I'm looking for a reliable and RE experienced CPA in San Diego.

I'm looking for a reliable and RE experienced CPA in San Diego.

Investor · San Diego, CA · Member since 2017 · 107 posts · 35 votes

As the post mentions, I'm looking to hire a reliable, trustworthy and more importantly RE experienced CPA here in San Diego preferably. I can possibly consider a long distance one in cities that we travel to often like New York city, Austin, Dallas and Miami to start writing those trips off. We have just acquired our first property here in SD which we are house hacking which other 4 tenant. The property is going under major renovation work. Hence I want someone to help us to devise a good tax plan and subsequently do our tax filling.   

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Investor · Miami, FL · Member since 2013 · 807 posts · 475 votes
5y

@Michael Ndjondo makadi

I highly recommend you do some self education in addition to hiring your CPA.

Read books like Tax Strategies and Advanced Tax Strategies (Amanda Haan) and Loopholes of Real Estate and Tax Free Wealth (Tom Weelwright).

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  • Investor · Miami, FL · Member since 2013 · 807 posts · 475 votes
    5y

    @Michael Ndjondo makadi

    I highly recommend you do some self education in addition to hiring your CPA.

    Read books like Tax Strategies and Advanced Tax Strategies (Amanda Haan) and Loopholes of Real Estate and Tax Free Wealth (Tom Weelwright).

  • Whitney HuttenPro Member
    Investor · Boulder, CO · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    @Michael Ndjondo makadi I would find a top notch CPA / legal firm combined where they invest in real estate themselves. Think outside the cities you are asking about, and just go find the best you can afford out there. I've been working remote with my firm for 5 years!

  • Investor · San Diego, CA · Member since 2017 · 107 posts · 35 votes
    5y

    @Nat C.

    Thanks for your input. I did read the first 2 books you mentioned and they were really an eye opener for me. Hence, I think I know what I’m looking for from a CPA.

  • Investor · San Diego, CA · Member since 2017 · 107 posts · 35 votes
    5y

    @Whitney Hutten

    Thanks for your input. That makes a lot of sense to make sure I find a great one.

  • Real Estate Agent · San Diego, CA · Member since 2014 · 338 posts · 176 votes
    5y

    @Michael Ndjondo makadi

    I have a great CPA/Tax Strategist here in San Diego. I can message you their contact info.

  • Investor · San Diego, CA · Member since 2017 · 107 posts · 35 votes
    5y

    @Mark Frattini

    I’d appreciate it very much.

  • Basit SiddiqiBusiness Member
    Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
    5y

    @Michael Ndjondo makadi

    House hacking makes your tax situation more complex.
    You purchased a property that is treated as both an investment property and a personal residence. As such, payments that you make need to be prorated between business deductions and personal deductions.

    Payments that you make normally fall into one of 3 buckets
    100% of the payment can be factored in somewhere on the return
    Partial payment can be factored somewhere on the return
    0% of the payment can be factored in somewhere on the return

    House-hacking also has considerable tax implications in the event that you want to sell this property.

    You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.
    You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion

  • Member since 2021 · 7 posts · 6 votes
    5y

    @Mark Frattini Could you also message me the contact info for the CPA/strategist? Thank you!

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