Real Estate

The real estate market is among the fastest growing markets, this is a profession that provides great tax advantages and offers great opportunities to build wealth. We offer high level services for real estate professionals such as agents, brokers, and property management companies, our services vary from the traditional tax and accounting to services such as 1031 exchange reporting and passive activity deductions. Owning real estate comes with many tax advantages, and some of the tax related situation that our professionals can help you with are:

Depreciation: refers to an accounting method used to allocate the cost of a tangible or physical asset over its useful life. Depreciation represents how much of an asset's value has been used, which can be used to offset taxable income and lower your tax bill.
Section 1031 (Like-Kind) Exchange: IRC Section 1031 provides an exception and allows you to postpone paying tax on the gain if you reinvest the proceeds in similar property as part of a qualifying like-kind exchange. This will allow you to use the profits of the sale and reinvest in another property.
Live-In House Flips: One of the best ways to build wealth in real estate is the Live-In House Flip (aka Live-In Flip), which means living in a house, improving it, and reselling it later for a large, tax-free profit. This particular section lets you sell your residence and pay no tax on gains (i.e. profits) up to $500,000 for a couple ($250,000 for an individual). You have to own and live in the residence for at least 2 out of the last 5 years to qualify.

Being in a fast growing profession, it is crucial to have professional on your side to help you manage your accounting and tax needs. We work closely with our clients and provide personal attention that will help you minimize your tax liabilities legally.

We provide attentive and personal services that will serve your financial needs.