As a realtor, you must keep track of your business finances all year. However, where do you begin tracking your numbers? QuickBooks for real
Growth-Orientated Accounting for Real Estate Agencies and Entrepreneurs
A business can spend a lot of time searching for the right real estate accountants. Accounting for real estate has many unique facets that make it challenging to locate a CPA firm that has the expertise to help. The accountant or team of accountants (depending on the size of your business) must be able to handle the tax planning and filing for real estate, accounts reconciliation, invoicing, payroll and dozens of other particulars that so many full-time real estate professionals need.
Here at Fusion CPA, we take your financial planning to the next level. Our services may start with tax deduction advice for real estate and then branch out to support the company’s financial well-being on many levels over the long term. For the last ten years, we have helped out-of-the-box thinkers to realize their visions of accumulating capital, nurturing client relationships, and building solid communities.
Stay Agile with Professional Accounting in Real Estate
In addition to routine accounting for real estate agents, we take on all the specialized functions of a real estate firm like 1031 exchanges, payroll processing, and cost segregation. Of course, each real estate company has its specialties, which means the accountant should be ready to focus on minute details of how your firm operates within its niche, locality, and market segment.
What to expect from a reputable accounting firm
- Standard payroll processing tasks for small or medium-sized concerns
- Full bookkeeping services on an outsourced basis
- Due diligence for any acquisitions
- Analysis of cost segregation issues for real estate companies
- Finding and reporting deductions for passive activity
- Keeping track of all 1031 exchanges according to date, size of the transaction, and other aspects of this category
- Identifying the most flexible and advantageous entity type
- Working hand in hand with your investment groups and other advisors (lawyers, bankers, etc)
- Calculating project and ongoing development costing and profitability
- Forecasting profits
- Monitoring revenue and collection patterns
- Assist with equity and profit and loss allocation strategies
- Work to establish financial reporting best practices
- Risk management (insurance strategies)
- Project management and accounting software solutions
- Identify tax strategies for Opportunity Zone Funds