CPA recommendations - Atlanta area, multiple rentals

CPA recommendations - Atlanta area, multiple rentals

Member since 2018 · 7 posts · 6 votes

Hi Everyone, thanks in advance for any advice on this! 

I'm looking for a good CPA in Atlanta or someone remote who knows Georgia tax law.

I have 3 rental properties in Atlanta and just started managing 2 more here for my parents this year (currently doing it for free). I've been handling my own taxes with TurboTax and have done a fair amount of research to (try to) make sure I'm doing it right, but I would like a professional to review everything and make sure there aren't opportunities I'm overlooking. I'm also setting up a living trust with everything ultimately going to charities, so I would like to find someone who understands both the real estate and charitable planning side.

For the family management situation, I'm wondering if there's a more tax-advantaged way to structure compensation without running into licensing issues.

I'm looking for someone who works with rental property investors regularly and can help with planning (this year for sure and possibly long-term), not just filing returns. If your CPA has been helpful with situations like this, I'd really appreciate a recommendation. Also curious what you're paying for similar services - just want to make sure my expectations are realistic.

Thanks for any suggestions!

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  • Bill HamptonBusiness Member
    Accredited Investment Fiduciary, AIF®, Financial Planner, Tax Strategist, Real Estate Investor · Atlanta, GA · Member since 2012 · 2k+ posts · 979 votes
    11mo

    @Ellen Cheng

    Reach out to a few of the accountants here on BP that specialize in real estate taxation, tax planning, charitable planning, and living trusts. See who you connect with.

    I would also recommend looking for an accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

    I'm in the Atlanta area. Happy to answer any questions. 

    Hampton Tax and Financial Services LLC4.7106 Reviews
    • Member since 2018 · 7 posts · 6 votes
      11mo
      Quote from @Bill Hampton:

      @Ellen Cheng

      Reach out to a few of the accountants here on BP that specialize in real estate taxation, tax planning, charitable planning, and living trusts. See who you connect with.

      I would also recommend looking for an accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

      I'm in the Atlanta area. Happy to answer any questions. 


  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    11mo

    There's a lot of great CPAs on here. I'd say the most important thing is that they're real estate focused and in your case know about trust set up as opposed to being local. I'd recommend reaching out to a few and seeing who you connect well with. 

    • Member since 2018 · 7 posts · 6 votes
      11mo
      Quote from @Aaron Zimmerman:

      There's a lot of great CPAs on here. I'd say the most important thing is that they're real estate focused and in your case know about trust set up as opposed to being local. I'd recommend reaching out to a few and seeing who you connect well with. 


       Thank you Aaron, I will do that!

  • Member since 2018 · 7 posts · 6 votes
    11mo

    Thanks so much, Bill! Good advice!

  • Jake BakerBusiness Member
    Flipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 696 votes
    11mo

    @Ellen Cheng

    PM me and I'll send you some recs that we like to work with. 

    BookkeepingRE - Bookkeeping for Real Estate & Service-Based Businesses52 Reviews
  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · Sarasota, FL · Member since 2017 · 5k+ posts · 3k+ votes
    11mo

    @Ellen Cheng, I just sent you a DM with some helpful resources Feel free to check it out, and happy to connect if you need anything.

    INVESTOR FRIENDLY CPA®4.9242 Reviews
    TaxMD® | Tax Planning Software
  • Stephen QuesinberryBusiness Member
    Real Estate Agent · Cumming, GA · Member since 2016 · 229 posts · 157 votes
    11mo

    Hi Ellen,

    I’m up in Cumming and oversee about 300 units. I use one CPA firm for some of my partnerships and a different CPA for my personal returns, mainly because each has strengths that fit those specific needs. I’m happy to share more about why I split them if that’s helpful.

    For reference, the CPA I use personally is local to me, which I prefer because I can go into the office and meet 1–2 times a year to talk strategy. Their pricing has been about $1,200 per business entity return, and my personal return is also around $1,200. I can schedule strategy meetings whenever I need them (within reason), and that flexibility has been valuable.

    If you'd like to connect, I’m happy to share more about my experience and what’s worked well for me.

    Cornerstone Real Estate Partners
    View Page
  • CPA| New Clients Welcome| 50 States · Member since 2016 · 440 posts · 97 votes
    10mo

    @Ellen Cheng, hi. Great job getting this far on your own, once you add multiple rentals, family management, and a living trust with charitable goals, it’s smart to bring in a pro. You don’t necessarily need someone down the street, but you do want a CPA who (1) works with GA rental investors, (2) understands trust/charitable planning, and (3) can help with planning, not just filing. 

    There are several of us on BP who fit that profile, so I’d reached out to a couple and ask specifically about how they’ve structured fees, family management arrangements, and trusts for clients in similar situations.

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