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A CPA for South Florida real estate investors
Real estate offers some of the most valuable tax opportunities, and some of the most complicated rules. We help you use the first and stay clear of the second.
Who we work with
Long-term rental owners, short-term rental hosts, house flippers, developers, and real estate professionals, along with the LLCs and partnerships that hold their properties. Most of our real estate clients have us prepare both their entity returns and their personal return.
Where we help
Depreciation and cost segregation
Depreciation is often the largest deduction a property owner has. We make sure it is calculated correctly from the start, and we help you evaluate whether a cost segregation study makes sense for a particular property. How our cost segregation studies work.
1031 exchanges
Selling and buying again? We review the tax effect of an exchange with you before the sale, work alongside your qualified intermediary, and report the exchange correctly.
Short-term rentals
Short-term rentals are taxed under different rules than long-term rentals, and how much you personally participate matters. We help you understand where your properties fall.
Real estate professional status
Qualifying as a real estate professional can change how rental losses are treated, but the requirements are strict and the IRS reviews them closely. We help you understand whether you qualify and what records to keep.
Entity structuring for property holdings
We work with you and your attorney on how properties are held, so the structure works for taxes as well as for liability protection.
Every situation is different. The topics above are general information, and whether a strategy fits you depends on your specific facts.
Frequently asked questions
What does it mean to qualify as a real estate professional for taxes?
Generally, you must spend more than 750 hours a year in real property businesses in which you materially participate, and more than half of your total working hours must be in those businesses. Qualifying can allow rental losses to offset other income, but the IRS reviews these claims closely, so good time records are essential.
Are short-term rentals taxed differently from long-term rentals?
Often, yes. When the average guest stay is seven days or less, the rental generally isn’t treated as a rental activity under the passive loss rules. If you also materially participate, losses may be able to offset other income. How your property is treated depends on the details, so we review each one.
Should my rental property be in an LLC?
An LLC is mainly about liability protection, which is a legal question for your attorney. For taxes, a single-member LLC is usually ignored and the property is reported on your personal return. We work with your attorney so the structure works for both.
What records should I keep for my rental properties?
Your closing statement, receipts for improvements, records of rental income and expenses, and, if you’re aiming for real estate professional status or material participation, a log of the time you spend on your properties.