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Archives for May 2017

Camuso CPA Take A Different Approach to Client Service

The CPA firm landscape is rapidly evolving; firms like Camuso CPA serve as a model for how CPA firms can successfully respond to industry change and remain relevant.

Camuso CPA focuses on delivering clients relevant and proactive insights for tax minimization, cash flow improvement, profit improvement and of course, overall compliance. As a response to the shift to CPA’s serving in an advisory role from a compliance role, Camuso CPA is part of a new generation of CPA firms focused on building business relationships not collecting clients.

Before establishing Camuso CPA, I developed a world-class background working at the top Big 4 professional service firm for well over 5 years in two of the country’s most competitive cities, NYC and Charlotte.

I worked specifically within the investment management and real estate space consulting for the world’s premier asset managers, real estate companies and retailers. Working with high-level institutional investors and going on to serve clients with Camuso CPA nationwide has given me insights into what works and what is broken in the traditional client service models for public accounting. Camuso CPA has designed our service offerings to eliminate the biggest issues that we see in the industry.

All too often we see clients make costly errors because the pricing structures and degree of client service provided by CPAs does not provide clients with the platform to get their financial questions answered promptly throughout the year.  Camuso CPA eliminates disincentives and unexpected fees for contacting your dedicated business adviser. We focus on building rapport and trust with our clients through the quality of work that we deliver and with my responsiveness to any of our clients’ concerns or questions.

Camuso CPA has capitalized on this industry change by becoming your trusted partner and an integrated financial component of your business. Camuso CPA’s business model is designed to add value by collaborating with clients on an ongoing basis – not just during tax season.

Our team ensures that we take a holistic and entrepreneurial approach to your business, investments and finances by incorporating the latest strategies, tools and technologies into our services offerings to deliver the greatest financial benefit to all clients.

Because of emerging technologies within the industry, the landscape of public accounting is changing drastically. There are now tax services available to businesses that were previously only affordable for major corporations. For instance, cost segregation services typically only used to be recommended for businesses with a tax basis over $1,000,000, but can now be had for businesses with a tax basis as low as $100,000.

Your personal and business finances are the foundation of your success. Contact Camuso CPA today to build your dedicated financial team:

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Commercial Real Estate Podcast: Real Estate Professional Status

There are significant tax benefits for investors who can qualify with the IRS for real estate professional status. This is a powerful tax planning tool, especially for investors with multiple rental properties, which can create thousands of dollars in tax deductions.

To qualify as a ‘Professional’ for tax purposes, a taxpayer, or their spouse, must meet a two-part test; the taxpayer must spend the majority of his or her time in real property businesses and the taxpayer must spend 750 hours or more in the real property business and rentals in which he or she materially participates.

There are drawbacks to incorporating the real estate professional status into your tax planning strategy which must be considered. Taxpayers who are classified as a real estate professional will have business income treated as ordinary income subject to self-employment tax. Establishing an S-Corporation is generally a necessary measure for an effective tax strategy incorporating the real estate professional status.

If you need real estate tax help in Charlotte, NC, Camuso CPA PLLC can help. We can provide a tax consultant for your real estate company that can potentially save you thousands.

For a detailed discussion on this topic, tune into my conversation with Darrin Gross on the Commercial Real Estate Podcast:

http://commercialrealestatepronetwork.com/podcasts/crepn-90-real-estate-investor-classification-with-patrick-camuso/

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