Looking for CPA in Seattle who knows eminent domain

Tax, SDIRAs & Cost Segregation
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Looking for CPA in Seattle who knows eminent domain

Christopher Cole
Rental Property Investor · Seattle, WA · Member since 2014 · 69 posts · 51 votes

My property was acquired by Sound Transit (public transport doing an extension of their light rail). I'm looking for a CPA who knows about Sound Transit and real estate investment. I figure that means the CPA should be local.

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Michael HaasBusiness Member
Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
6y

@Christopher Cole - just curious, what neighborhood is your property in? I assumed we were still too early to be starting eminent domain in Youngstown/West Seattle so is it one of the other spurs?

[email protected]408-439-7873
HouseHack Seattle | Michael Haas & Team572 Reviews
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  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    6y

    @Christopher Cole

    When was the property sold and was there a significant gain upon sale?

    You may be eligible to defer the gain on the sale. Depending on the amount of gain, you may want to consider doing so.

    There is a time-limit to do so. Make sure you fall within the time-limits and the gain is deferred.

    Regarding needing to work with a local CPA, the exclusion of the gain is a federal concept. Furthermore, the state of WA does not have an income tax allowing you to look broadly for an accountant.

    [email protected]917-280-8544
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  • Brock FreemanBusiness Member
    Lender · Coeur d'Alene, ID · Member since 2018 · 78 posts · 25 votes
    6y

    You might contact Dan Shin over at Inslee Best Doezie & Ryder, P.S. They are a law firm that has a specialty in eminent domain, so should have CPA contacts as well.

    Kirkland Capital Group
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  • Michael HaasBusiness Member
    Real Estate Agent · Redmond, 🌧️ Seattle Investor-Agent | 🤑 Helped 400+ Clients Invest in Real Estate | 🏘️ Owns 23 WA Rentals & Airbnbs | 🏗️ Built 5 DADU's | 📈 You Can Do It Too · Member since 2016 · 724 posts · 3k+ votes
    6y

    @Christopher Cole - just curious, what neighborhood is your property in? I assumed we were still too early to be starting eminent domain in Youngstown/West Seattle so is it one of the other spurs?

    [email protected]408-439-7873
    HouseHack Seattle | Michael Haas & Team572 Reviews
    WebsiteView Page
    5Reply
  • Christopher Cole
    OP
    Rental Property Investor · Seattle, WA · Member since 2014 · 69 posts · 51 votes
    6y

    @Brock Freeman thanks for the recommendation, I'll give them a try.

    @Michael Haas the property was in Northgate, so part of the extension going north to Everett.

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