5 Questions Every Real Estate Investor Should Ask Before Hiring a Tax Professional

Written By Natalie Kolodij

The first several years of my career I worked for CPA firms that “specialized in Individual and small business clients “. Translation: We work with basically anyone, including real estate investors. While this type of generalized firm can be a great fit for many taxpayers; if you’re a real estate investor it may not be the best option for you.

“What Questions Should I Ask a Potential CPA?”

  1. When should I do a cost segregation study on my rental property?

  2. Is it possible to deduct losses from my short-term Rental (STR) if I’m not a Real Estate Professional (REPS)?

  3. Can I claim Real Estate Professional Status (REPS) if I have a full-time W2 job?

  4. If I flip a few properties each year and hold them for at least one year do I avoid self-employment tax?

  5. Can I have a home office if I own several rental properties?

Natalie Kolodij