Real Estate
Why You Need an Accounting Firm Experienced With Real Estate
It’s always a great idea to surround yourself with experienced professionals, and one business where this is readily apparent is real estate. They help in the following ways:
- They structure your investments. Through trend analysis, property tax forecasting, and cash flow predictions, accountants deliver the financial information you need to make wise investment decisions and manage dozens of rental properties.
- They can protect your investments from sudden market changes. Accountants can help you coordinate property appraisals, capitalization activities, and asset evaluation, so you are always one step ahead.
- They keep your financial information at your fingertips. Investments are tricky to value and record, and a property owner with no background in accounting runs the risk of inaccuracies and misreporting that can derail any operation.
- They keep you ahead of regulations. Accounting standards for real estate companies are never static. A professional accountant can interpret new regulations, property tax laws, and occupancy requirements and explain how they impact your business.
As an investor or property manager, you know that there are a lot of moving parts to real estate accounting, financial reporting, and auditing – including a myriad of transactions and state regulations. Rubino is here to help.
The right accountant with a mix of experience and industry knowledge can save you money and time. Rubino has worked with real estate property owners for decades. Accounting in real estate companies shouldn’t be a mystery; we can be your trusted resource.
Trust in Rubino. We help clients achieve their goals and grow by taking the time to understand their needs and by providing the experience and expertise of a large firm with the service of a small firm. Learn more about our staff or find out more about us and what drives us to be a complete CPA firm.
We are focused on helping people succeed. Whether it be the people who work for Rubino, our clients, or the community, everything we do is focused on solving challenges and being a catalyst for success. Our services are tailored to help people manage finances effectively and responsibly:
We Bring Clarity To Confusing Real Estate Accounting
Our Experience with Real Estate Companies Leads the Way
Rubino has extensive experience in auditing multi-family housing properties owned by both for-profit and nonprofit organizations. We also have experience in performing audits in accordance with the Government Auditing Standards issued by the Comptroller General of the United States, the Consolidated Audit Guide for Audits of HUD Programs issued by the U.S. Department of Housing and Urban Development, the requirements of Virginia Housing Development Authority (VHDA), and various state agency audit guides.
Our firm currently audits an excess of 125 real estate entities owned by for-profit and nonprofit organizations. We are familiar with auditing projects receiving an allocation of Low-Income Housing Tax Credits (LIHTC) under Section 42 of the Internal Revenue Code.
The Rubino team has experience serving agencies that have multiple tax credit projects and we are familiar with the structures of these entities and understand the issues that arise for all parties involved. Our team is adept at navigating affordable housing tax credit issues, ranging from bond and conventional financing to HUD compliance and reporting.
In addition to our typical financial statement audit clients, those that have tax credit projects that require additional reporting, we also serve other entities only for cost certifications. Members of our team have performed a significant number of LIHTC Cost Certifications both as part of larger audits and as stand-alone engagements. These engagements have included not only LIHTC Cost Certifications, but also other mixed finance reporting as required by state housing agencies and banks.
What is a 1031 Exchange?
This is a procedure that allows the owner of an investment property to avoid paying capital gains taxes when it is sold and allows them to reinvest the proceeds from the sale within certain time limits in a property of a like/kind value. Investors utilize 1031 exchanges when they are seeking a property with better return, want to consolidate several properties into one, or to divide a single property into several assets.
A Unified Mission
At Rubino, our clients always come first. We are unified in our mission to have a positive effect on our clients, our company, and the community.
