- How familiar are you with accounting and tax preparation as it relates to real estate investing?
- How familiar are you with 1031 exchanges?
Can you set up an LLC for us?(Edit: yes)- Is an LLC the best entity for our situation, and, if not, what is?
- I understand Texas has a law regarding taxation of LLC's after some monetary limit ($125k? Profit or revenue?) - are you familiar with this, and, if so, could you elaborate how we could structure our business to avoid any financial 'hits' regarding this and other laws?
- Any provisions that must be met by us after our specific entity is established (e.g., meetings, minutes, how often)?
- How often do we need to see you?
- What material do you need from us?
- How is your fees for services structured?
Thursday, August 18, 2005
Meeting with CPA Today - Help!
If you recall, I cancelled the meeting with a CPA two weeks ago due to cold feet. After getting a positive recommendation from a Realtor-client of hers, I decided to reschedule. So I called her this past Monday and left a message. She called me back on Tuesday, and we scheduled a meeting for today after work. In preparing for our meeting, I'm trying to come up with a list of questions to ask. After explaining to the CPA what it is my wife and I have done so far and what we plan to do, I'll jump in with the questions. Here is what I have so far:
Subscribe to:
Post Comments (Atom)
4 comments:
How about:
Do you invest in real estate?
How many ways do you know of that real estate can help reduce our taxes?
Do you know the difference between a real estate dealer and real estate investor? Do you know how the IRS determines those classifications?
Aaaah! You just reminded me! We haven't had our yearly corporate meeting. Those minutes are important in the case that the IRS is looking to see if you've got a legitimate corporation, or just an alias of yourself.
Shaun - Thanks for the additional questions. I can't believe I forgot the first one. :)
Trisha - Glad to be of help! :)
Oh, yeah--I also thought of something to ask the CPA. You should ask her if she knows a good real estate attorney. Usually, the professionals who deal with REI'ers know each other. You could have the attorney set up the business for you and also tell you from the legal perspective whether an LLC is the right thing for your situation. Keep in mind--all the CPA will offer you are the tax benefits.
Post a Comment