Make the Most of Your Next Real Estate Investment
The real estate industry moves quickly. Whether you’re developing a new property or purchasing an existing one, it’s critical to keep the wheels in motion. To give you a competitive edge, we offer tax and accounting services tailored to construction and real estate industries. Let us help you make the most of your next investment.
What Are the JAK Real Estate Development Tax and Accounting Services?
We help property investors, building owners, and commercial and residential real estate developers build a profitable business that can withstand economic storms. In every engagement, our goal is to help you manage resources, improve cash flow, minimize taxes, and maximize returns. We can also guide you through complying with the ever-changing tax legislation and executing a business strategy, and advise you on all stages of your investment activity.
Our specialized real estate tax and accounting services are designed to help you overcome the following challenges:
- Accounting methods (revenue recognition)
- Entity structure
- Cash flow analysis
- Cost segregation
- Depreciation methods
- Asset costing
- Qualified business income (QBI) optimization (I.R.C. Section 199A)
- Qualified Opportunity Zone analysis (I.R.C. Section 1400Z)
- Like-kind exchanges (I.R.C. Section 1031)
- Involuntary Conversions (I.R.C. Section 1033)
- Projections and pro-forma forecasts
- Internal control reviews
- Rate of return analysis
- Common area maintenance (CAM) analysis
- Fixed asset analysis
- Buy-sell agreements
- Profit and loss analysis
- Business succession planning
- Retirement planning
- Purchase price allocations
- Tax preparation
- Tax planning
Why Do You Need Real Estate Development Tax and Accounting Services?
The real estate industry is constantly in flux and also highly nuanced. A tax advisor who is an expert in your industry can help you proactively manage the financial side of your business and be ready for what’s next. Here are a few of the ways in which our real estate tax and accounting CPAs can make a difference for you.
- Advising you through each stage of real estate development
There are three stages of real estate development: predevelopment, development, and post development. Naturally, each stage brings about its own financial considerations.
During the predevelopment stage, you must plan the timing of your acquisition or development. Then you must determine what steps to take when securing financing. In the throes of development, keeping a proper timeline and job-cost schedule while maximizing cash flow is critical. At post-development, it’s important to be as profitable as possible—and to have the ability to trace your profits back to their sources. To help you achieve financial success during each stage, we offer solutions that minimize risk, reduce costs, and give you the ability to ride economic shifts.
- Helping you establish a business advisory team
Having the support of experienced financial and legal professionals lets you make informed decisions—and make them quickly. We work with several insurance agents, attorneys, and bankers, and can help you build a team of professionals to best fit your needs.
- Planning your exit strategy
If “what’s next” is your retirement or the sale of your business, JAK can guide you through the process. We can help with everything from business succession planning to setting goals for your retirement.
- Supporting you with real estate tax planning services
In light of the recent tax reform, it’s important to make sure you’re taking advantage of all applicable deductions and credits, which could include the particularly tax-advantageous 199A deduction. Your JAK real estate accountant can evaluate the facts and circumstances of your situation to determine which deductions could apply to you.
Who Are Our Clients?
We work with real estate property investors, building owners, commercial and residential land and building developers.
The JAK Difference
JAK is a CPA firm that focuses on industries that complement one another, such as the construction and real estate industries. This allows us to be proactive to upcoming marketplace shifts. Our CPAs and consultants are active in professional associations such as Associated Builders and Contractors (Minnesota / North Dakota Chapter), Associated General Contractors of Minnesota, Association of Women Contractors, Construction Financial Management Association, Minnesota Builder’s Exchange, Minnesota Commercial Real Estate Women, Minnesota Subcontractors Association, Minnesota Surety Association, and Minnesota Utility Contractors Association. In addition, our team includes an in-house Certified Construction Industry Financial Professional (CCIFP).
Get the support you need for your next property investment from a consistent, experienced real estate accounting firm. Our CPAs understand the importance of responsiveness and consistency in the face of deadlines, as well as the joy of watching a project go from plans to final product.
By Jason Loven, CPA, CCIFP® Managing cash flow is never a piece of cake. Now, in the midst of a global pandemic, it’s become even more challenging for businesses within nearly every industry. For m...
By Ethan Cummings, CPA Even the most well-planned project can become chaotic. When this happens, it can feel like you’re getting pulled in a thousand different directions. One minute you’re answer...
Could Transitioning to an ESOP Jeopardize Your Company’s Status as a Disadvantaged Business Enterprise (DBE) or Other Preferred-Status Certifications?
By Amy Crouzer, CPA Preferred-status certifications, such as a minority-owned or women-owned business designations, are designed to increase economic opportunities for historically disadvantaged group...
Case Study: How a Construction Subcontractor Improved Profitability by Simply Bridging a Knowledge Gap
By Andy Knutson, CPA In 2017, we worked with a construction subcontractor that had struggled with profitability in recent years despite many project successes. The company’s bonding agent, who was c...
A job schedule—also known as work-in-progress or WIP schedule—is a subsidiary ledger that tracks actual costs and billings per project. Ideally, your job schedule should be updated and reconciled ...