Any CPA recommendations in Northern Cali?

Question

So I'm new to real estate investing and need some financial consultations in regards to the following:

- So I'm trying to raise private money for investing, and thought of the idea that, there was a possibility that I can have our own "business" fund me the private money for real estate investing and there could possibly be tax benefit for our family business? (Mom and Pop supermarket)

- My family and I run a family business for the past 15 years, a supermarket with 7 family member just running the entire business, our net income is about $700k a year. But our tax owed/payback the last 4 years has been ridiculous between $250-400k a year owed to Uncle Sam, its a mom and pop store and we've have only been using a bookkeeper because she gives my family really cheap rates, which I've been persuading them that its why we're paying a lot of taxes back every year. SO after a year of profit, 300K split between 7 people is much less than the average pay now a days considering we work 6-7 days a week 8-12hrs a day. This is also a reason why it pushed me to invest into real estate.

Any CPA recommendations would be greatly appreciated!

Thank you in advance!

Account Closed · Answer

Hey @Fong Xiong,

Congrats on the successful business!

To help you in your search: be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise. Not too low either, you don't want to go with someone who is just focused on price as this is a quality of a not-so-great accountant. Accountants are in such demand, that the best are not even accepting clients half the time.

The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.

Another thing I see is folks thinking they need to have a tax professional in their state. We as a firm have investors working with us who have rental properties all over the US big and small.

Finding a real estate-focused tax professional and one who can help with advisory and grow with you would be my suggestion to focus your efforts on finding. Best of luck in your search!

Any CPA recommendations in Northern Cali?

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