CPA For Tax Planning

9 Replies | Memphis, Tennessee

Hello ! I’m new here and looking to invest i. My first property by doing a house hack. I would love to start the right way by having an investor friendly CPA capable of helping me plan and discuss exit strategies on certain properties ahead of time. Feel free to let me know if I’m jumping the gun but I would rather not TurboTax my way into investing. Any thoughts ?

You are looking at two different people they can either by CPA or not:

1. plan and discuss exit strategies

2, doing taxes (TurboTax)

3. bookkeeping

OK three.

Originally posted by @Ryant Nelson :
Hello !

I’m new here and looking to invest i. My first property by doing a house hack. I would love to start the right way by having an investor friendly CPA capable of helping me plan and discuss exit strategies on certain properties ahead of time. Feel free to let me know if I’m jumping the gun but I would rather not TurboTax my way into investing. Any thoughts ?

Reach out to Jimmy Luke, Titan CPA.    Excellent, experienced entrepreneur, real estate investor and most importantly CPA.  I have used him for the past 10 years and recommend him each time an investor asks for a recommendation.

@Ryant Nelson

When looking for a CPA, you should certainly perform your due diligence (as you are). You've got to strike the right balance between service and cost. Don't step over dollars to get pennies; i.e., a good CPA will be invaluable in keeping you in the good graces of the IRS while saving you money.

However, (a) don't overpay for an overhyped CPA and (b) pursue only tax strategies that are appropriate for your level of RE investing.

I would recommend that you speak to more than one CPA prior to making a decision. You can be comfortable with recommendations made by @Chris Clothier  (not that I know Jimmy Luke). Another choice that may be an excellent fit is BP member @Daniel Hyman

@Ryant Nelson

As @Bernard Reisz mentioned, it's important to shop around and see who's the best fit for you - price is certainly important but synergy between you and your CPA (since you are essentially a team) and value the CPA can provide you with should hold more weight when evaluating options. 

Good luck with your search!

Following, I am also in need of a great tax strategist. I have found several CPA’s who are good and have a great broad knowledge. But I have found many are just not well versed in the idiosyncrasies of mult family real estate. Ryant I am curious to see what you uncover.