Exemplary Real Estate Tax Services
Initial Planning Phase (Day 1 - 30)
Comprehensive Client Questionnaire:
Our initial questionnaire, meticulously designed, enables
Executive Kick-Off Call:
Engage in a strategic discussion with a CPA to review your current tax & financial standing and articulate future goals, ensuring alignment with your objectives.
Entity Organizational Chart Analysis:
Review or creation of an organizational chart to optimize your entity structure for maximum efficiency and compliance.
Rigorous Tax Return Review:
A detailed examination of your most recent tax return to identify significant errors and unclaimed opportunities, leveraging our Big4 expertise.us to gather essential baseline information about your financial landscape.
ADVISORY SESSIONS
Session 1: Address pressing queries and provide feedback on your accounting system to ensure ongoing accuracy and alignment.
Session 2:Detailed walkthrough of recommended tax strategies and actionable steps.
Strategic Battle Plan Delivery: A bespoke strategy battle plan outlining our accounting and tax strategy recommendations, alongside a comprehensive action plan.
Accounting System Analysis: A thorough review of your current accounting system to ensure precision and identify areas for enhancement, informed by private equity CFO experience.
Holistic Tax & Financial Review: We meticulously examine various aspects of your financial operations to uncover planning opportunities:
Income sources, business activities, and financial statements.
Entity structure review.
Rental portfolio, purchase entries, and depreciation schedules.
Opportunities for cost segregation studies and bonus depreciation.
Sec 469 Material Participation, Real Estate Professional, and Passive Loss Limitation Analysis, including spouse activity analysis.
Maximizing deductions on short-term rentals.
Sec 704 Economic Allocation Analysis.
S-Corp vs. LLC analysis for management or operating companies
Business interest limitations and ADS life analysis.
Application of the Tax Cuts and Jobs Act.
Pass Through Entity Tax (PTET) State Tax Analysis.
199A Analysis.
Application of the CARES Act.
Review of deductions for portfolio and business.
Owner compensation and unreimbursed expenses (S-Corps only).
Setting up an Accountability Plan.
Health insurance/HSA payments and selections.
Basic retirement plan selections.
Strategic payment to family employees and contractors.
Travel, home office, auto expenses, and meals.
Utilization of primary residence for corporate meetings under the Augusta Rule.
Investment strategies to lower AGI or enhance charitable contributions.
Additional bespoke strategies as appropriate.
On-Going Support (Day 30 - 365)
Dedicated Advisory Support: Continuous support, ensuring that we remain your trusted advisor throughout the year. Seamless communication for quick queries via email or comprehensive document reviews.
Scheduled Check-In Calls: Annual or quarterly calls to:
Remain updated on your evolving financial situation.
Address tax-related inquiries.
Offer ongoing tax strategy recommendations.
Ensure the correct implementation of previously recommended strategies.
Personalized Tax Return Compliance: Recognizing the uniqueness of each client's needs, tax return compliance is billed separately. A credit against the estimated compliance cost is included in your plan, covering the basics.
Auto-Renewal: Our agreements renew automatically after day 365 at the established monthly rate.
Sample Ongoing Services Calendar
JANUARY
First quarterly check-in to plan for the upcoming season.
FEBRUARY/MARCH
Receive tax documents for extension estimates or actual returns. Conduct the second quarterly call to review the extension/return.
APRIL
File extensions or returns by the 15th.
MAY/JUNE
Focus on practice development, research, or vacation.
JULY
Mid-year check-in (third quarterly call), start wrapping up extensions.
August-October
Finalize returns awaiting information, conduct fourth quarterly call.
November
Annual year-end planning call.
December
Provide ad-hoc consulting for year-end transactions.
What My Clients Are Saying...
“James has been instrumental in driving our investment structures and initiatives to be the most tax-efficient possible. His experience as a private equity CFO has proved invaluable to us on our routine calls.”
Tyler Lyons, Chief Investment Officer
“Stonehan has worked closely with me over the years to deliver timely custom KPI reports and financial statements that help me get a whole picture of my real estate portfolio and tax position. Over the years James has become a trusted advisor to my family and takes care of our comprehensive tax strategy.”
Ivan Matthew, Real Estate Developer
“After frustrating delays and a lack of professionalism from our prior tax preparer, working with Stonehan Accountancy has given us a great peace of mind to know that our investors are getting their K1s timely done by someone who cares, follows proper tax law, and has Big4 level experience.”
Hunter Thompson, Founder, ASYM Capital
