Preview Mode Links will not work in preview mode

Feb 26, 2020

Mike Taravella interviews Tom Castelli, CPA  from the Real Estate CPA to discuss tax time, what to look for a CPA group, and the importance of having clean books.

Key Information:

Find a CPA has experience with real estate specialization and have the same value based system

Understand the fee structure because it could be hourly or certain fee structures

Look to engage a new CPA before year-end

Do your bookkeeping throughout the year, not just at the end of the year

As a real estate syndicator make sure you have your K-1s by March 15 so investors can file their taxes by April 15

More sophisticated groups will have K-1s issued by March 15

K-1s are an investor’s portion of the profit/loss and distributions for a particular process

A great CPA will allow you to continue to apply offense in finding new deals, while they are playing defense

You need tax returns from last 2 years before being a General Partnership

Can take deduct W-2 income if you are a “real estate professional”

Always have an audit trail and document your income and expenses

Be proactive with your accountant

Expert Pro Tip: Engage your CPA for tax planning service

Contact Information:

Tax and Legal Summit February 29-March 1, 2020

50% off tickets with “Jake&Gino” 


For more information/to connect with Rand CRE:



To register to invest with us:



Rand CRE's Facebook:

Rand CRE's Linkedin:

Rand CRE's Instagram: