All Forum Posts by: Bill Hampton

@Idris Erinjogunola

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

Check out the Georgia Real Estate Investors Associatio, GAREIA, for local networking and education. 

I will be discussing the new tax laws at the GAREIA Cobb County meeting on Thursday, August 14th. You should check it out. 

Good luck investing. 

Congratulations on a great deal. 

@James Mays

If they are providing comprehensive financial planning, including tax planning, investment planning, insurance planning, retirement planning, education planning for children and grandchildren, and estate planning then yes that is worth $5000 and more. 

Tax planning by itself may be worth it depending upon how complex your situation and goals are and how much help you need. 

My recommendation is to find someone who provides comprehensive financial planning that includes the tax planning that you need. 

Good luck. 

@jen loch

Based on your questions, I recommend that you reach out to an accountant specializing in real estate taxation.

A good real estate tax accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation, 1031 exchanges and tax planning.

Consider working with your accountant remotely to expand your options.

I would also recommend looking for an 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.

@Sierra Michie

Yes, a fee-only financial planner can help you create a comprehensive financial plan including a spending plan, tax planning, asset allocation, retirement planning, education planning for children and grandchildren, and estate planning (wills and trusts). Most people need help in one or more of these areas. If you need help in one these areas I recommend that you have consultations with a few financial planners, ask about their services and pricing. Most fee-only financial planners will save you a lot more than they charge you. Fee-only financial planners won't try to sell you life insurance or the latest hot stock. If they do, run. 

Good luck.

@Kevin Collins

This is why you should raise the rent every year or every other year, even if it's a small amount. That way you train your tenants to expect rent increases and you get to profitability quicker. 

@Dan Mcknight

Congratulations on your purchase.

A good real estate tax accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation, 1031 exchanges and tax planning.

Consider working with your accountant remotely to expand your options.

I would also recommend looking for an 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.

@Carl Acree

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

STRs are a great way to save on taxes now that 100% bonus depreciation is back. 

A good tax strategist can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation, 1031 exchanges and tax planning.

Consider working with your strategist remotely to expand your options.

I would also recommend looking for a tax strategist 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.

@Jason C.

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

A good tax strategist can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation, 1031 exchanges and tax planning.

Consider working with your strategist remotely to expand your options.

I would also recommend looking for a tax strategist 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.

@Gp G.

You need to hire a financial planner. A financial planner can help you create comprehensive financial strategy including 401Ks, IRAs, and real estate, so you don't have to ask strangers on the internet for advice. 

A good financial planner can save you thousands of dollars in taxes, help you create a retirement plan, and help you create an estate plan. 

Good luck and let me know if I can be of assistance.