If your accountant isn't a Certified Public Accountant, think twice about where you are getting your advice. If your accountant isn't a CPA, it's time to seek professional help. There are several tax reasons for this. The income may also be sheltered through the use of depreciation. Another reason to put real estate into a personal name or grantor trust vs. corporate name, is capital gains.
Many accountants view their goal as minimizing their clients' taxes.
I like to see my clients pay more taxes - because their earnings and profits are increasing dramatically. I can make a major difference in achieving those profits. No one is required to pay more in taxes than the law demands. If you pay too much, you have less resources to meet your other financial goals. We can help find tax deductions and credits, and help you plan so your taxes will be as low as possible, year after year.