Tax Preparation

Tax preparation is complex, especially for real estate investors who are growing and scaling their portfolio. Choose the right tax partner for you and your business.

What Is Tax Preparation?

Tax preparation is the process of gathering, organizing, and reviewing tax documents/information and financial records to accurately complete and file individual and business income tax returns in compliance with current tax laws. Tax preparation is typically done by tax preparation specialists, such as CPAs (Certified Public Accountants) and EAs (Enrolled Agents). 

Real estate investors benefit from working with a specialized tax preparer due to the complexities of their business income and expenses. Real estate acquisitions, exits, income, losses, and the different rules surrounding real estate investments can all pose increased difficulties when preparing taxes. A dedicated tax professional who understands the tax code as it relates to real estate is the best solution for tax preparation and compliance, ensuring efficient and accurate tax filing.

Common Challenges Real Estate Investors Face Without a Qualified Tax Preparer

Real estate investors can face several challenges when preparing their taxes, even if they’re working with a professional. These include:

• Lack of real estate knowledge: When a CPA doesn’t fully understand the world of real estate investing, they may also lack the knowledge to ask you the right questions or file a correct tax return. Working with a tax professional dedicated to real estate investors gives you tailored perspective and guidance.
• Lack of experience: A CPA without adequate experience in real estate may not be able to successfully defend a position taken on your tax return in the event of an audit. A specialized CPA gives you the confidence to file with a built-in defense team, should you get audited.
• Messy records: Having disorganized or inefficient bookkeeping and record keeping systems leads to issues and tax shortfalls, such as discrepancies with lenders and missing out on tax deductions. Ineffective processes can also lead to investors misunderstanding their yearly cash flow, meaning data used for operating and management decisions can be unreliable and planning for tax obligations can be unpredictable.

Aiola CPA Tax Preparation Solutions

While tax prep challenges can cause headaches and stress at tax time, there are solutions. Here’s what we can do for you:

• In-depth knowledge of the real estate tax laws 
• Confidence in our filing to help defend you in an audit if needed
• Open and transparent communication
• Thoroughness in our preparation and review processes
• Streamlined system to guide you through the tax prep process

About Aiola CPA

With high quality standards, efficient systems and processes, and a dedication to clear communication, Aiola CPA believes in a client-first business model. Our staff is committed to continuing education, quality service, and integrity so you can feel confident that your taxes are prepared by someone who knows you and knows your business. Saving real estate investors money on their taxes is our goal, but ensuring our clients feel supported is our duty. Contact us today to learn more about our tax preparation services.