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Property Management Taxation

Property Management Taxation

Our firm has extensive experience in the residential real estate markets. Services include management of any and all accounting tasks related to property management, such as property taxes, maintenance of escrow accounts, AP/AR, capital improvements budgeting, line of credit analysis, repairs and maintenance, annual financial statements, and working with the board of directors.

As an audit firm, we also perform audits, reviews, and compilations where required. Contact us using the webform below for assistance on any of these topics. 

Specifically with taxation as it relates to property management firms, the following issues are brought forth by clients:

  • Do I have to issue a 1099-MISC to the landlord?
  • Do I have to issue a 1099-MISC to the contractors, super, cleaning personnel, and other parties? 
  • Do I report the full amount of rent on my tax return? 
  • What are some deductions my property management company qualifies for?
  • Where are commissions reported on my return? These include agency fees, fees for Airbnb/VRBO, etc?
  • Where do I report sales taxes, occupancy fees, etc?
  • Am I responsible for quarterly taxes?

We are happy to answer any of these questions and/or file your return. Please feel free to contact us using the webform below and we will revert within hours. 

Commercial real estate

We provide the full scope of accounting services required for private equity funds, hedge funds, and individuals that have invested in commercial real estate. This includes office, warehouse, retail, industrial, etc. 

Capital gains from home sale

We provide assistance with both planning as well as filing taxes for rental property sales & transfers, personal residence transactions, 1031 exchanges, etc. Contact us below for support on these items. 

Taxation of domestic & international rental properties

Many of our clients own a portfolio of rental properties. We are happy to explain how you can use depreciation to minimize or eliminate taxable income. We will also help you understand how passive unallowed activity losses accumulating on IRS from 8582 can create a windfall tax deduction in future years. 

Need help with Property Management Taxation?

Call us today at (866) 656-8036, email us at hello@dimovtax.com, or fill out the form and we’ll get in touch immediately.

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Dimov Tax is rated 5 stars on all major review platforms including Google, Yelp, Facebook, Angie’s List, Better Business Bureau, TaxBuzz, Thumbtack, Upwork, Bark, and much more.