Industries · Real Estate
Per-property P&L. Depreciation that captures every deduction. Entity strategy that fits your portfolio. A CPA who treats real estate like the business it is.
Why It Matters
A CPA who solves problems with modern tools. Not your typical CPA firm.
Most real estate investors get bookkeeping that treats their portfolio as one big blob. Total rents in, total expenses out, one number at the bottom. That works for a tax return. It does not work for running the business. You cannot tell which property is actually profitable, which one is the drag, or whether the next acquisition will pencil out.
We work with landlords, buy-and-hold investors, flippers, and short-term rental operators across Indiana. Property-by-property reporting is the baseline. From there, we handle the things that actually move your tax outcome. Depreciation captured fully. Cap-ex versus repair classified correctly. Entity structure aligned to your portfolio. 1031 exchanges recorded so the basis carries forward cleanly.
Modern tools make this work efficient. The CPA judgment is what catches the deductions, the strategy mistakes, and the entity-structure traps that cost investors thousands every year.
Where Real Estate Books Go Wrong
Most landlords cannot tell you whether their worst property loses money. We set up class or location tracking so every property has a real P&L you can act on.
A new roof is not a repair. A water heater replacement is not a repair. Misclassifying these inflates current-year expenses and understates basis, which costs you twice over.
Missed Section 179, missed bonus depreciation, missed component depreciation. We rebuild your depreciation schedule and capture what your prior accountant missed.
Holding properties in the wrong entity (or no entity at all) creates liability exposure and limits tax flexibility. We assess your structure against your actual portfolio and goals.
Short-term rentals can land on Schedule C or Schedule E depending on average stay length and services provided. Misclassifying changes whether passive loss rules apply.
A 1031 exchange defers gain but carries the old basis forward. If that basis is not tracked in your books, you (or your future tax preparer) will overstate gain on the eventual sale.
Services Built for Real Estate
Monthly bookkeeping with per-property P&L, depreciation tracking, cap-ex versus repair discipline, and a portfolio rollup that gives you both views.
More on bookkeeping →Portfolio cash flow, lender packages, acquisition analysis, refinance planning, and the strategic finance work that grows a portfolio without breaking it.
More on outsourced CFO →Entity structure guidance, 1031 exchange coordination, depreciation strategy, real estate professional status documentation. Done before tax season, not during.
More on advisory →Tools We Work With
We help you choose what fits your portfolio size and how you operate.
With class or location tracking configured for per-property reporting. The foundation for almost every real estate engagement.
For active landlords with multiple units. Property management plus accounting in one platform, integrated with your books.
Airbnb, VRBO, and direct booking reconciled into your books with per-property tracking.
RentRedi, DoorLoop, and others. If your platform exports the data, we can work with it.
Common Questions
It depends on your portfolio size, your risk tolerance, the financing involved, and your state of operation. One LLC per property gives the cleanest liability separation but adds cost and complexity. A Series LLC (where the state allows it) splits the difference. For investors with one or two properties, a single LLC or even Schedule E can be the right answer. We help you decide based on your actual situation, not a generic rule of thumb.
Short-term rentals (Airbnb, VRBO, and similar) get different tax treatment than long-term rentals. Average stay length, services provided, and material participation all affect whether income is reported on Schedule E or Schedule C, and whether passive activity loss rules apply. We track each property's classification, set up the bookkeeping appropriately, and flag the year-end implications before they surprise you.
Yes. Per-property P&L is non-negotiable for an investor. We set up QuickBooks Online with class or location tracking so every income and expense entry ties to a specific property. Reports then show each property standalone alongside a clean portfolio total. No more guessing which property is actually making money.
Cost segregation studies typically need a specialized engineering firm to perform the underlying analysis. We coordinate with those firms when it makes sense, then book the results into your depreciation schedule correctly so you actually capture the tax benefit. For smaller properties, we help you decide whether a full study is worth the cost or whether a simpler component breakdown will do.
1031 exchanges defer capital gains when one property is exchanged for another like-kind property. The mechanics matter. Timing rules, qualified intermediary handling, basis tracking on the replacement property. We work alongside your QI to make sure the exchange is documented and recorded properly in your books and in your eventual tax return.
Real estate professional status (REPS) lets you treat rental income as non-passive, which can be a major tax planning advantage. The qualification rules are strict: 750 hours per year in real estate trades and more than half your work time in real estate activities. We help you document the qualification properly so the deduction holds up if questioned.
Book a free 30-minute conversation. We will walk through your portfolio and entity setup and tell you what we would change.