Since my wife and I are looking to get into IP, I need to identity a good accountant. Our logical first thought is to use our existing accountant, whom we have used for close to 10 years for our personal income taxes.
But preparing a basic tax return is not the same as having in depth knowledge about property investment and its tax implications.
Apart from obvious "interview-style" questions that I should ask him like "do you invest in residential property", "how many" blah blah blah, what are some more "technically challenging" questions I can ask to give them a mental workout and see where his answers sit?
Preferably questions of the nature that an accountant with good IP knowledge will be able to answer immediately, and someone who has limited experience will have to "hit the books".
But preparing a basic tax return is not the same as having in depth knowledge about property investment and its tax implications.
Apart from obvious "interview-style" questions that I should ask him like "do you invest in residential property", "how many" blah blah blah, what are some more "technically challenging" questions I can ask to give them a mental workout and see where his answers sit?
Preferably questions of the nature that an accountant with good IP knowledge will be able to answer immediately, and someone who has limited experience will have to "hit the books".