Accountant for out of state investor
I'm a new investor (purchasing my first duplex) which should be closing in the next week or so. I live in Washington State, and my property is in Indianapolis. Should I get an accountant in my area for taxes next year, or get one in the Indianapolis area? I'm assuming I'd just go with one in my area, since they'd be more familiar with my local tax laws than someone from out of state, but I just wanted to ask around on here and see what you guys thought before I started looking around for one. Thanks!
Most Popular Reply
@Phil T.
As a resident of Washington who is looking to invest in Indiana - You will be required to file a non-resident tax return with the state of Indiana.
This non-resident return will report your rental activities in the state.
The great thing about Washington is that they do not have a state income tax(they just have a B&O Tax which won't be applicable here).
You should look for an accountant who is familiar with real estate activities. While an accountant located in Indianapolis who is familiar with real estate taxation is preferable - I would pick an accountant who is familiar with real estate taxation over an accountant in Indianapolis who is not familiar with real estate taxation.
- Basit Siddiqi
- [email protected]
- 917-280-8544
