Quote:
Originally Posted by winson604
Dumb question but who's the expert on all things this? Accountants?
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Slumlords
Because landlords know how to maximize real estate profits by knowing the rules
In my experience with accountants, it's hit and miss. Since there is so many categories of accountants, one will go cross eyed when It comes to real estate, and another one will save you 8000$ on taxes per year.
Sure any accountant can look up the laws and regulations, and get you answers, but at the end of the day, you want an accountant that primarily does real estate + family mixed real estate.
You can find out real quick know good they are, by asking some very basic questions over the phone. If their answers are "uhh uhmmmm il find out for you" vs "yes clause 14.8 of xyz let's you do this", you know who to pick.
On the other end, finding an accountant that has your best interest, and has great communication is the other half of the battle