Real Estate

Do you own a couple of residential rental properties or do you own and operate multiple commercial rental properties?  Maybe you’ve recently purchased a building for your business.  We’ve worked with a wide range of clients who own real estate.

Real estate is typically depreciated over a long period of time. But in recent years, tax laws have provided opportunities to accelerate depreciation. KLP will work to ensure that you are taking advantage of these opportunities. This might involve a detailed job cost system if you manage construction yourself, or detailed communication with your construction manager if construction is outsourced. In any event, it’s all about planning and understanding the type of information to accumulate. We can help you understand the key issues and implement a system that leverages this knowledge to your benefit.

• What does your lender expect from you? Maybe they want reviewed financial statements? Check out accounting services.

Beyond depreciation, there are other tax planning issues to consider.

• What is the best entity in which to own your real estate?
• How do ownership issues impact income tax?
• Are you or should you be a real estate professional?
• How does the real estate you own impact your estate?

KLP can help you work through the complexities of real estate.

Contact us today to request more information on any of these industries. One of our dedicated accountants is available and committed to helping you with your real estate needs.