How do you find value from your tax professional?

Question

Good afternoon BP. I am putting together a presentation for a national tax professional conference. We are continuing our research into the minds of a real estate investor. What adds value to you as a client from your tax professional?

Any responses are deeply appreciated!

Henry Clark · Answer

401k walk through different scenarios on 401k funding:

a. Take it all out and pay taxes.

b. Take a loan out

c. Do a solo 401k funding.

etc.

Henry Clark · Answer

Above does not cover estate planning.

Gifting limits versus step up.

Insurance planning to offset taxes

Henry Clark · Answer

Broad strokes- depends on size and type of investors, SFH, MFH, Commercial. tax considerations on the below.

TIF

Primary 2 out of 5 years

Cost seg

Depreciable lives

Capex versus expensing guidelines

Writing off personal expenses. Internet, vehicle, utilities, etc with live in situation on commercial property

House hacking

BRRRR expenses

Kids advertising fees

Closing costs- expense or capital

Seller financing- non compete agreements, ongoing management fee to seller,

1031 examples and timelines

MFH developments. Percentage of completion accounting

Business versus asset purchase. Value assignment to assets.

Equipment leases versus purchase.

How do you find value from your tax professional?

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