Tips for Hiring a Real Estate Accountant

Most businesses will require a CPA, which is true for real estate companies as well. Good accountants will be able to help you with more than just taxes; they can help you with all of your financial needs. They can assist you in keeping track of your receipts, invoices, and other financial documents. They can also help you by preparing your tax returns and helping you keep up-to-date on the latest tax laws and regulations. Here are some tips for hiring an accountant.

1. Find an Accountant with Experience

Before hiring an accountant, you need to ensure that the accountant has some prior industry experience. If you are unsure about an accountant’s experience, ask them about how long they have been in the industry. CPAs who are new to real estate may have limited experience.

An experienced accountant will help you with the following:

• Tax preparation and filing

• Financial planning and budgeting

• Tax planning, especially with regards to capital gains and losses

• Property purchases, sales, and management

2. Check References

Before you consider hiring accountants, check out their references. Ask for their previous clients' names and contact them for references. If they refer you to someone else, ask them for that person's name. If this is a new client, you can also ask for references from previous clients.

3. Ask for Referrals

If you are looking for a new accountant, ask around for recommendations. You can ask your real estate agent, colleagues, and friends. You can also contact the CPA board in your location.

After an account is referred to you, do your research on them. Check out their LinkedIn page and make sure they are licensed in the state you are located in.

4. Schedule a Phone Interview or Meet Them in Person

If he or she is a potential employee, you can schedule an in-person interview. You can also do this over the phone. In this case, you should ask them questions about their experience and what they can do for you. This will help you determine whether they are a good fit for your company.

5. Check Their Online Reviews

You can also check out their online reviews on Yelp, Glassdoor, and Google. This will help you determine whether these are good people to work with. You will find out how they treat their clients, how long they have been in business and their type of work.

6. Negotiate a Compensation Package

If you hire someone to work for your company, you need to negotiate a salary package. It would be best if you also negotiated other benefits like vacation time and health insurance. To do this, you should ask candidates to go over their pay rate and benefits package with you. This will help you determine whether they are worth hiring or not.

7. Set Expectations

You should also set expectations with candidates. This will help you determine whether they are a good fit for your company or not. For example, if you want them to work on weekends, you should tell them this upfront.

In conclusion, hiring a good real estate accountant is not easy. You will need to do your research and find the right people to help you in your business. You should also make sure that the accountant follows up on the work they are doing for you. This will ensure that they are working as promised and that you are getting the best results.

Contact us at Quick Accounting Solutions to see how we can help with your real estate accounting needs.