taxes for rental properties and real estate professionals

We offer expert accounting and bookkeeping services using QuickBooks to keep your real estate financial records accurate and current. Our NYC / NJ accountants utilize the latest software and technology to manage all your bookkeeping requirements. 

We handle your Schedule E Tax Preparation and confirm that all rental and real estate income is reported correctly, identifying every legitimate tax deduction you can claim—mortgage interest, insurance, property taxes, maintenance, and management fees. 

Depreciation and amortization are major tax advantages for rental property owners and real estate professionals, but the calculations can be complicated. We take care of all depreciation schedules and make sure you get the maximum benefit every year.  

If your rental property reports a loss, you might be able to apply that loss to offset other income—but there are clear rules about who is eligible. We guide you in understanding the constraints and maximizing any losses you can claim. 

Airbnb and similar short-term rental sites have different tax regulations compared to regular rental properties. We manage the specific reporting needs and assist you in understanding how short-term rental earnings impact your total tax situation 

Selling rental property may lead to large capital gains taxes and depreciation recapture. We assist you in understanding your tax obligations and strategizing the timing to reduce your tax burden. 1031 Exchange Assistance: If you're thinking about a 1031 exchange to postpone taxes when swapping properties, we can clarify the regulations and work with your qualified intermediary to guarantee compliance.