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Tax Season is here (gasp!)
What should my accountant be able to do? According to research, 4 things are key:
- Find and leverage as many tax advantages as possible (of which there are MANY for real estate investors).
- Follow the legalities of our ever-changing tax code.
- Keep track of your ongoing business transactions.
- Stay organized, using a financial record-keeping system that makes sense.
Seth Williams in his REtipster article, “Finding The Right Accountant For Your Real Estate Business” provides a list of great questions to use in interviewing a real estate accountant for your business. I have used his list of questions with great success and happy to report that I just may have found the right EA/CPA for my business.
To see the list of questions, reference the article by Seth Williams: Finding The Right Accountant For Your Real Estate Business http://retipster.com/real-estate-accountant/
I believe there may be plenty of other great resources out there, however for me, I found that Seth’s article provided the basics of what I needed so I decided to stop there.