How to Choose a Great Accountant for Landlords
Don’t assume that all accountants are created equally. When it comes to choosing an accountant for your investment properties, be sure to ask these 5 questions:
- Have they had experience in owning or managing investment properties themselves?
- Are they aware of recent changes to property taxes?
- Will they review your previous years returns and advise on what they would do differently as your accountant?
- Are you paying to educate them when you actually need a specialist?
- Will you be able to consult with them throughout the year and plan improvements/upgrades
- Do they understand your property investment goals?
You’re not just looking for a tax preparer”” you know, the guy waiving the sign on the sidewalk… Your accountant should be asking you questions and helping to identify capital improvements and rental property-related expenses. You’re looking for a specialist who can help you with your growing portfolio.