The Real Estate CPA

Randy Woodruff with Suncoast CPA Group

Here at Suncoast CPA Group, We’ve helped clients over the years with their taxes relating to real estate. Whether they’ve had residential, commercial, industrial, investment property ( including warehouses), townhouses, condos, or vacant land, they’ve subdivided land or more extensive development tracts. All these different types of real estate classes we’ve helped our clients with over the years as they come in seeking our advice on getting their tax returns filed to minimize their tax liability. So definitely see us here at Suncoast CPA Group, and we want to help you.

There are many benefits to working with a CPA who understands real estate and works in real estate.

So, the benefits vary based on the kind of real estate you will purchase.

A CPA can help you run a cash flow analysis to ensure that the rental income you will receive on the property will cover all the expenses. The property cash flow, so you’re not coming out of pocket every month to maintain the property.

A CPA can also help you make sure that you structure your real estate venture properly, meaning you have the proper entity selection for what you’re looking to accomplish to minimize your tax consequences. Also, maximize your asset protection in case something happens on the property that the liability would exceed any insurance limitations. The CPA can be sure that you wind up with the correct entity you’re going to select so you can minimize your tax consequences and maximize asset protection. So no accidents on the property spill over to your personal life.

structure your real estate venture properly

We can help you out with financing

We can help you out with financing. And so that way, if you’re going to the bank for financing, we can help you structure the loan. We can make sure that you look at different loans out there, different loan options, and evaluate the one that’s best for you, both short-term and long-term.

different opportunities when you get ready to sell

Also, we can look at different opportunities when you get ready to sell the property. When you sell the property, you may be interested in deferring your gain by doing what they call a 1031 exchange or a tax-free exchange. So any gain you’re going to make on this property when you sell it two, three, five, ten, 15, or 20 years down the road, you may want to, instead of paying tax on the gain when you sell it, defer the gain further into the future. We can help you out with all of those decisions.

Taxation is a Significant Factor

When you’re involved in real estate transactions, there are many other benefits to working with a CPA. For one, your CPA can help you out with taxation. Quite often, taxation is a significant factor when you’re buying it, especially when you’re selling real estate is what’s going to be your tax consequence. We can help you figure out what that’s going to be. We can offer some potential solutions to that. One of those is a 1031 or a tax-free exchange, a prevalent option for most people who want to exit a piece of real estate and get into something different but don’t want to pay the tax.

We can also help you out with cash flow analysis

We can also help you out with cash flow analysis. Often, people looking to buy a piece of real estate have to go to a bank for financing. One of the things that the bank wants to see is, is the property going to cash flow? We can help you run that cash flow analysis to ensure that if you don’t buy a property, you will not be able to cash flow. And even if you buy one that doesn’t flow, at least you know what that negative cash flow will be.

We’ve had clients over the years that sometimes we’ll buy a piece of property knowing it doesn’t cash flow in the beginning, but knowing that there’s going to be an opportunity in the future, that it will promptly cash flow in the future.

Our firm has been involved in helping clients analyze, plan, and execute their transactions.

So all these different things we can help you out with, and we have experience doing these here at the office. Over the years, we’ve helped out many clients with real estate, whether residential rentals, commercial rentals, industrial rentals, buying raw land, developing land, looking into apartments and condominiums, and all different types of real estate assets classes. Our firm has been involved in helping clients analyze, plan, and execute their transactions.

Access to the Suncoast Team

In addition to working with me here at Suncoast CPA Group, you also have access to the Suncoast Team. The Suncoast Team is a group of highly experienced real estate professionals that can assist you with any phase of your real estate transactions, both commercial and residential. Please click on the link below or give us a call at Suncoast CPA Group to schedule your first appointment. Thank you.