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Do you have a good CPA referral ?
I am looking for a CPA. I work in NY full time at s bank. I live in the poconos and have an Airbnb rental there. I am looking to do end of year strategy Self directed 401k. What type of changes do I make to meet my goal of rental income with low tax rate.
My margins rate is 18%.
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#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
In order to establish a self-directed 401k, you either need to have a currently profitable active business or at least an active current business plus a 401k from some previous job. Your AirBnB is unlikely to open the door for a 401k, although it is sometimes possible. Need to discuss it with your tax accountant.
Which brings us to your question about an accountant. There are over 20 real estate accountants on this forum, all of us working remotely and nationwide, all experts in real estate. If you prefer a local one, reach out to @Nicholas Aiola and @Basit Siddiqi first. They are in NY.