It's important to have a good CPA or accountant.
Although I have no personal grudge against companies like H & R Block, I feel very strongly about the need to find a single individual to work with year after year who understands your personal financial situation and, as a result, can become involved in your financial planning.
If you are a wage earner whose family income is in the $15,000 to $25,000 rang and perhaps you own one rental property, then a local accountant might be satisfactory for the type of professional counseling that you'll need.
My suggestion would be to talk to other investors and investment group that you belong to and find out what tax practitioners they use.
Or, go to the yellow pages.
Makes some telephone call and tell the accountant that you'd like to stop in and discuss the possibility of his or her handling your tax matter in the future.
Spend about 30 minutes with the accountant to determine whether or not you can get along with them personally and find out a little bit about his or her real estate background.
What is their accounting experience relating to real estate? Not all accountants and lawyers understand real estate but most people don't know that.
Also, don't be hesitant in discussing professional fee for the work that they are going to perform.
If the accountant responds by saying that the fee is going to be a function of the amount of work that you want him or her to do, then ask what they charge on an hourly basis and how you might reduce their professional bill by providing more detailed records.
Although I have no personal grudge against companies like H & R Block, I feel very strongly about the need to find a single individual to work with year after year who understands your personal financial situation and, as a result, can become involved in your financial planning.
If you are a wage earner whose family income is in the $15,000 to $25,000 rang and perhaps you own one rental property, then a local accountant might be satisfactory for the type of professional counseling that you'll need.
My suggestion would be to talk to other investors and investment group that you belong to and find out what tax practitioners they use.
Or, go to the yellow pages.
Makes some telephone call and tell the accountant that you'd like to stop in and discuss the possibility of his or her handling your tax matter in the future.
Spend about 30 minutes with the accountant to determine whether or not you can get along with them personally and find out a little bit about his or her real estate background.
What is their accounting experience relating to real estate? Not all accountants and lawyers understand real estate but most people don't know that.
Also, don't be hesitant in discussing professional fee for the work that they are going to perform.
If the accountant responds by saying that the fee is going to be a function of the amount of work that you want him or her to do, then ask what they charge on an hourly basis and how you might reduce their professional bill by providing more detailed records.