Accounting For Real Estate

Real estate accounting and financial management is crucial for a successful business. Because there are so many aspects agents may not think about, having an experienced accountant to assist can be an indispensable asset. Every transaction in the real estate industry is a significant deal. Success in real estate business depends on having the skills to interact with customers, complete sales, and utilize the soundest administrative practices.
Therefore, it is exceptionally beneficial to have accountants with extensive industry knowledge. Thus, A+ Tax Experts employ the best accountants for real estate agents who can automate, streamline, and simplify your real estate accounting work.

Highly-Professional Accounting Services For The Real Estate Industry In Philadelphia.

Success in the real estate industry requires effective long-term strategic planning and efficient management of day-to-day operations.

The real estate market in Philadelphia is full of risks and challenges. Realtors and real estate firms operating in the very competitive real estate industry must constantly monitor their finances and manage tax obligations to remain profitable.

If an accounting firm doesn’t have significant experience in the real estate industry, it can provide a very limited amount of value to a real estate agent.

Only a professional and experienced accountants for real estate can address the specific challenges and compliance needs that real estate agents, brokers, developers, and investors have to face.

Practical Accounting Solutions For Real Estate Companies And Agents.

An accountant for real estate companies will find practical solutions to keep operating costs at a minimum and help manage finances more effectively. A qualified and experienced accountant at A+ Tax Experts can assist real estate agents and companies by taking care of all their accounting and bookkeeping needs, developing business plans, and delivering comprehensive financial statements that can be easily understood.

We have helped Philadelphia real estate agents and brokerages to realize their visions and goals by providing the following services:

  • Business accounting,
  • Outsourced bookkeeping for real estate companies, agents, brokerages, and developers.
  • Due diligence,
  • Business forecasting,
  • Cost segregation, Investment, and portfolio analysis,
  • 1031 exchanges,
  • Tax deferral transactions,
  • Passive activity deductions,
  • Regulatory compliance,
  • CFO services,
  • Tax planning, preparation, and filing services,
  • Payroll services,
  • Incorporation and new business advisory, and
  • QuickBooks™ for real estate.

Fully Customizable Real Estate Accounting in Philadelphia

The real estate business offers several opportunities for high-volume transactions. Accountants are instrumental in maintaining an extensive record of all transactions. They keep track of sales, taxes, commissions, and expenditures incurred on marketing, planning, and conducting events such as property fairs and exhibitions. Real estate Accountant provides an almost accurate picture of an agent’s or brokerage’s financial standing.

A+ Tax Experts offers scalable and fully customized bookkeeping services in Philadelphia.

Some of the real estate bookkeeping services we offer include:

  • Documenting receipts,
  • Organizing expenses,
  • Issuing invoices,
  • Collecting payments,
  • Paying bills,
  • Reconciling credit card statements and bank statements,
  • Tracking the amount of time you spend on each project,
  • Tracking PST/GST/HST,
  • Running payroll, and
  • Preparing tax filings.

QuickBooks™ Online is one of the leading bookkeeping software for real estate agents.

It can give a detailed perspective of your return on investment on each property. It tracks bills and can prepare financial statements and tax documents with ease.

Regulatory And Real Estate Tax Compliance

In the past, incorrect and dishonest accounting practices had brought the real estate industry into disrepute. Minor accounting errors can be corrected, but the ones that are done deliberately to mislead can lead to legal prosecution. Therefore, it is of utmost importance to adhere to sound accounting standards.

Real estate agents, brokers, companies, developers, and investors must follow specified accounting standards that are stipulated by the government. These accounting regulations are intended to achieve investor protection, distribute wealth more equally, and contribute to the GDP.

Property taxes are levied on immovable properties such as land, plots, buildings, etc. Efficient accounting can lead to tax savings and tax deductions.

Besides calculating tax liabilities, real estate accountants also prepare tax returns for their clients.

Accountants have played a tremendous role In the Growth Of the Real Estate Industry

The real estate sector has experienced rapid growth over the years. An Accountant in Philadelphia can assist real estate agents and companies in property transactions and complying with state regulations.

Important documents like leases, rental agreements, cost estimates, and annual reports can also be prepared or contributed to by accounting professionals.

Besides keeping the books of agents and brokers up-to-date, our experts in accounting for real estate companies can address common issues that other real estate industry professionals face during the acquisition, development, holding, and selling of property.

Looking For A World-Class Accounting And Taxation Firm In Philadelphia?

The right accounting firm can do much more than just balance your books and handle your taxes, it can protect your business from risk and also help you plan.

A+ Tax Experts offers a full suite of taxation, accounting, and advisory services to a variety of industries including real estate, construction, law, technology, manufacturing, and utilities in Philadelphia. It all begins with good communication and we encourage clients to contact us whenever a concern or question arises.

Accountant Related FAQ

What is Real Estate Accounting?

Real estate businesses have a lot to keep track of, including clients, listings, budgets, and expanding their networks of clients. Thus, real estate accounting includes a multi-step procedure, from selecting a suitable accounting method to generating error-free reports. Having a reliable, qualified accountant can be a great asset when it comes to managing real estate business finances.


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