Real Estate Agent · San Jose, CA · Member since 2015 · 94 posts · 73 votes
Hi All,
As a new investor it's quite a bit intimidating jumping into the field without knowing much about the business. One of the first things I've been told now that I own rental property and am looking to purchase more is to consult with a CPA. Since I don't have any contacts in the RE world I've been left to find one via Google/Yelp.
Recently I found Dunham Associates in San Jose and have an appt tomorrow. They are charging for the consult and I read recently here on BP that any good CPA does not charge for a consult. Like most things to a newbie investor conflicting information always makes things more confusing.
Anyways, I thought I would toss the question out there if anybody could recommend a CPA they trust or use. Otherwise I'll take my chances with the luck of the Google draw and hope things work out well.
Sunnyvale, CA · Member since 2014 · 10 posts · 12 votes
11y
Hi Jason,
I have not dealt with them personally, but I looked them up with the state board. Their license is clear and they have not had any enforcement action taken against them. Here is a link that may be helpful in looking for a CPA: http://www.dca.ca.gov/cba/consumers/slectcpa.shtml
Not sure what your specific questions or concerns may be, but you can find a lot of good information in the IRS tax publication here: http://www.irs.gov/pub/irs-pdf/p527.pdf
There are other publications that may be relevent (ie. Pub 946, How to Depreciate Property) that you can also find online and are listed on page 2 of Pub 527.
Depending on what your tolerance is for numbers and taxes, the info above may tell you what you need to know and save you some money.
Alameda, CA · Member since 2015 · 69 posts · 16 votes
11y
He's a little further north of SJ, but Jino Joseph has been great for handling my wife's business financials, and our taxes. I believe he also works/travels to SJ too.
Sunnyvale, CA · Member since 2014 · 10 posts · 12 votes
11y
Hi Jason,
I have not dealt with them personally, but I looked them up with the state board. Their license is clear and they have not had any enforcement action taken against them. Here is a link that may be helpful in looking for a CPA: http://www.dca.ca.gov/cba/consumers/slectcpa.shtml
Not sure what your specific questions or concerns may be, but you can find a lot of good information in the IRS tax publication here: http://www.irs.gov/pub/irs-pdf/p527.pdf
There are other publications that may be relevent (ie. Pub 946, How to Depreciate Property) that you can also find online and are listed on page 2 of Pub 527.
Depending on what your tolerance is for numbers and taxes, the info above may tell you what you need to know and save you some money.
Real Estate Agent · San Jose, CA · Member since 2015 · 94 posts · 73 votes
11y
@Jeff Tang Thanks for the # to Jino. I did a Google search and it looks like he has a Santa Clara office. Thanks for the lead.
@Steve B. Great info Steve. I didn't even think to look them up. Thanks for checking into that for me. As for my tolerance for #'s, it's very low. I'm more brawn than brains thats for sure but I'm learning slowly. BP has been an amazing resource.
Hayward, CA · Member since 2014 · 90 posts · 47 votes
10y
Not sure I agree with the whole good CPA doesnt charge thing. Good CPA value their time a lot more than others.
Alpha Business Service in Fremont, they are EAs, but give good general tax advices(I paid them for consultation for my biz before)
I actually don't find talking to a CPA that useful unless they specialize in real estate tax. Most of CPAs are not specialized in real estate and are not tax strategy planners.
Real Estate Agent · San Jose, CA · Member since 2015 · 94 posts · 73 votes
10y
Hi Eric, thanks for the bump on the thread, I forgot to post an update. After I first posted this I met with Rick Dunham, he's the founder. I got a good impression from the meeting. He noted that he invests in RE as well so that was good.
Im not sure if he is a strategy planner although he did say if I wanted to bring him the properties I was interested in he would run the numbers for me to decide if it was a good deal or not. Thankfully I have BP to help with that so I can run the numbers on my own and so far for two properties I have purchased this year they have been good deals.
Our 30 min scheduled meeting last 1 hour since we were talking so much about property, LLCs, taxes, family, crossfit, good chat. I'll use them in 2016.
Accountant · Campbell · Member since 2025 · 4 posts · 0 votes
1y
The early days of real estate investing come with a steep learning curve, and finding the right CPA can make a big difference, especially when you are starting to scale.
I am a CPA myself (based in Campbell) and work with a number of rental property owners and early-stage investors. If it’s helpful, happy to chat or share questions you should ask during the meeting to make sure you are getting value.