Question 1

Reduce your Tax Obligation

Accepted Answer

One of the most important reasons to employ an accountant that specializes in real estate is to reduce tax burdens. Since many real estate investors are already familiar with filing tax returns, a skilled real estate accountant can find tax techniques to reduce or eliminate tax burden.

Question 2

Make the most of your Investments.

Accepted Answer

A real estate accountant understands the nuances of both state and federal tax regulations, as well as how to use them to an investor's advantage. An accountant, for example, may assist an investor in determining whether the financial or accrual form of accounting is more profitable for a corporation, as well as the advantages and disadvantages of adopting straight-line vs accelerated depreciation.

Question 3

Structure your Real Estate Business

Accepted Answer

Many investors buy property as a sole proprietorship since it is the simplest approach. However, something that is simple to perform is not always the ideal thing to do.

A real estate accountant knows the possible tax advantages of holding rental property through a legal structure such as an LLC or S company, allowing an investor to make better informed decisions about how to build a real estate business.

Question 4

Monitor Real Estate Tax Code Changes

Accepted Answer

Even tiny changes from time to time might have a substantial impact on tax liability. A professional real estate accountant will remain current on tax code revisions to assist investors in avoiding paying more tax than required or breaching the law.

Question 5

Business Advice

Accepted Answer

A real estate accountant can see evolving patterns and long-term real estate phases that a business-focused investor may ignore. A real estate accountant can see evolving patterns and long-term real estate trends that a business-focused investor may ignore.

Question 6

Assist in the expansion and growth of a real estate company

Accepted Answer

An accountant is well-versed in the tax implications of purchasing, holding, and selling rental property as an investment portfolio increases. Obtaining unbiased expert advice from a real estate accountant while designing an investment strategy may assist an investor in wealth creation that can be transferred down from generation to generation tax-free.

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