Managing a commercial real estate or rental property business is much more complex than collecting a check at the end of the month. You may have to address permits, emergency maintenance, and employee matters before you finish your coffee, leaving you little time to strategically reduce your business tax liability or challenge an inflated property tax assessment. That's where real estate tax advisory from 1-800Acccountant, America's leading virtual accounting firm, can help.
Tax advisory provides the year-round tax advice and support your real estate business needs to minimize your tax liabilities while ensuring compliance. They will guide you as you assess and enter new markets and provide financial reporting to understand your real estate portfolio's cash flow, profitability, and economic path.
1. Select a convenient date and time within your schedule to speak to one of our experts.
2. Tell us about your real estate goals and challenges during this 30-minute call, a $199 value.
3. Once fully onboarded, we’ll create a year-round income tax strategy to combat and resolve real estate business challenges and match you with an accountant to address your accounting needs, ensuring a minimal annual tax burden.
There are numerous tax deductions available to real estate professionals. Maintenance and repairs, depreciation, and mortgage interest are just a few examples of deductions rental property owners can take advantage of. Your real estate advisor will analyze your portfolio and identify applicable deductions.
Accountants specializing in this field can better serve the distinct accounting needs of real estate clients, which accounting generalists might miss. These specialists are typically experienced in addressing regional real estate challenges, which is another invaluable advantage over generalists.
Real estate advisors are well-versed in business tax planning strategies that promote cost savings opportunities and avoid overpaying tax obligations. Planning strategies they may implement for your business include claiming all real estate deductions, tax credits, and entity structure analysis.
1-800Accountant's real estate advisors operate in all 50 states and can accommodate your multi-state portfolio. If you have yet to enter new markets, our real estate advisors can guide you to ensure you're prepared from a strategic tax standpoint.
Real estate tax advisors can help prepare materials to report a 1031 exchange on your tax return. They can also ensure you adhere to the strict rules and time limits to qualify for these tax-deferred exchange benefits. Failure to adhere to these rules and limits may trigger a taxable transaction.
*Based on a $12.2k average 2022 tax refund per client, which is 4x the cost of a full-service package. Source: first-party data.
**Includes average business tax preparation, form completion and submission, record keeping, and other misc admin time. Source.
***Historical first-party data.