All Forum Posts by: Bill Hampton

@Sam Baumer

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

@Renee Machat

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking. 

I am in the Atlanta area, let me know if I can be of assistance. 

@Jonathan Bremner

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking. 

Good luck investing. 

@James Dager

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

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.

Good luck.

@Magda Rose

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

Good luck.

@Maria Jeanette

Here are some of the downsides of putting real estate into a self directed IRA or 401k.

No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.

Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds. You cannot use personal funds.

You must pay others to do repairs and manage the property. You can't even change a lightbulb.

You or your family can't use or live in the property.

You can't sell a portion of a property like you can sell portions of stocks, bonds, mutual funds, etc. You may have to sell the whole property to access the funds in the IRA or 401k when you retire and for required minimum distributions.

If you violate any of these rules you could blow up your IRA or 401k and the IRS could force you to distribute all of the assets in the IRA or 401k. This could lead to a huge tax bill and penalties.

Think carefully before you do this.

Good luck. 

@Andres N Herrada

Bigger Pockets is a great place to find a real estate 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 am in the Atlanta area. Let me know if you would like to meet up. 

Good luck.

@Jay Check

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking.

Check out the Georgia Real Estate Investors association, gareia dot com, for local education and networking. 

Good luck and let me know if you have any questions. 

@Justin Knepp

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

@Samantha Suero

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking. 

Good luck.