All Forum Posts by: Kevin DeVargas

@Nicholas Balcom,

Good question budgeting is the first step to getting you finances in order. I recommend Dave Ramsey Financial freedom. I can also email you a budget if you're interested. 

Let me know if I can further assist you.  

Hi Everyone, 

I'm looking for a reputable whole seller in the Gwinnett Georgia area. Can I get a referral?  also what would be the best way to meet/network with wholesalers in my area? 

Hi @Whitney Robert Caldwell

You’re in the right place must CPA’s on this Bigger Pockets forums specialize in Real Estate. I would research their previous post and reach out to them.

Thank you, 

Kevin De Vargas, CPA

@Rod Krause,

If you decide to select a CPA that’s located in CA or GA you more than likely will be serviced remotely because of the pandemic. I would focus more if the accountant specialized in Real Estate and their reputation. The good news is that you’re in the right place so many accountants on here specialize in real estate. Good luck. I’m sure you’ll find an excellent accountant.

Thanks.

Kevin De Vargas, CPA

@Anthony Cologna,

Sorry to here that your having such a hard time finding an accountant to correct your Quickbooks online. The good news is that your in the right place, most accountants on the Bigger pockets furoms specialize in real estate and have managed QBO for clients. I would not limit mself to a local accountant especially with everything that's going on today. Even local accountant may have to help your remotely. 

I recommend cantacting a few accountants evaluate them before moving forward. 

Let me know if you have any further questions. 

Thank you. 

@Michael Roacher,

Your in the right place most accountants on Bigger Pockets spercialize in the Real-Estate. I would not limit my self to accountants only in New York expescially with whats going on today. Accountants may have to assist you remotely either way. 

I agree with @Lance Lvovsky reach out to a few accountants and get a feel for them. 

@Nick B., 

Please note if your 401K distrubution does qualify for “adverse financial consequences”. You would would not be charged a penalty but would still need to pay income tax on the distrubution. The taxes were deffered when deposited to the 401k  and would become due once withdrawn. Please let me know if you have any other questions. 

Thank you. 

@Callum K.  Thanks for the update!!  I read there would by no prepayment penalties on the government site But they have updated the site multiple times, it feels like a moving target. Thank again, appreciate your input. 

@Ry Dillundefined

That's an excellent questions. The accrual bases is helpful when you have lots of receivables and payable outstanding. Most small business owners use cash bases. 

In reference to the software. Most software can do the job but how well it functions is mostly based on the users knowledge software and utilities is provides. For example QBO offers Real estate chart of accounts if you select that industry when setting up. Let me know if you have any further questions. 

Thanks, 

Kevin De Vargas, CPA
 

@Bleau Deckerd, 

The devil is in the details. Quickbooks is a very common software but when setting it up I recommend choosing the Real estate option do the accounts can line up with your industry. also to be the most out of any software I recommend downloading a mobile version. That why you can make copies of your expenses as you incur them. Let me know if you have any other questions. 

Thanks, 

Kevin De vargas, CPA