The real estate industry is a volatile industry which faces several challenges and numerous pressures. For today’s competitive real estate business environments, the utilization of a Certified Public Accountant can be quite helpful.
Role of a Certified Public Accountant
When you work with an experienced accountant, they will help you understand the challenges and risks associated with running a successful real estate business. Whether you are trying to maximize profitability or searching for new funding sources, a CPA can provide you with expert guidance taking into account the industry’s regulations and trends. What else can they do for you?
- Outsourced accounting and bookkeeping
- Tax preparation and year-round tax planning
- Cash flow management
- Preparing annual, monthly and quarterly financial statements
- Audit, review and compilation
- Entity structuring
- Transaction structuring and planning
- Budgeting and forecasting
- Passive activity loss planning
- IRS and state audit representation
- Fraud investigations and forensic accounting
Careful financial management is critical to succeed in the real estate industry. With your busy schedule, you may overlook day to day accounting needs. The utilization of a CPA will allow you to focus on running your business and not spend time on your accounting and bookkeeping, cost segregation, 1031 exchanges, and passive activity deductions. All of these can be handled by your accountant. A CPA can help allow your business to continue growing by offering expert real estate-specific guidance. To know more about Gurdak Group, Ltd. industry experience, and expertise, please call us on 847-827-8100.