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Our independence and objectivity help deliver the security and confidence you expect. Tax rules on depreciation have grown in complexity as part of the tangible property real estate bookkeeping regulations, the Tax Cuts and Jobs Act of and the CARES Act. Proper documentation is also required to qualify for the real estate professional status tax benefit.
Because real estate investing is a year-round business, having a CPA who is hard to reach after April 15 may not be the best choice. The needs and expectations of every investor are different, so be sure that a CPA’s accessibility and communication style are a good fit. A CPA with a large number of real estate clients may be able to provide more detailed guidance than one who works across a wide array of industries. For example, some CPAs also hold a real estate license for the state that they practice in. Even though they may not be active investors, a CPA who has a real estate license may have a better understanding of the business.
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Our professionals keep their finger on the pulse of the industry and apprise you of issues that may impact your business through our webinars and industry events. We help our clients address the most common issues real estate industry professionals face during acquisition, development, holding and selling property. A CPA is a higher professional designation that requires passing state education and licensing requirements and completing continuing education classes.
For example, a CPA can help an investor determine whether the cash or accrual method of accounting is more advantageous for a business and the pros and cons of using straight-line versus accelerated depreciation. A good real estate CPA can help an investor remain tax-compliant during a 1031 exchange and provide advice on more sophisticated investment strategies, such as real estate investment trusts . My goal is to help you manage and maintain maximum tax benefits by ensuring the delivery of timely and proactive services, planning and consulting strategies. The decision of whether to provide the actual names of real estate investors to third parties must be made on a case-by-case basis, as there is no one-size-fits-all answer. Accountants should be aware of the applicable laws and apply those accordingly. A skilled accountant would likely respond by providing a comprehensive breakdown.
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We operate in all fifty states and, our ability to perform joint venture audit engagements primarily offsite provides significant savings to the owners. We also perform reviews and compilations.Real Estate Investment Fund Audits Audits of real estate investment funds at fair value accounting in accordance with Investment Company guidance. Reduce financial risk and enhance your performance so your business’s real estate portfolio can help improve your competitive position whether you own or lease commercial property. We offer a broad range of audit and accounting services to provide you with quality information to allow you, your stakeholders, your investors, and others to make smart business decisions.
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