Using tax professionals

[Vivek Shah]

Has anyone ever us ProactiveAT in Cary, NC. I've set up a meeting with them to find out some more information. Recently I've started investing in properties and I know my taxes are going to be very complicated. I wanted to find someone who can prepare taxes but I also want them to help me save as well. Basically find things I can write off and help me with things I don't even know about in the tax world. Any advice about taxes would help really. They also do bookkeeping but I don't have many properties yet for it to be tough. Isn't bookkeeping and preparing taxes the same thing though?

[Natalie Kolodij]

Saying bookkeeping and taxes is the same thing is like saying someone who trains horses is the same as an equine vet. 

One person organizes data into a program, knows the basics of accounting, and keeps data in a way that keeps you compliant. 

A tax professional knows countless laws, strategies, and techniques to SAVE you money, strategist your growth, and keep you compliant with the Internal revenue code. 

I haven't heard of the firm you're set to meet with- I would recommend asking if the CPA you'll be working with personally invests. I came from some really high end CPA firms....and they would not execute any of the more advanced REI related tax techniques because it wasn't their specialty.

Find a tax professional who knows real estate inside and out, and who presents their value not just in filing the tax return...that's like...the smallest piece of it. Really the value comes in their knowledge, advising, and proactive approach to putting you in the best position come tax time. 

Then fine a bookkeeper who is good at QB, and preferably also has a basic understanding of accounting.