CPA questions - what help does community need?

Question

Team,

As a CPA, I am trying to pivot my firm toward serving real estate professionals. Quick question: What types of questions, advice, services, or support does the real estate community need most from a CPA?

We have completed a wide range of complex tax returns for real estate owners and investors, and we've also performed several robust cost segregation studies. What other services or expertise would be valuable to real estate professionals?

Please feel free to share your thoughts, ask questions, or connect with me at www.RHECPA.com

Thank you!

Stephen Quesinberry · Answer

Oleg,

I'd say the most common help investors need is surrounding REPS--when to use it and when not to. That's the bulk of the tax related questions and topics that I see.

Oleg I. · Answer

Are you talking about in terms of Real Estate Professional Status? If yes - that is a complicated topic. In any case, I really appreciate your input

Matthew Schumacher · Answer

We (Tavola Group) made this same pivot several years ago, and it ended up being one of the best decisions for our firm.

What we discovered is that real estate professionals don't just need tax preparation, they need a strategic advisor who understands how real estate transactions impact taxes, cash flow, and long-term wealth building. The biggest demand we've seen is around proactive tax planning, entity structure optimization, retirement planning, depreciation strategies, cost segregation, 1031 exchanges, and guidance on when to buy, sell, or reposition assets from a tax perspective.

For agents and brokers specifically, many are looking for help managing irregular income, reducing self-employment taxes, creating accountable plans, and building tax-efficient business structures as they scale.

Another area that's been surprisingly valuable is bookkeeping, KPI tracking, and CFO-style advisory services. Many investors and agents are excellent at generating revenue but struggle with the financial systems and reporting needed to make informed decisions.

The firms that seem to win in this niche position themselves less as compliance providers and more as members of the client's advisory team. When you can speak the language of cap rates, cash-on-cash returns, depreciation recapture, financing structures, and deal analysis, referrals tend to follow naturally.

Based on your experience with complex real estate returns and cost segregation studies, I'd say you're already ahead of many CPAs entering the space. The next step is packaging that expertise into ongoing advisory and tax planning services rather than focusing solely on annual tax compliance.

Best of luck with the transition, there's definitely strong demand for knowledgeable CPAs who truly understand real estate.