Tax Pro’s Question. I’m a CPA working in audit. I have an interest in tax but don’t want to transfer into tax. I want to learn more about tax and do my own thing on the side of preparing taxes and eventually specialize in real estate taxes. I want to get the full tax foundation prior to nicheing up. Besides, it’d be nice to make a few extra bucks during tax season in the short term. I have the knowledge of REG but still a novice and want to ask advice on being a tax prep and real estate tax pro.

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You learn tax by doing tax. I guess you could get some exposure by doing VITA or finding a sympathetic local CPA who you can work for on weekends at busy season? Local firms often do a lot of real estate and related small biz work (construction and contractors).

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Very insightful. Thank you! So I’m not starting from square 1. I actually did VITA in college, have prepped my own taxes as well as few family members for about 5 years so I have basic knowledge from there which I could leverage.

I’ll make calls but should I start doing that earlier rather than later? Also, is there any trainings or videos you recommend I do before tax season to help me out too?

Confused about what your question is… also it takes years to master tax and even then you aren’t even a master. I think it would be extremely difficult for you to try to do tax on the side and niche into real estate. You might be able to complete returns and get work done but how much of it would be correct?

Right, I’m pretty much asking for help determining the steps to take to move in the direction of having a great knowledge and applicable skill set of real estate tax. To start off, I’d like the take a smaller step of prepping small personal returns but know I’m not ready for that either so I’m asking how to get started in that on the side to get a base knowledge and then how build from there to specialize in real estate.

Take CPE in tax for your CPA credit hours, there’s a lot of good resources. However, getting to a base level in tax would probably take at least a year of working in it and that’s the most basic level.

Keep in mind if you sign or prepare a return you’re immediately open to a lawsuit personally if anything goes wrong and it’ll likely cause you to lose your job.

But hey, I do it as a side hustle too so 🤷🏻‍♂️

Yep, there is if you’re pulling in clients that could go to them or possible liability issues.

But they generally don’t care unless it causes issues with your CPA license or takes you away from work too much.

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