One of our specialties is real estate accounting. We work with commercial and residential development companies, architectural firms, property managers, and investment partnerships.
We have done the accounting for real estate development costs for both residential and commercial developments. Our residential clients have ranged in size from housing tracts of over 500 units to projects as small as one spec house. Our real estate investment accounting services have also extended to large commercial developers.
We consult regarding 1031 exchanges for single and multiple sales. We are skilled at the tax planning issues that face those involved in real estate projects. We understand entity selection, multiple partner contractual arrangements, and asset protection issues.
Cost segregation continues to be one of the largest tax incentives for wealth preservation. A cost segregation study is a federal income tax tool that increases your near-term cash flow, in the form of a deferral, by utilizing shorter recovery periods to accelerate the return on capital from your investment in property. There are few investments that the United States Federal government allows investors to expense dollar for dollar. Real estate is that exception. You can deduct 100% of the purchase price against taxable income., allowing for a 50% return on investment at a 50% federal and state tax bracket.
Cost segregation enables the investor to mitigate tax liabilities and preserve wealth by accelerating these deductions much quicker. Ask O&S how we can help you with this.
Read some compelling Cost Segregation Studies on different property types at Engineered Tax Services.
Our clients include general contractors and specialty subcontractors involved in public and private, commercial, residential and institutional construction projects with national and regional firms. We can also assist the many firms associated with the larger construction projects from electrical to mechanical, plumbing, and sustainable building systems engineers necessary to bring a project to completion.
We prepare, compile, review, and audit financial statements, for use by bonding companies and financial partners, all with an eye for encouraging those that need accounting for real estate investments. We use percentage of completion and completed contracts revenue recognition methods.
We establish accurate job costing and systematic allocation of indirect costs.
With our trained CPAs, our goal is to ensure you are using the most current real estate development costs and tax treatment guidelines that represent the project expenses accurately through the many stages of real estate development projects today.
By combining our robust data analysis software, and our human-side expertise in all things pertaining to real estate accounting, we evaluate your business operations, your business plan, and your tax strategy to improve profitability. We provide bookkeeping and payroll assistance for many of our construction clients.
DEVELOPERS & INVESTORS
Where would real estate projects be without developers and investors? They may never see the light of day!
For over 25 years, our firm has been active in this important part of the real estate industry by educating developers and investors in the best practices for accounting for real estate developers and accounting for real estate investments.
The need for sound business advice starts with a professional assessment, which requires an accurate accounting for real estate acquisition, development and construction costs. How much money could be made (or not lost) with a better valuation of pre-development costs? The question addresses the future of the real estate industry, and many sectors in this unsettling and disruptive marketplace, for that matter.
“The real estate (RE) industry seems to be on an accelerating disruption curve highlighted by rapid changes in tenant dynamics, customer demographic shifts, and ever- increasing needs for better and faster data access to allow improved service and amenities.” ~ Deloitte Commercial Real Estate Outlook 2018.
From the visionaries who conceive real estate projects of any size all the way to the bookkeeper who enters small transactions into the developer, builder, or contractor’s bookkeeping software, Onisko & Scholz gets you the support you deserve.