Real Estate Bookkeeping and Tax Services

Real Estate CPA in Richmond, VA

Rental property tax work gets complicated quickly when bookkeeping, financing, repairs, improvements, depreciation, and year-end planning all have to tell the same story. The RVA Accountant helps Richmond real estate investors keep property records organized, plan ahead for tax decisions, and prepare returns with the documentation needed for rental and entity activity.

Schedule a Real Estate Investor Tax Planning Consultation

All CPA Services

Who This Is For

This service is built for first rental owners, portfolio landlords, short-term rental owners, BRRRR investors, LLC and partnership owners, investors preparing for a sale, refinance, or possible 1031 exchange, and owners sorting out inherited rental property records.

It is also a fit when your rental activity has moved beyond simple Schedule E reporting and you need CPA guidance that understands investor records, property-level reporting, and tax planning before filing season.

What the RVA Accountant Handles

Property-By-Property Bookkeeping Review and Cleanup
Rental Income, Deposits, Fees, Repairs, and Improvement Tracking
Closing Statement and Refinance Documentation Review
Estimated Tax Planning for Rental Income or Sale Activity
1031 Exchange Planning Coordination Before Deadlines Begin
Cost Segregation Coordination and Depreciation Review
Inherited Rental Property Basis and Estate-Owned Property Record Review
Real Estate Professional Status and Material Participation Documentation Support
Short-Term Rental Non-Passive Activity Documentation Support
Self-Rental Planning When a Business Rents Property from an Owner or Related Entity

Common Investor Triggers

Investors usually reach out when bookkeeping is spread across bank downloads, spreadsheets, closing statements, and property manager reports. Others need help before a refinance, sale, 1031 exchange, cost segregation study, inherited property reporting decision, or short-term rental tax decision.

The goal is not to make aggressive claims. The goal is to make sure the records, planning assumptions, and tax return treatment line up before decisions become expensive to unwind.

How the Engagement Works

The first step is a review of your entities, properties, prior returns, bookkeeping setup, and upcoming decisions. From there, we identify what needs cleanup, which decisions require planning before year-end, and which records should be maintained for tax preparation.

Depending on the situation, the engagement may include bookkeeping cleanup, planning projections, tax-return preparation, or coordination with your exchange accommodator, cost segregation provider, attorney, lender, or estate/trust tax preparation workflow.

FAQ

Do Real Estate Investors Need a Specialized CPA?

Many investors benefit from a CPA who understands rental bookkeeping, property-level reporting, depreciation, entity returns, sale planning, and investor documentation. The need increases as you add properties, short-term rentals, partnerships, or transaction planning.

Can You Help with 1031 Exchange Planning?

Yes, planning can begin before a sale so you understand the tax records, timing, and coordination points to discuss with your qualified intermediary and legal counsel.

How Should I Track Rehab Costs?

Track rehab costs by property, vendor, date, purpose, and whether the work is more likely a repair or improvement. Keep invoices, settlement statements, and before-and-after context when available.

Do You Work with Short-Term Rental Owners?

Yes. Short-term rental owners often need help with bookkeeping, occupancy-related records, platform income, cleaning and repair costs, and activity documentation.

What Records Do I Need for REPS or STR Material Participation?

Keep contemporaneous time records with dates, activities, hours, and property context. The records should be specific enough to support the work performed without relying on broad year-end estimates.

Can You Help with Inherited Rental Property Records?

Yes, inherited rental property records can be reviewed for basis, income, expenses, repairs, improvements, depreciation history, and tax-return readiness. Legal estate planning and estate administration are outside this page, and estate or trust income tax return preparation should route through the Tax Preparation service.

If your rental activity needs cleaner records or planning before the next filing season, schedule a real estate investor tax planning consultation.

Schedule a Real Estate Investor Tax Planning Consultation

HIRE US

Real Estate Investors seek wealth preservation. As a real estate investor myself, I understand the need for an accountant who stays abreast of recent changes in the tax code. The IRS incentives entrepreneurs to do the things the government can’t do itself and we ensure our clients maximize their returns by capturing all the incentives available at each juncture of their investment process, from purchase, through renovations, until sale. Our goal is to form an ongoing relationship with our clients to witness their journey and to be able to serve a part of their support system when making such important decisions such as selling investment properties. We want to ensure each client is fully aware of the benefits of Section 1031 Exchanges and their descendants being able to take advantage of the step-up basis upon receiving their inheritance, when applicable.