There’s no one-size-fits-all approach when defining success in real estate. It’s true and every company has to deal with a unique set of market forces and individual circumstances that impact the overall financial performance. At Smith & Smith CPAs, our CPAs dedicate the time to know you and your company’s goal. We can provide solutions to proactively manage your bookkeeping responsibilities, financial projections and compilations so that you can focus on running your business effectively. Our CPAs regularly advise clients on tac implications of various decisions to enable educated decision making..
We believe in taking a hands-on approach with every client so that they are equipped with the practical advice and knowledge in the ever-changing dynamics of the market. Our CPAs at Smith & Smith can advise you on the financial aspects of your business and reduce the risk of tax liabilities.
We are dedicated in helping you achieve your targets by tailoring our responsibilities to your preferences. It is important to us that all your necessities are met with the professionalism you expect and assist you as you build your successful business.
Services for Real Estate include:
Tax Planning and Compliance
State and Local
Choice of Entity
Federal and State Tax Credits Programs
Financial & Advisory
Reviews and Compilations of Financial Statements
Internal Control Assessments
Sales and Use Tax-Related Consulting
General Ledger Facilitation
Accounting System Sourcing and Set-up
Accounting Management and Financial Analysis
Accounts Payable/Receivable and Bill Pay
Payroll Preparation and Tax Reporting
Financial Statement Analysis and Preparation
We also offer advisory services, including:
Cost Segregation Studies
Energy Incentives Consulting
Research & Experimentation (R&E) Tax Credits
Mergers and Acquisitions
Lease Agreement Verifications
Historic Preservation Tax Credits
Cash Flow Forecasting/ROI Analysis
Fraud and Forensic Accounting
Business Continuation, Succession Planning and Exit Strategies
The Dreaded Letter from the IRS.
A client received a letter from the IRS regarding his prior year tax return. Unfortunately, he was being audited. The IRS believed that expenses for his LLC were overstated and disallowed certain deductions. In addition, the IRS stated that the client owed thousands of dollars in penalties alone. We met with this client and went over all of the relevant documents. We were able to guide him through the process and provide him peace of mind. Upon review of transcripts and various documents, we met with an IRS agent on behalf of our client. This ...
An owner of an auto shop came to Smith & Smith CPAs, LLC with a letter from the IRS.
This letter stated that an audit would be taking place. Having never been through an IRS audit, the owner needed help to prepare. We advised him on the process and shared our past experiences. When the audit came, we were there with him every step of the way.
An Oil & Gas company needed guidance on how to handle their growth.
They started as a sole proprietorship and were in search of a CPA firm that could advise them on how to handle the growth of their company. After searching for a firm, they decided to meet with Smith & Smith CPAs, LLC. In our initial meeting, we learned of their business and inquired about their goals. We decided that it was best for them to incorporate.
A group of doctors were looking for a CPA firm to help them form their new practice.
A group of doctors had been working for various practices and decided to form their own medical entity. They were sure that they could succeed given their experience and knowledge in their field of medicine. Needing a CPA firm to advise them on various tax decisions, they decided to seek the services of Smith & Smith CPAs, LLC.
A cardiologist received a letter from the IRS for delinquent payroll taxes that had already been paid.
The cardiologist was sure that the payroll taxes had been paid however, he needed help to prove this was the case. Our CPAs reviewed the tax payments and reconciled them to the various tax liabilities. Upon completion, it was determined that the aforementioned taxes were indeed paid. The issue was that they were applied incorrectly.
Playing chess is all about making the right moves and thinking up smart strategies to win the game fair and square. The same applies to your taxes thanks to the preferential treatment granted by the IRS. Taking advantage of this golden opportunity allows you as an investor to save your hard earned money from a storm of taxes. The following strategies will help you achieve that goal using legal loopholes or exceptions: Making Wise Investments Nowadays, it is possible to invest in a number of companies, stocks and even real estate properties. Going down the real estate road is an…