Whether you are renting properties, relocating houses or operating a real estate agency, finances can get complicated fast. Between juggling expenses, calculating taxes and preparing IRS regulations, it is easy to be lost. That is the reason you want a good accountant, someone that knows real estate.
If you are looking up "real estate accountant near me" already, you are on the right track. But how can you get the right one hired?
This article shows you exactly how to find a great real estate accountant, somebody who can save you money, keep you compliant and also expand your real estate business.
Steps to Find the Best Real Estate Accountant Near You
Below are the 8 steps that can help if you’re trying to find the best “real estate accountant near me”:
Step 1 : Understand Why You Need a Real Estate Accountant
Know exactly what you want before you begin searching. A real estate accountant is no ordinary CPA. They handle real estate matters, tax rules and investments. They assist with things like:
- Rental income & expense tracking.
- Depreciation & 1031 exchanges.
- Real estate tax deductions.
- Choosing the proper business structure (LLC, S-Corp, etc).
- Audit protection & IRS correspondence.
- Capital gains planning.
They know property rights and how your properties impact your bottom line.
Therefore, in case you have ever asked yourself "Do I need a real estate accountant near me?" The answer probably is yes, particularly in case you have several properties, a growing portfolio, or operate a real estate company.
Step 2 : Search Locally with the Right Tools
Locating a real estate accountant nearby isn't hard if you know where you can look.
Begin with :
- Google Search: Try to use keywords like "real estate accountant near me" and "real estate CPA in your city".
- Yelp & Google Reviews: These offer customer feedback and star ratings.
- LinkedIn: You are able to filter based on location and industry.
- Referrals: Ask your real estate agent or lawyer or fellow investors.
- Professional Associations: Try the AICPA directory or your state's CPA society.
Local accountants are generally more acquainted with state tax rules and property market trends in your town.
Step 3 : Check Their Real Estate Expertise
Not every accountant comprehends real estate accounting. And that matters.
Once you narrow down your list, check if the accountant:
- Has worked with real estate investors, agents or landlords.
- Knows rental property rules, depreciation and capital gains.
- Help with business structures (LLCs, S-Corps).
- Knows real estate tax-saving methods.
- Can do bookkeeping & tax planning.
Ask questions like "How many real estate customers do you presently work with?", "How many real estate clients do you presently serve?", "Could you assist with 1031 exchanges or cost segregation?", "Do you help with year round planning or simply tax filing?", You want somebody who speaks your language and knows your challenges.
Step 4 : Assess Their Credentials & Experience
Always double check qualifications.
Look for these three fundamental clues of trustworthiness:
- License CPA: Make certain they're a Certified Public Accountant.
- Years of experience: Look for somebody with 3-4 years in real estate tax and bookkeeping services.
- Memberships: Are they members of NAR, AICPA or regional real estate investment groups?
Ask if they know about QuickBooks Services, Buildium or other accounting software frequently used in real estate.
Step 5 : Ask About Their Services & Prices
Not all real estate accountants provide exactly the same service. Be sure they cover everything you require and also at a reasonable price.
Services generally include:
- Bookkeeping & expense tracking.
- Tax preparation and filing annually.
- Entity selection/setup.
- Audit support.
- Strategic tax planning.
- Payroll or contractor payments (if you have a team).
Some charge by the hour and others offer flat monthly packages. Excellent accountants are upfront about price and can explain what is included.
Step 6 : Set Up a Consultation
Schedule a 15-30 minute consultation, many accountants provide it totally free before you make a decision.
During this chat listen to :
- Style of communication: Do they make it easy to talk to?
- Responsiveness: Do they answer questions clearly?
- Listening skills: Do they spend time understanding your needs?
This is your opportunity to share your business, financial goals and tax challenges. A great real estate accountant is going to share insights at your 1st meeting, before you sign on.
Step 7 : Read Reviews & Get Referrals
Online reviews can be helpful, but ask for real referrals, particularly from real estate individuals.
Questions to ask others:
- "How has your accountant helped you save money?"
- "Are they reliable during tax season?"
- "Do they communicate well?"
- "Have they ever helped you solve a tax issue or answered the IRS?"
Best feedback comes from actual experience, from somebody with a similar business or property portfolio.
Step 8 : Look for Long Term Partnership Potential
Your accountant isn't someone you call in April. Ideally, they turn into your dependable advisor that helps you make smarter choices year round.
A good real estate accountant will assist you in :
- Budgeting for expenses and repairs.
- Plan for property purchases or sales.
- Learn about tax implications before big decisions.
- Set your books up for scaling up properly.
- Prepare for retirement or exit strategies.
Locating somebody that supports your long-term financial growth happens when you know you selected the right one.
Red Flags to Avoid
Look for these warning signs while hiring a real estate accountant:
- They don't take real estate clients.
- They don't ask about your business objectives or property strategy.
- They make vague promises or even stay away from questioning about pricing.
- They know nothing about the IRS Audit, real estate regulations or have outdated knowledge of it.
- They can not explain your tax position in simple language.
The right accountant should make your finances less complicated, not more confusing.
Related Resource
- Everything You Need to Know About Real Estate Accountants
- What Services Are Provided by Certified Public Accountants?
- Preparing for an IRS Audit: What Every Small Business Should Know
Searching "real estate accountant near me" is a great place to begin. But discovering the best involves digging a bit deeper.
You want someone experienced and focused on real estate, not a generalist. Take your time, ask the proper questions and find somebody who could save you cash, avoid IRS issues and also expand your real estate company for decades to come.
Finding the right real estate accountant isn't a cost. They're an investment. One that pays back with peace of mind, bigger tax savings and less financial headaches. Connect with our experts at The Fino Partners to learn more.
