New Fix and Flipper Seeking Attorney/CPA

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New Fix and Flipper Seeking Attorney/CPA

Sasha Josephs
San Francisco, CA · Member since 2017 · 115 posts · 29 votes

Hi there! Seeking an investor (flipper) friendly CPA and attorney for projects out in Texas and California.

Does one need to use an attorney/CPA local to the area you are investing in or can the individual be based where you live? (I live in California)

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Katie Balatbat
CPA and Attorney · San Diego, attorney · Member since 2022 · 301 posts · 219 votes
2y

@Sasha Josephs

You need a CPA that is familiar with the laws in the states where you are investing, but they can be located anywhere.  Since CA tends to be a bit more complex than most states, and since as a CA resident you will file a more extensive CA return, I tend to favor a CA-based CPA (unless the CPA that you are working with is well-versed in CA laws and returns).  Texas has no state income tax but does have other taxes like franchise fees and similar.  As to an attorney, it really depends on what type of task you are looking for the attorney to assist with as a local attorney will be better off with landlord-tenant laws and customs, but an estate planning attorney would be based in the state where you are a resident.

*this post does not create an attorney-client or CPA-client relationship. The information contained in this post is not to be relied upon. Readers are advised to seek professional advice.

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  • Katie Balatbat
    CPA and Attorney · San Diego, attorney · Member since 2022 · 301 posts · 219 votes
    2y

    @Sasha Josephs

    You need a CPA that is familiar with the laws in the states where you are investing, but they can be located anywhere.  Since CA tends to be a bit more complex than most states, and since as a CA resident you will file a more extensive CA return, I tend to favor a CA-based CPA (unless the CPA that you are working with is well-versed in CA laws and returns).  Texas has no state income tax but does have other taxes like franchise fees and similar.  As to an attorney, it really depends on what type of task you are looking for the attorney to assist with as a local attorney will be better off with landlord-tenant laws and customs, but an estate planning attorney would be based in the state where you are a resident.

    *this post does not create an attorney-client or CPA-client relationship. The information contained in this post is not to be relied upon. Readers are advised to seek professional advice.

    1Reply
  • Nate MeekerBusiness Member
    Real Estate CPA | California · Member since 2020 · 543 posts · 251 votes
    2y

    @Sasha Josephs as far as a CPA, they do not need to reside in the state you live in. Most CPAs are qualified and have enough knowledge to complete returns regardless of the state they live in. What's more important is their experience with real estate. 

    Good luck and happy tax season!

    The CPA Realtor 569 Reviews
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  • Account Closed
    Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes
    2y

    @Sasha Josephs, 

    If you are OK with us filing an extension, we could assist you. We specialize in small business owners who invest in real estate. Real estate flippers, developers, short term rental folks.... these are our bread and butter and folks we pride ourselves on saving a boat load of money. We also can help with asset protection(trusts), book keeping, and tax planning. 

    0Reply
  • Ronald RohdePro Member
    Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
    2y

    Posted on your other thread as well, happy to chat

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