In Search of a CPA

[Jennifer Blanchard]

Hello,

I am looking for a CPA.

I am in FL and will start investing in RE with my sister, who lives in California. Our first property will be in FL and we also plan on looking to buy in the Midwest.

I need tax strategy planning advice and how best to structure our partnership.

Do I need to get this advice from a FL based CPA? 

Also, looking for CPA recommendations. Thank you.

[Jeff Nash]

@Jennifer Blanchard here is a tax directory (https://www.biggerpockets.com/...) where you can locate some folks that might be able to help. Whether you work with someone in person or remotely is just a matter of preference and personal decision to you.  With virtual meeting capabilities it probably is not as necessary to have someone within close proximity, but you need to make the call.   

[Jennifer Blanchard]

@Jeff Nash Thank you. I was not sure if it was necessary to find a CPA in FL or not. Sounds like it is not. Thanks for the directory- I appreciate you commenting.

[Basit Siddiqi]

tenants in common is likely the cheapest route when purchasing property with another individual.
However, creating an entity that will buy the property may be more convenient and provide some liability protection.

Also, there may be some savings on fees / costs if your sister(who resides in California) is not a managing member / general partnership of the entity.

The great thing about Florida is that they do not have a state income tax.

Best of luck!

[Jennifer Blanchard]

Thanks to everyone who reached out.