CPA and tax software recommendations

9 Replies

Originally posted by @Heather Minior :

Can anyone recommend which is the best and most up to date tax software available?

Thank you!

 Are you looking for your investment properties? I like Quickbooks for personal use. If you are looking for doing other people's taxes, (wolterskluwer). Best of luck!

If you are looking to just keep track of your investment properties with an accounting software I really like Xero. Like many softwares you can link your bank accounts and then just categorize your spending or any income. Then at the end of the year download the reports and send them to your accountant. One of the issues I’ve seen is that many people miss-categorize items such as putting deposits as income and labeling mortgage payments as expenses and the such. Before you categorize your items I would first chat with your accountant.

@Carlos Saltijeral

Hello. Thank you!

I’m actually in the process of looking for a real estate cpa. There’s a list of questions to ask during the interview on a BiggerPockets post

I tried googling but none of the links were consistent and I’m new to this so wasn’t sure what was trustworthy

@Heather Minior

Tax software's for retail use would be something like H&R Block software, Turbo Tax Software, etc
Accounting softwares would be something like Quickbooks, Stessa, Xero, Quicken, etc

If you are looking for a CPA, I would suggest using the following tips to find one

1) Attend a Local REIA / Real Estate meetup and see who other investors are using as a CPA
2) Network with other investors from your City/State that you find on bigger pockets and see who they use as a CPA
3) Look for CPA's with good google/yelp reviews where 'real estate' is mentioned in the review.

Thank you ❤️
I will be attending the Phoenix azreia meeting on Monday. I’m new to the industry and do not know many other investors yet

I truly appreciate your response. Thank you