Real Estate Accounting, Audit & Tax Advisory Services
KRD provides a wide array of audit, tax and advisory services to owners of commercial and residential 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
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
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
- Bookkeeping
- Monthly, Quarterly and Annual reporting
Call us at 847-240-1040 or fill out our online contact form to learn more.