Help Getting A Good CPA For REI
I need to find a great CPA in MI but don't have anyone to ask for a referral around here so........What do i look for? What questions do i ask? What should i expect? (newbie stuff but we've always done our own taxes and since i'm actually MAKING some money now i need HELP!!)
becki
A few very important things to consider when looking for a good CPA. These are in no particular order, BTW.
First, can you get along with them? I don't have to actually like them (though it helps) but you need to be able to sit with them and discuss your tax situations on a regular basis. If the two of you simply don't click, it's worth looking elsewhere.
Second, do they currently have real estate investor clients? If so, what type of investor and how many clients? If all are landlords, it still may not help you much. If the CPA only has one or two investors, but a large client base of farmers (by chance), it's also doubtful that they are "up" on their real estate taxes.
Third, does the CPA invest in real estate? If you find one that does, you'll definitely have one that will know all the current tax codes for that type of investing.
Roger
I am also looking for some good real
estate acountant preferable in Metro
Detroit area. Could anyone please
list some one well versed in REI?
SAYANA
Thanks, Raj, that was exactly what i was hoping to find out. Funny you'd mention farmers, where i live is pretty farmy.
I've got to find a cpa soon, i've got so many questions and "what if's" that i'm driving myself crazy. When i get home, i'll call a few and make appointments to meet with them to see if they're what i need.
becki
Dear Lori,
I do not know where you are. I can give you the names of several here in LaLa land. They are investors and have years of experience.
I always find it best to go to their office and meet them. I prefer to meet in their real office in which they work. It will tell you an awful lot about them. I get very nervous when I see ledgers half opened and scattered over the floor. Or masses
of call back notes piled high. Or if his secretary or assistant has a very nervous look on her face. Or and this is the worst, he has this beautiful bimbo with highly extended frontal area, sitting there doing her nails and chewing gum. Does not have that tell tale callus on her index finger and no work upon her desk.
Kiss of death. I want a CPA who is dedicated to my work. Who is organized and speaks with authority and knowledge about all things accountable and real estatey.
Cheers, statisticaly Lucius
Thanks Lucius, for your input as well! I always enjoy the combination of wit and wisdom in your posts!
becki