Any NJ CPA recommendation for entity formation?

Discussion in 'Taxes and Accounting' started by x1050us, Jan 11, 2021.

  1. x1050us


    I am trying to find out what kind of entity to form and in which state. I believe some of the deductions (home office etc) cannot be made if incorporated out side the state of residency.

    I am looking for an CPA that specializes in this area from NJ.

    Thanks in advance.
  2. Cabin111


    Talk to people who are smarter than you, who you trust. If you ask ten people and the same name pops up 3-4 times they are probably good. Not cheap, but good. If they are a good CPA, they should be interviewing you as much as you interviewing them. They want to see if they really want to take you on. Are you a headache, do you pay your bills, do you push the tax code limit to cause audits...
  3. Sig


    Green Trader Tax is expert in this. The tax benefit from forming an entity is so small that it's almost always going to be overwhelmed by the cost and time to set up and maintain it. So I'd highly advise having them do pro forma calculations on what your benefits would have been last year if you'd done this versus not.

    Also as an FYI, CPAs generally don't set up entities or advise on that, it's an attorney function (although you can also do it yourself with some work). They just advise you on the tax consequences.