Real Estate Tax
Tax Services for Real Estate Investors
Rental properties create tax questions throughout the ownership cycle—from acquisition and improvements to operations, refinancing and sale. James S. Wang, CPA provides tax preparation and planning for real estate investors who want the details coordinated across properties and returns.
Tax Guidance Across the Property Life Cycle
The work is based on the type of property, ownership structure, use, financing and transaction history. Records are organized so basis, depreciation and suspended losses can be tracked from year to year.
Ownership & Operations
- Rental income and expense reporting
- Placed-in-service dates, basis and depreciation schedules
- Repairs versus capital improvements
- Passive-activity loss and at-risk limitation analysis
- Entity, co-ownership and multistate filing considerations
Transactions & Planning
- Purchase-price and closing-statement analysis
- Refinancing and debt-related tax considerations
- Sale projections, gain characterization and depreciation recapture
- Section 1031 exchange tax coordination with a qualified intermediary
- Installment-sale and reinvestment tax considerations when applicable
Accurate Basis and Depreciation Matter
Many rental-property tax problems begin with incomplete records. Purchase closing costs, later improvements, prior depreciation and ownership changes all affect the gain or loss when a property is sold.
James helps establish and maintain tax schedules that connect current deductions to the eventual disposition. Before a sale, a projection can estimate federal and California tax, depreciation recapture and the use of suspended passive losses. For a potential Section 1031 exchange, tax analysis should occur before closing and be coordinated with a qualified intermediary and legal counsel.
The firm provides tax analysis and compliance services—not real estate brokerage, legal advice, securities recommendations or investment management. Economic and investment decisions remain with the client and the client’s other advisors.
A Good Fit for
- Professionals and business owners with rental properties
- Investors adding properties or changing ownership structures
- Owners with missing or inaccurate depreciation schedules
- Taxpayers preparing for a sale or Section 1031 exchange
- California investors with property or income in multiple states
How We Work
1. Property inventory. We identify each property, ownership entity, acquisition date, use and filing state.
2. Records check. Closing statements, depreciation schedules, improvements, loans and operating records are gathered securely.
3. Tax preparation or projection. Current-year reporting and any planned transaction are analyzed together.
4. Ongoing tracking. Basis, depreciation and carryovers are maintained for future filings and disposition planning.
Plan Before You Buy or Sell
Tell us how many properties you own, where they are located, whether a purchase, sale or exchange is pending, and the deadline involved. We will identify the appropriate tax-preparation or planning scope.