I live in Eastern Oregon, my wife and I started in the real estate investing business two years ago. We sold our first flip in July. We have been holding two other properties. I need to know the best route to take for taxes. If there is anyone from Oregon on here that might make a recommendation, I would appreciate it.
Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 977 votes
5y
Christopher,
Are you open to working with your accountant remotely? I recommend finding an accountant who specializes in real estate taxation over one that is local. You may want to consider working with your accountant remotely to expand your options.
I would also recommend looking for a tax strategist who is willing to work with you throughout the year, not just when preparing your tax return. You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.
Good luck and let me know if you have any questions.
It sounds like you have a mixtures of flips and long-term rentals. You want to make sure to work with a CPA who understands how flips and long-term rentals are treated for tax purposes.
You may want to search for a CPA either by attending a local REIA or asking for recommendations here on biggerpockets. good luck in your search!