About William Timlen, CPA

William Timlen, CPA, is a tax partner with over two decades of experience within the advisory space. Over the course of William’s career, he has served in a variety of capacities, specializing in tax aspects of partnerships and passive loss regulations. In his current role, William Timlen assists clients by analyzing tax ramifications for borrowers as they relate to debt, restructuring, distressed real estate transfers, bankruptcy, foreclosures, and deeds in lieu. William is also responsible for duties such as providing comprehensive tax planning advisory strategies for real estate owners, developers, and high net worth individuals.

Previously, William Timlen, CPA served as a tax consultant and financial planner for large real estate institutions and ran an accounting firm for a decade to provide high-level financial services solutions to entrepreneurs within various industry verticals. Notably, Mr. Timlen grew his personal practice from zero to over $4M in just 5 years.

William Timlen has built a reputation within his field for his extensive knowledge of best practicies within accounting and tax, keen eye for detail, and ability to devise comprehensive solutions that empower individuals, families, and institutions to reach their financial goals. Those who have worked with William speak to his person-first approach to business and willingness to teach strategies for others to utilize as leverage for improving the outlook of their financial futures.

William Timlen, CPA Explores Qualities of Top Real Estate Tax Professionals

As a professional who specializes in tax advisory for real estate clients, William Timlen acknowledges that there are always a lot of moving parts within the industry. Naturally, real estate organizations want to ensure that they are choosing the right professionals for their needs, but some end up unsure of how exactly to evaluate an individual or firm in order to make the best choice possible.

Here, William Timlen, CPA explores a few qualities of top real estate tax professionals for prospective clients looking to take the next step.

Wealth of Experience Within the Industry

One of the most important qualities to look for when choosing a real estate tax professional is expertise and experience within the industry. Real estate entities need accountants who are intimately aware of all of the subtleties of the field, as they are key to providing advisory services that take all potential outcomes and client needs into account. For best results, choose a professional who is experienced and specializes in real estate rather than dabbles in it. William Timlen speaks to how it can be helpful to inquire what percentage of their clients are involved in real estate to shed some light on how involved and up-to-date they are with best practices, shifting policies, etc.

Understanding of Rules and Regulations

To William, one of the most interesting aspects of the real estate field is its constant state of flux, as rules and regulations are always evolving and updating. The best real estate tax professionals will have a clear understanding of regulations and tax changes in order to leverage such knowledge toward providing advisory services that completely take your needs into account. This includes all of the necessary tax components of real estate partnerships, as being able to effectively review economic agreements of partnerships, determine the correct profit and loss allocations as well as distributions, etc. are crucial to the job.

Availability to Discuss Comprehensive Strategies

The ability to be available and maintain strong communication channels is essential for any real estate tax professional who wants to remain successful within their space. Real estate clients need strategists who are committed to developing comprehensive plans, not just plugging in numbers and autopiloting their advisory services. With finances, compliance, and a lot of other factors on the line, you want your professional to be both available and responsive. Should anything happen or change, you should be able to meet with them to discuss and formulate a plan for how to maximize savings and properly leverage breaks and benefits relevant to your organization. Not only will the best real estate tax professionals be available and responsive, but they will also be effective communicators that make their clients feel at ease throughout each process. You want an accountant who can answer questions effectively and makes you feel comfortable asking them.

In Tune with Your Goals

Many real estate organizations share similar goals, such as facilitating growth and utilizing strategies to save money while maximizing their existing fund’s impact. Still, each institution may have individualized goals that are specific to their organization and its specific realities. For this reason, William Timlen, CPA, recommends aligning with professionals who are already in tune with and committed to your overall goals. The most effective advisors will be profoundly interested in helping develop strategies that keep the ball rolling and will always take your thoughts and feelings into account throughout the process. In a constant shifting and evolving landscape, trusted professionals working in your best interest are invaluable.

Interested in More from William Timlen, CPA?

William Timlen understands that the world of taxes, especially as they relate to the real estate industry and its processes, can be daunting to those who do not have formal education or experience within the space. To this end, Mr. Timlen speaks to the importance of sharing high-level resources that demystify best practices, policies, industry updates, and more to contribute to a more accessible and inclusive landscape.

Future content inspired by William Timlen’s insights aims to contribute to conversations within his areas of expertise to readers’ benefit.  A few types of categories readers can expect through WilliamTimlenCPA.com include:

• Tax Resources
• Real Estate Information
• Professional Insights
• Financial Services Industry News

Would you like to learn more about real estate tax planning and associated topics from the perspective of a professional with years of experience within the field? Be sure to check out WilliamTimlenCPA.com for more informative content based on Mr. Timlen’s insights.