Looking for real estate CPA

Investor · Shepherdsville, KY · Member since 2016 · 87 posts · 48 votes

Hello fellow BPer's! I'm looking for suggestions on a great CPA that specializes in real estate. I recently bought my first rental but plan to own a lot more over the years. I am currently investing in the Louisville, KY market. Would it make sense to have a local CPA or does that matter? I'd like to get one lined up soon to get suggestions on what book keeping methods they prefer and not be scrambling around for one at the end of the year. Thanks is advance!

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Daniel HymanBusiness Member

CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes

@Fredie Robinson

If you can find a local that specializes in REI, that's great. But don't let geography be a barrier. Most CPA's can work seamlessly with you from miles away by leveraging technology. The more critical aspects to consider are

Expertise in real estate taxation
A reasonable fee structure
Communication (quality and quantity)
Tax planning abilities

My Online Accountant572 Reviews

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Robert T.
Investor · Cameron Park, CA · Member since 2015 · 64 posts · 72 votes
9y
http://www.ldevanscpa.com/
the other person is John Hyre. He's both an attorney and CPA
http://iralawyer.com/
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Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
9y
@Fredie Robinson

It is always preferable to get someone local because they are more likely to know how to properly file your state/local tax return properly.

If I am not mistaken - Louisville has a local tax return in addition to filing a Kentucky state tax return.

In regards to bookkeeping - You want to make sure that your rental activity and personal activity is kept separate. Have a bank account(and credit card) that you use only for business. this makes tracking expenses/income easier.

As you progress in your rental career - you may want to outsource the bookkeeping so you can focus on more important items that would grow your business.
[email protected]917-280-8544
Basit Siddiqi CPA4.979 Reviews
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Jordan O'Donnell
Crothersville, IN · Member since 2017 · 13 posts · 5 votes
9y
@Fredie Robinson and @Basit Siddiqi Just to clarify for both of you Louisville/Jefferson County does have an additional local tax return on top of your Kentucky state tax. I have attached a link to their forms and FAQ section on the gov site for your use.
https://louisvilleky.gov/government/revenue-commis...
https://louisvilleky.gov/government/revenue-commis... 2
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Daniel HymanBusiness Member
CPA · Milwaukee, WI · Member since 2016 · 2k+ posts · 1k+ votes
9y
@Fredie Robinson
If you can find a local that specializes in REI, that's great. But don't let geography be a barrier. Most CPA's can work seamlessly with you from miles away by leveraging technology. The more critical aspects to consider are
- Expertise in real estate taxation
- A reasonable fee structure
- Communication (quality and quantity)
- Tax planning abilities
My Online Accountant572 Reviews
Website View Page
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Fredie Robinson
OP
Investor · Shepherdsville, KY · Member since 2016 · 87 posts · 48 votes
9y
Thanks for the info and recommendations!
@Daniel Hyman @Jordan O'Donnell @Basit Siddiqi @Robert T.
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