6 Questions to Ask When Choosing a Real Estate CPA for Your Taxes

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Real Estate CPA

If you’ve joined the real estate investment world, then you understand already just how complex it may be. Especially when it comes to the financial aspect of it. Therefore, you are probably thinking about hiring a CPA to help you navigate those grounds. Click this to learn when business owners hire CPAs in general.

Deciding to hire a Certified Public Accountant is one of the best things you can do if you’re involved in real estate. No doubt that you will get great value from these professionals. You’ll get to manage your investments more easily, as well as, of course, deal with the taxes the right way, and take advantage of some of the tax benefits available.

Most people decide to work with these professionals specifically because of the taxes. And, while that is a smart move, understanding that a CPA can help with other financially related things is a must, as that will help you use their services to the fullest. In any case, once you partner up with the right pro, you’ll get the most out of it.

That’s just it, though. You’re wondering how to partner up with the right pros. That is, you are wondering how to choose the right real estate CPA for your taxes, and for anything else you may need. So, that’s what we’ll talk about below, listing the important questions you need to ask these professionals when deciding which one of them to choose and hire.

How Long Have You Been in This Industry?

First and foremost, you’ll want to know how long the professionals you’re considering have been in this business. When you go to https://adviseretax.com/blog/what-is-the-role-of-a-cpa-in-real-estate, for example, or similar sites, you’ll realize what these pros do, which will give you a better idea about what to expect from them. But, you also want to know if they’ve been doing this type of work for a while or not. 

Why is that so important, though? In a few words, the more experienced the CPAs are, the higher the chances that they will do a great job for you. And, in addition to checking for this piece of information on their official websites, you should always ask about it directly when you first get in touch, to be sure you know who you are dealing with and who you are thinking of hiring.

How Long Have You Been in This Industry

What Are Your Qualifications?

Next, you’ll want to check the specific qualifications of these professionals. Sure, once again, you can check this on the official sites, but asking directly is also important, just in case something has changed or in case you can’t find the info online. The bottom line is that you want to hire those CPAs who are perfectly qualified for the job you need to have done because not all of them will be.

Do You Have Experience With Clients in My Industry?

Here is another crucial thing to remember. Choosing experts who have experience in the real estate industry is important. Why? Because, of course, that way you’ll get the peace of mind you need, knowing that they’ll be able to handle the necessary work without any problems.

So, one more question to always ask in the interviews is this. Do you have experience with real estate businesses? If the answer is no, you should think twice before hiring that specific CPA. After all, there is no need to settle when there are certainly a lot of pros who have the experience you require.

What Specific Services Do You Offer?

I’ve mentioned above that people usually hire these accountants for tax purposes. But, I’ve also mentioned that they can offer other types of services as well. Planning future finances, advising you on how to reduce the tax burden in the future, helping you structure your investments aiming at maximizing tax savings…

Plenty of great things you can get from these professionals. That is if you choose the right ones. So, don’t forget to ask which specific services the experts offer before going any further.

What Is Your Availability?

Next, you’ll also have to check the availability of the Real Estate CPA you’re considering before making any hiring moves. Surely, you want them to be available when you need them and to provide you with the support you need at the right time. Thus, another crucial question to ask (find more) is what the availability of these experts would look like if you decided to hire them.

What Are Your Fees?

Naturally, you’ll also want to check the fees. This is one of those things that you absolutely won’t forget to do. Here is what you should remember, though. While asking about and comparing the fees is essential, you should never make your choice based on those alone. Instead, always keep the other facts in mind as well.

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