All Forum Posts by: Jake Hottenrott

@Account Closed - There are a lot of great CPA and EAs right here on this forum that will be happy to assist. Some have REI niche specialties within the REI space if you have a particular niche you are looking to invest in. You may have limited success finding an REI friendly tax professional in your direct area, but here you have access to tax pros nationwide. Best of luck!

Ryan, 

good news.  You’ll have nothing to do with this in 2022.  It’s all 2023 tax, but how’s the time to start the conversation with a tax pro to plan!

@Natalie Kolodij - great tax pro told me that once #ItWasYou

@Natalie Kolodij - false, you can deduct the annual state filing fee of an LLC which you can not deduct if you do not have an LLC.

@Michael Henry - Check out @Natalie Kolodij's post above.  She's in Charlotte, posts a ton here in BP, and has been on a few podcasts.

@Tate Blackmon - In short you could potentially section 179 the equipment and the vehicles (there are some restrictions).  Depending on profitability, tax rates (Future rate projections), cash flow, etc. that might make a better case for the best course of action for your business.

You can't write off anything until you are actually IN business.

@Zachary Kubacki - Congrats on getting started.  Definitely talk with a proactive CPA who can help you set everything right up front.  If it's a general question, I'd probably post it right here.  A lot of the tax pros will help with general questions.  I'd also schedule a time to chat with a few before year end to see about getting a good fit going forward for your RE investment questions.

You need someone who is both a CPA and a CP-eh. 

No particular suggestions, just had to make the joke so that it wasn't stuck in my head all day.  Can't wait to see some of the suggestions!  Good luck investing!

Welcome back @Andrew DeLorenzo the best time to get back in is ASAP. Congrats on the townhouse and ask lots of questions and keep us updated on your steps forward in REI.