Real estate accounting can be complex. Proper planning is the key to managing successful transactions and limiting tax consequences.
Real estate is characterized by large material gains and losses. Every transaction has the potential to impact your accounting and tax situation, making budgeting, compliance and tax management as important as knowing how to identify or develop a property.
S.J. Gorowitz Accounting & Tax Services stays up-to-date on the latest industry news and regulations to provide you with sophisticated, useful tax strategies and planning advice. We are experienced with industry-specific transaction and tax compliance, including accounting for multiple properties, tracking passive losses and planning reasonable rental rates.
Our goal is to enable you to conduct real estate transactions with peace of mind that you have the information necessary to minimize or defer tax liabilities. That can include reviewing current and anticipated transactions to maximize allowable depreciation, offset gains and losses, and considering like-kind exchanges.
Many of our clients are business owners who also own the properties their businesses occupy. Having an informed, financially focused advisor can produce tremendous cost savings that might not otherwise be realized. SJG provides sophisticated tax strategies and tailored tax planning for real estate professionals, attorneys, domestic and foreign investors, brokers, and residential and commercial real estate developers.
Real Estate Services
- 1031 Like-Kind exchanges
- Accounting for real estate activities
- Cost segregation studies
- Customized QuickBooks reports
- Entity structure selection for minimizing tax and risk exposure
- Multi-state reporting
- Passive activity rules
- Tax preparation
- Tax planning, projections and tax savings strategies
Real Estate Industry Focus Areas
- Brokerage
- Construction and contractors (rental properties/residential & commercial)
- Development
- Foreign real estate investments
- Investment properties
- Property management
- Real estate partnerships
Maximize transaction value and minimize tax liabilities.