Finding a good Accountant is a huge benefit to investors.
Good Accountants should understan:
- Income taxes. This one is just obvious.
- Capital Gaines Taxes. They should be able to talk to you about how they are incurred and how to avoid them best. There are a lot of accountants that understand this subject but can't specifically give you information dealing with real estate specifically. I suggest looking for an accountant that deeply understands the real estate write offs and side of accounting.
- 1031 tax defered exchanges. For most people the 1031 exchange is a complicated process. Why not get a professional that understands this? The 1031 is one the great ways to keep your wealth and away from taxes if utilized correctly.
- Corporations. Most accountants can do this. However, which is best for your situation? The LLC and corporation deal differently when investing in real estate. Did you know that the LLC can be taxed as a corporation? Does your accountant know this?
Finding a good accountant is so usefull in keeping your profits where they should be...in your pocket.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125