New York City Real Estate Accounting Services
212 Tax and Accounting Services has extensive experience working with companies in the real estate industry in the Manhattan and New York City area. We understand that real estate isn’t a homogenous activity; the risks and keys to success for builders and developers are different from those for agents and brokers, which are in turn different from those for a property manager.Manhattan Real Estate Accountant
Comprehensive Financial Management
Working with real estate agents and brokers, property investors, landlords and other related professions, we have built real estate accounting services around the unique set of compliance, financial operations, and cash flow issues these businesses face.
Our real estate financial management services include:
- Bookkeeping – Our bookkeeping assistance helps our clients to gather and to organize the information they need to make better decisions and to satisfy partners and clients. Whether making sure that costs are allocated to the right projects and spending codes for builders and developers, or are charged against the right properties and accounts for property managers, we help our clients accurately keep track of their income and spending.
- Accounting – While accumulating transaction data is a critical step, that data doesn’t aid in decision-making until it’s been summarized and reported. Our accounting services turn that data into actionable information, such as cash flow statements, income statements, revenue and expense summaries, and balance sheets.
- Business Planning and Financial Management – From the sound accounting framework we help develop, we work with our clients to analyze and interpret business drivers as well as performance and the financial condition of their venture. We help take the financial information from our clients’ accounting systems and make data-driven decisions that support their goals.
Real Estate Tax Compliance and Planning
At 212 Tax & Accounting Services, our reputation for quality service is founded on preparing timely and accurate tax returns for our clients, as well as advising them on the decisions that can make their operations more tax efficient.
- Federal, State, and Local Tax Compliance Services – We work with builders, developers, agents, and brokers whose income can fluctuate from quarter-to-quarter to create accurate estimates of tax liabilities so they can pay on-time and avoid interest and penalties. Efficient tax return preparation is particularly important in partnership business entities when partners need K-1’s to have their returns filed on time.
- Tax Planning – Almost any major financial decision has a tax implication, particularly when dollar amounts are as large as they are in real estate. Working collaboratively and proactively, we help clients understand the tax implications of those decisions and determine the best tax strategies to achieve business goals. We have assisted real estate clients through cost segregation studies for major projects, managing limits on passive losses, and by evaluating available federal, state, and local tax incentives.
Contact us today to discuss how 212 Tax & Accounting Services of Manhattan can help you establish the business and financial infrastructure foundation from which your real estate business can achieve its goals.