Industries · Real Estate
Per-property P&L. Clean depreciation schedules and basis tracking. 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 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 keep the records that matter most at year-end clean. Depreciation tracked fully. Cap-ex versus repair classified correctly. Per-entity books that stay clean as the portfolio grows. 1031 exchanges recorded so the basis carries forward cleanly.
Modern tools make this work efficient. The CPA judgment is what catches the misclassifications and record-keeping gaps 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 bonus depreciation, missed component depreciation, assets never added to the schedule. We rebuild your depreciation schedule so your tax preparer can capture what was missed.
Holding properties in the wrong entity (or no entity at all) creates real exposure. That decision belongs with your attorney and tax preparer, and we keep clean per-entity books that support whatever structure you choose.
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 →Depreciation schedules, basis tracking, 1031 documentation, and time records for real estate professional status, organized and handed to your tax preparer before tax season, not during.
More on how we work →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 can be the right answer. The decision itself belongs with your attorney and tax preparer, and we are glad to join that conversation. Our job is making sure the books support whatever you choose, with clean per-entity records and reporting that keeps every property visible.
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 set up the bookkeeping to match each property's classification, keep short-term and long-term activity cleanly separated, and flag the year-end implications for your tax preparer before they surprise anyone.
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 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 nothing is lost when your tax preparer files. Whether a full study is worth the cost for a smaller property is a call to make with your tax preparer, and we make sure the numbers are there to make it.
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 qualified intermediary and your tax preparer to make sure the exchange is documented and recorded properly in your books, with the basis tracked so the eventual sale is reported right.
Real estate professional status (REPS) changes how rental income is treated, and the qualification rules are strict: 750 hours per year in real estate trades and more than half your work time in real estate activities. Whether to claim it is a decision for you and your tax preparer. Where we help is documentation: time records and books that hold up if the qualification is ever questioned.
Book a free 30-minute conversation. We will walk through your portfolio and your books and tell you what we would change.