So, you’re crushing it in real estate investing. Buying properties, collecting rent, maybe even flipping a few houses. But when tax season rolls around, things suddenly feel… less exciting. If your CPA isn’t proactively helping you save money and plan for long-term wealth, you’re leaving cash on the table. Before hiring a CPA in Austin, Texas, make sure they can confidently answer these seven key questions.
1. Do They Specialize in Multi-State Tax Compliance?
Own properties in multiple states? Congrats—you’ve entered the world of multi-state tax chaos. Each state has its own rules, and missing a filing can lead to fines that eat into your profits. A solid Austin tax accountant makes sure you’re compliant everywhere, so you don’t have to stress.
2. Do They Understand Passive vs. Active Income Strategies?
Here’s the deal: real estate income isn’t taxed the same for everyone. Are you a passive investor or an active real estate pro? The IRS cares, and so should your CPA. A knowledgeable tax advisor in Austin will structure your investments to keep your tax bill as low as possible.
3. Can They Advise on Tax-Efficient Investment Structures?
LLC? S-corp? Holding properties in your personal name? The way you structure your investments affects your tax liability, legal protection, and long-term gains. A proactive Austin accounting firm will guide you toward the best setup to protect your assets and maximize deductions.
4. How Proactive Are They in Tax Planning?
If your CPA only talks to you in April, that’s a problem. Smart investors work with a small business CPA in Austin who’s thinking ahead—helping you take advantage of tax breaks, depreciation, and 1031 exchanges before it’s too late.
5. Do They Offer One-on-One Advisory Services?
Real estate investing isn’t a one-size-fits-all game. You need tailored strategies, not generic tax advice. A great CPA firm in Austin, Texas will sit down with you (virtually or in person) to create a tax plan that actually works for your investment portfolio.
6. Are They Experienced with K-1 Reporting?
If you invest in real estate partnerships, syndications, or REITs, you’ll get a Schedule K-1. And trust us, K-1s can get messy. An experienced Austin accounting service ensures your filings are accurate, so you don’t accidentally trigger an IRS audit.
7. Can They Help You Build a Long-Term Tax Strategy?
Real estate isn’t just about this year’s tax return, it’s about building wealth for the long haul. A forward-thinking CPA in Austin, Texas will help you leverage cost segregation, optimize depreciation, and even plan for tax-efficient exits down the road.
If Your CPA Isn’t Answering These Questions with Confidence, It’s Time to Switch to Insogna CPA.
At Insogna CPA, we help real estate investors keep more of their money, stay IRS-compliant, and grow their portfolios with confidence. Whether you own rentals, flip properties, or invest in syndications, our expert Austin accounting services have you covered...
Let’s build your real estate empire without the tax headaches. Contact Insogna CPA today!