Real estate investors do not have a bookkeeping problem — they have a tax and reporting problem. Depreciation, passive activity rules, entity structures, cost segregation, 1031 exchanges, and investor reporting all sit on top of the books, and generic accountants miss the moves that actually build wealth. Precision Accounting & Consulting runs a dedicated real estate investor practice that treats your portfolio like the business it is.
What we do: full-cycle accounting and tax strategy for rental owners, syndicators, flippers, and buy-and-hold investors — property-level bookkeeping, entity and K-1 support, depreciation and cost segregation coordination, real estate professional status planning, and clean investor reporting.
Accounting built for how investors actually make money
Cash flow and taxable income are two different numbers, and the gap between them is where real estate is won or lost. We keep books that tie to each property and each entity, then layer on the tax strategy that turns paper depreciation into real, usable deductions. You get financials you can hand to a lender, a partner, or the IRS with confidence.
Services for real estate investors
- Property-level bookkeeping — income, expenses, and capital costs tracked by property and by entity, not lumped together.
- Depreciation and cost segregation coordination — set up asset schedules and work with your cost seg provider to front-load deductions correctly.
- Real estate professional status (REPS) planning — qualify, document hours, and make the aggregation election so losses are usable.
- Entity structure and K-1 support — LLC, partnership, and S-corp bookkeeping, partner capital accounts, and investor K-1s.
- 1031 exchange and basis tracking — keep basis, deferred gain, and depreciation recapture straight across trades.
- Investor and owner reporting — NOI, cash-on-cash, and distribution reporting your partners can actually read.
- Tax preparation and quarterly planning — returns and estimates built around your portfolio’s real numbers.
The problems we solve
Investors come to us saying things like:
- “My depreciation losses are just sitting there — my accountant says they’re ‘passive’ and I can’t use them.”
- “I have six properties in three LLCs and one checking account, and I have no idea which property makes money.”
- “I did a cost segregation study but I’m not sure it was ever booked correctly.”
- “My partners want real reporting and all I can give them is a bank statement.”
- “I’m about to do a 1031 and I don’t know my adjusted basis.”
Why a specialist matters
The most valuable real estate tax strategies — REPS, cost segregation, grouping elections, 1031 basis carryover — only work if the books and the depreciation schedules are set up to support them. A generalist who treats a rental like any other side business leaves those deductions stranded or, worse, claims them in a way that invites an audit. Our practice is built around the specific rules investors live and die by, and we coordinate the accounting with the tax plan so nothing falls through the cracks.
How we work
- Portfolio review — we map your properties, entities, and current books, and find the money being left on the table.
- Cleanup and structure — we get each property and entity onto clean, separated books with proper depreciation schedules.
- Strategy — we build the tax plan: REPS, cost segregation timing, entity moves, and 1031 coordination.
- Ongoing accounting and reporting — monthly books, investor reporting, and quarterly tax planning so there are no surprises in April.
Serving real estate investors nationwide
Based in Melville, New York, our real estate investor practice works with rental owners, syndicators, and buy-and-hold investors across the country. The federal tax strategy that drives real estate — depreciation, passive activity rules, cost segregation, and 1031 exchanges — is national, and so is our work.
Frequently asked questions
Do you work with investors outside New York?
Yes. Our real estate investor accounting and tax strategy work is national. The depreciation, passive-loss, and exchange rules that matter most to investors are federal, and we serve clients across the country from our New York base.
Can you help me use my rental losses against my other income?
Often, yes — through real estate professional status and material participation planning, and by making sure your depreciation is set up correctly. Whether it applies depends on your hours and situation, which we review before making any promises.
Do you coordinate cost segregation studies?
Yes. We work with your cost segregation provider (or help you find one), make sure the study is booked correctly, and time it to a year when the deductions are actually usable.
Can you handle my LLCs and partner K-1s?
Yes. We keep entity-level books, maintain partner capital accounts, and prepare or support the K-1s your investors need.
How do we get started?
Reach out for a portfolio review. We will look at your properties, entities, and current books, and show you where the biggest tax and reporting wins are before you commit to anything.
Talk to a real estate investor accountant
If your portfolio has outgrown a shoebox and a generalist, let’s talk. Learn more about our broader real estate and property management accounting services, or read how investors unlock deductions with real estate professional status — then reach out for a portfolio review.
This page is for general informational purposes only and does not constitute tax, legal, or accounting advice. Consult a qualified professional about your specific situation.