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Call (866) 681-2140
Call (866) 681-2140
Dimov Tax is the CPA for real estate investors who also keeps the books: real estate accounting and tax, property by property. Books that reconcile, depreciation schedules you can defend on a sale, and returns filed by the people who kept the records. One firm, so the bookkeeper and the preparer are not handing work to each other.
Call (866) 681-2140, 7am to 8pm, seven days a week.
We keep the books per property instead of pooling them across the portfolio
We prepare entity returns, K-1s and owner personal returns together
We track depreciation, disposals, exchanges and recapture as they happen
Real estate CPA services at Dimov Tax mean two jobs from one firm. We keep the books for the properties as your real estate accountant, and we prepare the returns those books feed. You report rental income and expenses on Schedule E for a property you hold directly, or at entity level where you hold it in a partnership or an S corporation.
Split those two jobs across two firms and you find the gap on the depreciation schedule. Your bookkeeper does not know which invoices you had to capitalize, and your preparer does not know what the bank line was. Neither of them looks at the schedule again until you sell.
We tie each property's depreciation schedule to its ledger before we prepare the return
Licensed CPAs and Enrolled Agents on every return
We give you a fixed quote before we start
Support year round rather than in season
We work as the CPA for real estate investors across rentals, syndications, development, brokerage and commercial property.
A handful of long term rentals, held personally, where the work is steady and the sale is years away. The work is Schedule E, depreciation and the questions that come with a refinance or a first sale.
You document average stays, material participation and short term rental depreciation each year. A short term rental CPA checks whether real estate professional status applies to your rentals.
Entity returns, K-1s and owner basis, with owners who each get a different answer on the same property. We keep the entity books on the same ledger that feeds the 1065.
We settle inventory treatment, capitalized interest and whether you hold as a trade or an investment.
A sale, an exchange, a refinance or a purchase already in motion. We model the tax position before the closing date, including 1031 exchange taxation, depreciation recapture and the land and building split on a purchase.
Commission income, an S corporation once the profit is large enough, and the deductions a CPA for real estate agents tracks through the year: mileage, marketing, desk fees and licensing.
Our commercial real estate accounting covers CAM reconciliation, tenant recoveries and lease accounting.
When you code one invoice, you set two numbers at once. A repair comes off this year's rental income. You add an improvement to basis and depreciate it, and you subtract the basis you have not yet written off from the gain when you sell. Code an improvement as a repair and you overstate this year's deduction and understate your basis. Correct the deduction and the basis when you find the error. The IRS draws the line in its tangible property regulations. We apply it invoice by invoice, in the month the work happens.
We run real estate bookkeeping services on this calendar. Flag capital work in the month it happens and it costs you a minute. Reconstruct it in March from a bank line that reads hardware store and it costs you an afternoon, and you end up estimating.
Real estate bookkeeping per property, bank and card reconciliation Rent roll tied to deposits Capital work flagged as it happens
Estimated payments Depreciation schedule reviewed against actual work done Entity and owner basis kept current
Entity return and K-1s Owner personal returns Disposals, exchanges and the recapture position
As the accountant for real estate investors, we fix these problems when we take over a portfolio:
Where a wrong depreciation method appears on two filed returns, we correct it with a Form 3115 method change. We amend returns where the IRS allows that route.
From a rent roll, last year's return and the depreciation schedule, we tell you what shape the records are in. Confidential, and handled by a CPA or Enrolled Agent, not a call center.
A CPA specializing in real estate quotes on the portfolio and the state of the books. What we price against:
The light end is a landlord with two properties, books in QuickBooks and one state. We price a year with a sale or an exchange separately. These are the factors, not a quote.
I had a fairly complicated situation with property sale and moving between states. The team was quick, answered all questions, was responsive, courteous and professional.
Send the rent roll, the entity list and last year's return. We will tell you what the records are missing and what it costs to put right before anything starts. Or call (866) 681-2140, 7am to 8pm, seven days a week.
General information, not advice for your circumstances. Outcomes depend on your own facts, so speak to a CPA before you act on it.
