All Forum Posts by: Bill Hampton

@Francisco Camacho

You came to the right place. Bigger Pockets is a great place to find a tax accountant that specializes in real estate taxation. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.

I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.

You should consider working with your accountant remotely to expand your options.

I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

Good luck.

@Robert Stephenson

If you have enough equity in your primary or rental you can get a HELOC or HELOAN and use the proceeds as a down payment to buy another rental. The interest would be tax deductible due to interest tracing rules.

Good luck. 

@Chris Clarkson

You should look into doing a 1031 exchange. A 1031 exchange will allow you to sell your building and use the proceeds to invest in a small multi family and/or medium term rentals. This will also allow you to avoid taxes on the sale. Please speak with your tax accountant asap or find a 1031 intermediary asap.

@Dave Foster is a great resource on 1031 exchanges. 

@Rebecca Gona

Bigger Pockets is a great place to find a tax accountant that specializes in short-term rentals. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.

I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.

You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

Good luck.

@Audrey Li

Bigger Pockets is a great place to find a tax accountant that specializes in short-term rentals. 

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.

I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.

You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

Good luck.

@Henry Clark

Good information. Thanks for posting. 

@Meg Rowlett

Bigger Pockets is a great place to find a real estate tax accountant.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.

I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.

I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

I'm in the Atlanta area.

Good luck.

@Caryn Fischer

I agree with Jaron, you should definitely have a consultation with your tax accountant and/or financial planner before you do anything. 

There are many tax accountants on Bigger Pockets that can help you with your situation. 

Good luck.

@Carl Rowles

I recommend a HELOC or Heloan on your primary residence or the rental if you have enough equity in either. The interest rate on a HELOC or Heloan may be better than the personal loan.

Otherwise, I recommend option two, using a personal loan. Don't use your emergency fund. 

Whichever loan that you decide to use, the interest will be tax deductible due to interest tracing rules. Make sure that your tax accountant understands this. 

Good luck. 

@Jeff Bateman

Bigger Pockets is a great place to find a real estate tax accountant.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.

I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.

You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

Good luck.