Real Estate Accounting Services
Remaining profitable through economic shifts is easier when you partner with a Baltimore, MD accounting firm that understands real estate accounting and tax services. At Thomas J. Palm, PA our financial strategies for property managers, architects, structural engineers, and other real estate businesses are a result of years of experience working closely with clients in your industry. We know how to help you minimize risk and remain profitable through economic shifts.
We firmly believe in learning about the daily operations of your business in order to provide the real estate accounting services that will best meet your needs. We can take over routine bookkeeping functions including payroll or assist with industry specific services like cost segregation and 1031 exchanges. Whatever services you request, we’ll be sure to keep you informed through regular financial statements you can use to control costs and monitor cash flow. We’ll also implement tax planning techniques designed to reduce your tax liability and avoid any types of transactions that could attract an IRS audit. We offer:
- Acquisition due diligence
- Cost segregation analysis
- 1031 exchanges
- Tax deferral transactions
- Passive activity deductions
Besides improving cash flow, we can prepare financial statements, create a practical budget and handle your month-end closings.
We offer year-round tax planning to minimize taxes for all kinds of construction businesses. We can also calculate and submit your payroll tax filings.
The business structure you choose has a significant effect on your tax liability. We’ll help you select the entity that will keep taxes low while ensuring you’re in compliance with all tax regulations.
Get 24/7 access to you financial data so you can make important business decisions from virtually anywhere.
We can take care of the initial setup of your QuickBooks software and provide ongoing support and training as needed.