Anyone use Keystone CPA?

Question

Does anyone use Keystone CPA for their financial advising and Tax preparation? I am looking to get a real estate tax advisor to ensure I get the best deductions and wanted to see if anyone had any experience working with them.

They charge $5500 for the first years "Tax Savings Plan" and then around $1,000 for following years.  On top of that the annual filing is $1200 for the basic filing and them more for any additional activities.

Has anyone worked with them and feel like the fees were worth the service you were provided? Online reviews were mixed between one star and five stars (nothing in between).

Basit Siddiqi · Answer

Amanda Han is a CPA at Keystone CPA, Inc.

Amanda wrote the book "The Book on Tax Strategies for the Savvy Real Estate Investor: Powerful Techniques Anyone Can Use to Deduct More, Invest Smarter, and Pay Far Less to the IRS!". She was a guest on several BP Podcasts.

She definitely knows her stuff.

The price is worth it if she can save you that amount back in tax savings. The question is will she be able to save you that much in tax savings?
If you have a large real estate portfolio - she may be able to save you that amount in taxes. If you are just starting out - they maybe not.

Have you tried connecting with other CPA? They may be able to offer a lower price point for their services.

Amanda Han · Answer

Thanks for your inquiry Margot and thank you to Basit for your feedback. We are currently at capacity for the 2019  year but if you are still looking for tax planning in 2020 then feel free to circle back with Ivoire in our office. We also have a client review page on our website as well as some reviews on Google and Yelp I believe that you can checkout. Thanks again for your post!

Greg Hiers · Answer

Had an intro appointment with them today and they absolutely blew me off.  Guess they don’t need our business!

Garrett Wilson · Answer

Thank you both. @Basit Siddiqi,  I actually reached out to Keystone CPA after reading the Savvy Real Estate Investor book because I liked what I read.  I am just starting out so they most likely wouldn't be able to save me enough to make up for the cost. I have only connected to one other CPA.  If you are a RE CPA or know of any good ones I could reach out to, I would love to get their information.

Basit Siddiqi · Answer

@Margot BaldwinThey may be at a stage of their business where they are only working with larger/more established investors/businesses.

You can still get some value even if you don't use them for the tax return.They can provide you the framework of additional items that may be deductible that you didn't think about before.Amanda Han, a partner at Keystone, wrote a tax book for real estate investors a couple years ago. You may want to consider giving that book a read.Good luck in your search for a CPA.

Kristen Caccavo · Answer

Any updates on this thread? I'm looking into switching over to Keystone as well, but would like to hear others' feedback.

Tyler Bond · Answer

Anybody have any updates on working with Keystone CPA?

James Sun · Answer

Keystone has set themselves up as a "premium" CPA services company.   Unless you have a complicated situation with DSTs, syndications, multiple properties, trusts, etc. ,I can't see how they are worth the premium price.  Don't be fooled into thinking they have some magic method for lowering your tax liability thousands of dollars just because you are paying thousands of dollars for "advice" and tax return preparation.

I think someone should do a blog post on when and when it's not worth it to pay top dollar for certain professional services.  The problem is most investors have no clue and think paying more money (in this case multiple times more) results in outcomes that warrant the cost.

Caleb Heimsoth · Answer

@Garrett Wilson. That sounds super expensive

Garrett Wilson · Answer

Hey @Mark S. - I have stopped looking for the moment. The company I currently work for pays for our tax return fees and since my portfolio is so small right now, I do not see value in paying high dollar for minimal work. I will update this post if that changes. Thanks!

Anyone use Keystone CPA?

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