All Forum Posts by: Nicolas Montes
Nicolas Montes has started 1 posts and replied 3 times.
Quote from @Basit Siddiqi:
Congrats on the purchase of the 3-family house.
Is this 100% an investment property or is it a house-hack where you are living in one of the three units?
This would make a difference on how it is reported on your tax return.
Hi Basit,
I'm living in one of the units and renting out the other 2 via Airbnb & Furnished Finder (short term & mid term rentals)
Best,
Nico
Quote from @Bill Hampton:
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.
I appreciate the thorough response Bill! I'll keep those gems in mind in my search for an accountant
Best,
Nico
Hey everyone,
My name is Nico and I recently bought my first 3 family home in Western MA. I'm looking for a CPA that's experienced with maximizing RE returns.
I'm a small fish, just have 3 doors, so finding someone affordable is important to me.
I appreciate any recommendations!