Real Estate Accounting, Audit & Tax Advisory Services
KRD provides a wide array of audit, tax and advisory services to owners of real estate. Our team of accounting 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 accounting 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
- 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
Real Estate Outsourced Accounting & Bookkeeping Services
KRD understands all successful real estate ventures require a strong financial foundation. This includes an accounting and business advisory firm that has a solid understanding of the real estate industry. Our firm has worked with a wide array of clients in the real estate sector, minimizing risk and maximizing profits; we stay abreast of accounting and audit standards; and the ever-changing tax law changes.
Our real estate outsourced accounting & business advisory services are designed to improve productivity, increase profits and reduce operating costs.
Choosing KRD for your accounting & bookkeeping needs will allow you to:
- Focus on your core competencies
- Avoid time lost in staffing and training
- Avoid tax filing penalties
Our accounting expertise includes:
- Financial statement preparation
- Cash flow modeling
- Investor reporting
- Accounting software expertise
- Monthly, Quarterly and Annual reporting
Real Estate Accounting Software Expertise
KRD is well versed in the following real estate accounting software.
Yardi accounting software was designed to support real estate investment management and property management. Contact us if you need help preparing the financial reports you need on a monthly, quarterly or annual basis.
AppFolio is mobile property management software for residential, commercial, student housing and community associations.
With 20 QuickBooks ProAdvisors on staff, we’ll help customize your QuickBooks so it provides data that makes sense for your business.
Call us at 847-240-1040 or fill out our online contact form to learn more.