Looking for help with tax planning in Utah

3 Replies

I am looking for any suggestions on a good tax accountant in the Salt Lake, Utah area that is savvy with real estate investing.   I have acquired some rental properties this year and will need some help with long term tax planning and yearly filing.  If you have had any good experiences or would like to recommend one, that would be great.

It would also be helpful to get some suggestions on what questions to ask and some 'red flags' to look for while selecting one.

Thanks in advance.

@Rob Hakes

There are several options to finding a local CPA.

1) Use the biggerpockets search function to see if someone already is in search of a CPA in Salt Lake City. I did a search and provided you links below. I like this choice because you can see who people recommended and ask people who they decided to go with and if they like working with their them.

https://www.biggerpockets.com/forums/51/topics/265...

https://www.biggerpockets.com/forums/51/topics/224...

https://www.biggerpockets.com/forums/86/topics/135...

2) Add the keyword alerts "Salt Lake City" and/or "Utah". You will notice that there are frequent posters who respond to posts that have these keywords. Network with these individuals and ask who they use for a CPA.

3) Attend local REIA events. These events will normally contain seasoned investors and would be more than happy to refer you to a CPA. You can find local REIA event through the Biggerpockets events section or meetup.com. Below are 3 events that will happen in and around the Salt Lake City Area soon.

https://www.biggerpockets.com/forums/521-events-an...

4) If you are still unable to find a CPA that matches your needs. You may want to reach out to a CPA that works with clients remotely. There are many CPA's on this site that do so. 

In the meantime - Feel free to ask any tax questions you may have. I would be glad to give you my opinion on the matter.
Also feel free to connect with me on Biggerpockets if you would like to ask me a question in the future!

In regards to your question on what questions to ask - a lot of people suggest to ask questions like "do you own real estate" or "do you have real estate investor clients". These questions are easy to lie about...(unfortunately). You should be clear to describe your tax situation(I am a buy and hold investor, i invest out of state or I fix and flip) and then wait to see how the CPA responds.

@Basit Siddiqi

Wow! thanks for taking the time to put all of this down.  I will definitely dig into the info.

I really appreciate it.

@Rob Hakes

Hands down, Mark Kohler. He's a lawyer/CPA. He lives in Idaho but has offices in Cedar City, Irvine Ca, Arizona and Idaho. Look him up on Youtube - he has tons of content/videos on subjects like "buying rentals through your IRA" and "putting your kids on payroll" and "the business owners guide to financial freedom". He has a weekly newsletter you can sign up for. He also has a podcast called Refresh Your Wealth, talking about tax strategies, current events (current tax bill), etc to help you live and achieve the American Dream. He's very funny and keeps talking about taxes fun and light. I just used him to set up my LLC for my rentals, and when tax time comes I will probably use him as well. He's an investor himself, so he has that background also. (I feel like I should be getting paid to advertise for him lol!)

Hope that helps!  

Coco 

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