Real Estate Accounting Services

KRD provides a wide array of audit, tax and advisory services to owners of real estate. Our team of professionals has a depth of expertise working with diverse clients to address their accounting, tax and financial statement needs.

The members of our Real Estate Services team have broad hands-on experience in the following areas:

  • Multifamily residential apartment buildings 20 – 1,000+ units
  • HUD and IHDA subsidized housing programs
  • Government occupied facilities
  • Commercial, industrial and retail buildings (Regional malls, shopping centers, self-storage facilities, office buildings, medical buildings, nursing homes, etc.)
  • Condominium conversions
  • For profit and non-profit housing cooperatives
  • Home owner and condominium associations
  • New market tax credits

Our team members also worked with a wide range of owners in these ventures:

  • Individual investors
  • Institutional investors
  • Owner occupied investors
  • Real estate developers
  • Government trusts
  • Joint venture partners
  • Land developers
  • Home builders

Our services in the real estate area include:

Tax Return Compliance and Planning

  • Comprehensive tax return preparation and advisory services to a full range of real estate entities and property types
  • Real estate tax credit analysis and Form 1099 reporting requirements
  • Section 754 basis step-up calculations
  • Assistance with IRS or state examination audits
  • Partnering on cost segregation study services to maximize depreciation deductions
  • Like-kind exchanges
  • Acquisition due diligence
  • Priority capital allocations

Attest Services

  • Audits, reviews, and compilations of financial statements in accordance with GAAP or another comprehensive basis of accounting
  • Technical accounting assistance with implementing accounting standards
  • Consultation on internal control over financial reporting
  • Audits of common area maintenance expenses on behalf of lessors and lessees
  • Compliance assistance with HUD and IHDA filing requirements

Accounting, Consulting and Back Office Services

  • Back office work developing trial balance information which includes balance sheets, income statements and statements of cash flows;  in addition, reconciling bank and other statements as needed for family offices of real estate owners and investors
  • Banking, bill paying, check writing and payroll services
  • Common area maintenance calculations and tenant billings
  • Developer transition analysis
  • Rent escalation analysis
  • Guidance for insurance requirements