How do you maximize the value of your real estate investment?
The answer is simple. Maximize income while minimizing expenses and inefficiencies thereby maximizing the performance of your investment. While the answer might be simple, putting the plan into motion sometimes is not. At our office we have staff that are both CPAs and licensed real estate professionals. We understand real estate investment and can help you implement your investment strategies.
A typical building owner might have a management company collect rents and prepare monthly statements, a contractor who manages improvements, a bookkeeper who prepares financials each month and another CPA who does the taxes at year end. We think this is terribly inefficient.
While accurate books and records and proper tax planning are important, we recognize that this is only half the battle. You can do everything right from an accounting and tax perspective, but it won't matter if the building is mismanaged. This is why we've affiliated with a local property management company. This setup allows us to have the full picture of your investment all the way from overseeing the plumber straight through to the year end tax return.
Real estate investors have unique accounting and tax needs.. Because so much of a real estate investment depends on the tax benefits associated it, it is very important to have a good CPA on your side. We understand these needs because we are real estate investors ourselves.
Often times real estate investment comprises only a portion of an individual or business' overall income. We take a look at the big picture and make recommendations based upon your overall tax situation. Whether it's a tax free exchange, passive activity losses or depreciation questions, we're your resource for real estate tax questions.
You can get a CPA who can keep your accounting records and do your tax return at year end, but will your CPA visit your building and make recommendations to maximize your net profits? Maybe the cost of a capital improvement will pay for itself over the next three years through increased rents while providing tax benefits. Are you getting these kind of ideas and advice from your CPA? Call us for a free consultation and evaluation of your real estate investment situation.