Why You Should Hire a Real Estate Accountant

Hiring a real estate accountant can help you create winning financial strategies to help your firm succeed. With in-depth knowledge of both taxes and real estate regulations, they can help you navigate the often confusing world of real estate transactions. This article will cover:

  • What is a real estate accountant?
  • 5 reasons to hire a real estate accountant
  • How to choose a real estate accountant
  • Tips for finding the best real estate accountant

Call SRG Advisors to speak with a real estate accountant today!

CALL: 201-525-1222 x 5

What is a real estate accountant?

A real estate accountant specializes in crafting financial strategies and preparing reports for real estate developers and property owners. Duties of a real estate accountant include tax preparation, consulting, strategy, and budgeting, as well as preparing annual reports. Real estate accountants are often the go-betweens for lawyers, advisors, and banks, and help with all referrals and day-to-day questions.

5 reasons to hire a real estate accountant

Why should you hire a real estate accountant? Here are five reasons:

  1. A real estate accountant can help you optimize your investments.
    Real estate accountants know the ins and outs of both taxes and real estate operations. They’ll be able to help you plan and budget your next transaction, as well as prepare your financial reports. Need help figuring out items like your cash-basis income statement or operational costs? Your real estate accountant has you covered.
  2. They stay up-to-date with the latest tax updates and real estate codes.
    Real estate accountants stay current and informed with the most recent updates in tax changes as related to real estate so you don’t have to. You won’t have to worry about running afoul of any tax or real estate financial regulations – your accountant will handle it.
  3. A real estate accountant can help you make objective business decisions.
    By performing duties such as asset evaluations and budget analysis, your real estate accountant can help you make sound, objective business decisions that are rooted in facts and figures.
  4. They can help you grow your real estate business.
    If your business deals with developing and/or acquiring property, you’ll want to have a real estate accountant to provide their extensive knowledge of investment analysis, development expenses, and real estate trends. They will also be able to assist on a micro-level, handling tasks like lease abstracts and property sales reports.
  5. Real estate accountants can save you money.
    Take advantage of tax-saving strategies year-round, not just when you need to file your returns. Working with a real estate accountant can allow you to discover new tax-saving opportunities and make strategic business decisions by considering the tax implications ahead of time.

How to choose a real estate accountant

When deciding on a real estate accountant, consider the following:

  • Their certifications and licenses: You want to ensure that they’re a certified public accountant with experience in real estate property and tax preparation/strategy
  • Ask about the specific tax areas they specialize in: If they’ve never worked in real estate before, look elsewhere.

Tips for finding the best real estate accountant

Looking for the best real estate accountant? Consider the following:

  • Do they have other accreditations besides being a CPA? It’s important to find someone who continues to learn and pursue new areas of knowledge, not someone who stopped advancing as soon as they passed the CPA exam.
  • How are their referrals and online reviews? Ask around; make sure that their referrals and online reviews are positive.
  • How long have they been in business? You want someone with extensive experience in tax and real estate. Try to find someone who has seen market fluctuations and different business scenarios. They’ll be able to guide you from experience.

Contact the SRG Advisors real estate accountant division!

SRG Advisors provides real estate accounting services throughout the continental US, including but not limited to the areas below.

Connecticut
Bridgeport • Fairfield • Hartford • New Haven • Norwalk • Stamford • Waterbury

Delaware
Dover • Wilmington

Florida
Fort Lauderdale • Jacksonville • Miami • Orlando • Tampa • West Palm Beach

Georgia
Atlanta • Augusta • Columbus • Savannah

Maryland
Baltimore • Frederick • Gaithersburg • Rockville

Massachusetts
Boston • Lowell • Springfield • Worcester

New Hampshire
Concord • Manchester • Nashua

New Jersey
Edison • Elizabeth • Jersey City • Lakewood • Newark • Paterson • Trenton

Bergen County
Allendale • Alpine • Bergenfield • Bogota • Carlstadt • Cliffside Park • Closter • Cresskill • Demarest • Dumont • East Rutherford • Edgewater • Elmwood Park • Emerson • Englewood • Englewood Cliffs • Fair Lawn • Fairview • Fort Lee • Franklin Lakes • Garfield • Glen Rock • Hackensack • Harrington Park • Hasbrouck Heights • Haworth • Hillsdale • Ho Ho Kus • Leonia • Little Ferry • Lodi • Lyndhurst • Mahwah • Maywood • Midland Park • Montvale • Moonachie • New Milford • North Arlington • Northvale • Norwood • Oakland • Old Tappan • Oradell • Palisades Park • Paramus • Park Ridge • Ramsey • Ridgefield • Ridgefield Park • Ridgewood • River Edge • River Vale • Rochelle Park • Rockleigh • Rutherford • Saddle Brook • Saddle River • South Hackensack • Teaneck • Tenafly • Teterboro • Upper Saddle River • Waldwick • Wallington • Washington Township • Westwood • Wood-Ridge • Woodcliff Lake • Wyckoff • Park Ridge

Hudson County
Bayonne • East Newark • Guttenberg • Harrison • Hoboken • Jersey • Kearny • North Bergen • Secaucus • Union City • Weehawken • West New York

Passaic County
Bloomingdale • Clifton • Haledon • Hawthorne • Little Falls • North Haledon • Passaic County • Passaic • Paterson • Pompton Lakes • Prospect Park • Ringwood • Totowa • Wanaque • Wayne • West Milford • Woodland Park

New York
Albany • Babylon • Brookhaven • Buffalo • Hempstead • Huntington • Islip • Manhattan • New York City • North Hempstead • Oyster Bay • Ramapo • Rochester • Staten Island • Syracuse • Yonkers

North Carolina
Asheville • Cary • Charlotte • Durham • Fayetteville • Greensboro • Raleigh • Wilmington • Winston-Salem

Ohio
Akron • Cincinnati • Cleveland • Columbus • Dayton • Toledo

Virginia
Alexandria • Arlington • Chesapeake • Hampton • Lynchburg • Newport News • Norfolk • Richmond • Roanoke • Virginia Beach

West Virginia
Charleston • Huntington • Morgantown