Search for tax specialist for REI

Member since 2024 · 130 posts · 95 votes

Hi all,

I've been talking with a few companies that specialize in tax strategy and tax preparation for REI's.

I'm new here to BP (and my husband and I have 1 SFH that is a long term rental), and I'm doing research now to close at least 3 mid term rental deals in 2025. (One may be in KS, MO)

Does anyone have a tax specialist they can recommend I talk with? RIght now I'm getting rates at $2000 (to do tax prep for one LLC and personal), and wondering if anyone has recommendations for others I can talk with before moving on a decision.

Thank you all!

Tanya

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Austin Cheatham

Accountant · Louisville, KY · Member since 2020 · 75 posts · 55 votes

Hi, you've definitely came to the right place for an REI focused tax professional. While we aren't allowed to self promote on the forums, I'd recommend looking around to see who is providing value and reach out to see if they are accepting clients. Tons of good resources here!

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Jason MalabuteBusiness Member
Accountant · Los Angeles, CA · Member since 2016 · 2k+ posts · 908 votes
2y

Hi Tanya,

You’re on the right path by looking for a CPA who specializes in real estate instead of a general CPA – that makes a huge difference. I’m actually familiar with the Kansas City market, so that’s interesting!

As for pricing, every accountant and firm is a bit different. The $2,000 quote you're getting sounds about right. Many firms charge at least $1,200 for LLC returns, plus anywhere from $500 to $900 for personal tax returns, depending on complexity. Just keep in mind that pricing varies widely, so it's essential to research the firm's background. Make sure they have the experience and track record to support your goals.

Also, many CPAs who focus on real estate have only theoretical knowledge – they understand the concepts but may not have actual hands-on real estate experience. If you can find a CPA who not only knows tax strategy and preparation but has also done real estate deals themselves, that would be ideal.

That said, since we can’t self-promote or advertise in these forums, I’d recommend continuing to network and research to find the right fit.

Malabute & Company CPAs525 Reviews
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Austin Cheatham
Accountant · Louisville, KY · Member since 2020 · 75 posts · 55 votes
2y
Hi, you've definitely came to the right place for an REI focused tax professional. While we aren't allowed to self promote on the forums, I'd recommend looking around to see who is providing value and reach out to see if they are accepting clients. Tons of good resources here!
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Account Closed
Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes
2y
Hey Tanya,

That sounds about right, I know folks that can do it for slightly cheaper but around that range is fair. Are they giving you advisory as well or just tax prep?
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Sean GrahamBusiness Member
Investor , CPA · Detroit, MI · Member since 2016 · 586 posts · 249 votes
2y
Quote from @Tanya Maslach:

Hi all,

I've been talking with a few companies that specialize in tax strategy and tax preparation for REI's.

I'm new here to BP (and my husband and I have 1 SFH that is a long term rental), and I'm doing research now to close at least 3 mid term rental deals in 2025. (One may be in KS, MO)

Does anyone have a tax specialist they can recommend I talk with? RIght now I'm getting rates at $2000 (to do tax prep for one LLC and personal), and wondering if anyone has recommendations for others I can talk with before moving on a decision.

Thank you all!

Tanya

Hey Tanya, what’s state are you in? The hurricane pushed the deadline for some states that were affected
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Tanya Maslach
OP
Member since 2024 · 130 posts · 95 votes
2y
Quote from @Account Closed:

Hey Tanya,

That sounds about right, I know folks that can do it for slightly cheaper but around that range is fair. Are they giving you advisory as well or just tax prep?

Hi Zachary: It's just tax prep. Not advisory. (Which seems odd, because if someone is actively preparing the taxes for us, it seems odd that they would SEE something in that prep, and NOT prepare the taxes in a more advantageous way for their customers.

But what do i know? I'm the one looking for a specialist. ;-)
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Account Closed
Accountant · San Diego, CA · Member since 2019 · 1k+ posts · 552 votes
2y
Quote from @Tanya Maslach:

Quote from @Account Closed:

Hey Tanya,

That sounds about right, I know folks that can do it for slightly cheaper but around that range is fair. Are they giving you advisory as well or just tax prep?

Hi Zachary: It's just tax prep. Not advisory. (Which seems odd, because if someone is actively preparing the taxes for us, it seems odd that they would SEE something in that prep, and NOT prepare the taxes in a more advantageous way for their customers.

But what do i know? I'm the one looking for a specialist. ;-)

Fair enough Tanya, definitely seems high priced for just the tax prep. I thought it was including advisory as well.
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Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
1y
From first glance the price seems high if its just tax preparation.

However, it is hard to understand what went into the pricing.

Is the LLC a single member LLC or a multi-member LLC? If its a multi-member LLC, there may be a partnership filing requirement.
Does the quote you received for the 1 rental or the 4 rentals(after you acquire the 3 in 2025)

Also it depends on your state of residency and what states you are acquiring the propreties. the more states involved, requires more state filing obligations which results in a higher price.
[email protected]917-280-8544
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Sean O'KeefePro Member
CPA | Accepting new clients | 50 States · Member since 2022 · 1k+ posts · 871 votes
1y
Quote from @Basit Siddiqi:

From first glance the price seems high if its just tax preparation.

However, it is hard to understand what went into the pricing.

Is the LLC a single member LLC or a multi-member LLC? If its a multi-member LLC, there may be a partnership filing requirement.
Does the quote you received for the 1 rental or the 4 rentals(after you acquire the 3 in 2025)

Also it depends on your state of residency and what states you are acquiring the propreties. the more states involved, requires more state filing obligations which results in a higher price.
@Basit Siddiqi is on to something here!
[email protected]628-241-0888
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