The majority of real estate investors we meet either own investment properties in their own name or own several properties within one entity. In order to maximize asset protection, maximize tax savings, and minimize audit risk, we work with these investors to setup multiple entities, including a separate entity to act as a managment company in certain situations.
Some other nuances in the real estate profession that require special accounting and tax treatment include tax treatment of rental properties, depreciation analysis, flipping houses, escrow account analysis, Cost Segregation Studies, properly accounting for security deposits, properly allocating a portion of your purchase price to land value, and reviewing closing statements to maximize tax deductions. Here at Michels & Hanley, we are intimately familiar with these elements and are equipped to help your real estate investment activities reduce their annual tax bills.
Contact us today to find out how we can help you and your investments.
Michael Hanley, CPA
Brian Michels, CPA