The real estate industry faces several unique tax and accounting challenges, whether from uncertainty over classifying expenses or difficulties in taking full advantage of often-complex tax regulations.
Trying to work through these challenges alone when you don’t have the expertise can be a huge burden, not only taking you away from the work you enjoy doing, but also leading to less-than-profitable decisions, poor deals, and even IRS trouble.
Don’t go it alone.
We understand the unique needs of real estate professionals and we diligently keep track of every change in tax law and accounting best practice.
Choose us and we’ll put together a customized service package that meets the unique requirements of your firm, helping you to run a more profitable, more efficient business now, and in the future.
Reconciling your business checking account each month allows us to keep your books, accounting, and taxes up-to-date—it’s a vital step towards understanding how your business is performing.
Having us reconcile your account each month allows you to...
- Identify lost, fraudulent, or forged checks, lost deposits and unauthorized wire transactions
- Detect and prevent excess or unjustified bank charges.
- Ensure transactions are posted correctly by your bank.
- Detect and prevent embezzlement within your company.
- Manage your cash more effectively
- and sleep easy! Knowing your bank accounts are reconciled means one less thing on your mind to keep you up at night.
An income statement—also known as a profit and loss statement—is essentially an itemized list that subtracts your expenses from your revenues to determine profit or loss over a given period.
An income statement allows you to...
Calculate the operating performance of your business.
Determine which areas of your business are over- or under-budget.
Identify specific items that are leading to unexpected or excessive expenditure.
Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
Determine your income tax liability.
A balance sheet is a snapshot of your business' financial health at a given moment in time, helping you to:
Quickly get a handle on the financial health of your business.
Identify and analyze trends, particularly in the areas of receivables and payables. For example, if your receivables cycle is lengthening, you may need to follow-up with your clients more diligently.
Determine if your business is in a position to expand.
Calculate how your business is handling the regular ebb and flow of revenues and expenses.
Understand whether you need to take steps to bolster cash reserves
Recognize if your business has been slowing down payables to forestall a possible cash shortage.
Generate financial reports for potential lenders such as banks or other investors who are considering how much credit to grant you.
Maintaining a Clean General Ledger
The general ledger is the core of your company's financial records, constituting the central "books" of your system. Since every transaction flows through the general ledger, a mistake here will create further issues elsewhere.
Having us review your general ledger each month allows us to hunt down any discrepancies—like double billings or unrecorded payments—that may be lurking there.
Central to our approach to customer service is our belief that we should always be there for you when you need us. That’s why we offer unlimited consultations to all of our customers. Whether you’re looking for advice on how to make the most of the information we give you, or simply have something on your mind—we’re here to help, at no extra cost.
If you'd like a free consultation regarding our Small Business Accounting Service, please complete this form.