular IRAS, a real estate business (definitely work more than 750 hours a year and its my only business as I am retired from other job) involving buying foreclosures, fixing them then renting them, and federal retirement funds. Next year my rental income will be past the allowable income to keep the supplemental retirement money, but I do not even know if rental income counts against it in federal retirement. I would like someone that knows and I can trust, but how do you find that person?
My old, favorite tax man retired a few years ago and I have not found a really good one since then.
@Lynnette E. sending you a PM
Reach out to several CPAs on here and have a conversation with them. Ask questions and and gauge who is the best fit for you and take it from there.