All Forum Posts by: Richard Boyd

@Samuel Descas

If you are trying to learn about real estate finance I would recommend corporate accounting. In my opinion you will learn more about deal making, deal structuring, FP&A. There is more that goes into owning a real estate company than taxes and bookkeeping. 

@Rob Thompson Sounds great. I will shoot you a DM. 

@Colby Burt send me a PM and I will shoot you my contact info. 

@Dave Foster great post. I will PM you...

Hey @Jennifer Mattek it is kinda hard to answer all of your questions without knowing the details of the property and deal. However, here is some info to help you... most common capital gains deferral method would be to do a 1031 exchange. 

However, there are rules to doing a 1031 exchange. Including it must be considered a "like kind exchange" and that you must identify replacement property within 45 days, and you must close on that property within 180 days.

As long as the exchange is done properly it can be deducted on your 2022 taxes even if the deal closes in 2023. If the exchange is not equal (not like kind exchange) or if there is cash being exchanged it can screw up the deal... and mess up your taxes.

If you are looking to get out of active land lords you could try doing a 1031 exchange into a 1031 exchange crowd fund. There are lots of options but here is a website that I found that explains how it works: https://www.1031crowdfunding.c... (I can't endorse this company since I haven't used them)

If you have any more questions shoot me a PM. I run a accounting/CFO company and would be happy to talk more. 

Hello All, 

I am looking for a guest contributor for my blog. I run a accounting and CFO company that specializes in real estate and construction. If there are any bloggers out there that would like to be featured on my website or vice versa let me know. 

@Rob Thompson Would you be interested in being/hosting guest contributors?

Yes my company does work with clients to file their taxes.

Hey All, 

One of my real estate clients was in a similar boat as you. His tax accountant recently retired abruptly and he needed someone to do his 2021 taxes before the extension deadline. I was able to guide him through his real estate accounting and gather the info he needed to complete his tax return and save as much as possible. 

Some of the things he asked me was if I was familiar with real estate accounting, how I could optimize his tax return to save him the most money, how much I charge per return...  

If you are interested in talking shoot me a DM. I would be happy to chat. 

Most of the time that is true. However, I work for a client that set up a remote desktop and dedicated computer for his QuickBooks Desktop. That way he can have his multiple accountants log into the remote desktop and work from the same QB desktop. Total cost is a few hundred dollars.

There are other ways to collaborate with other users in QB Desktop. That is just the way he chooses to do it. If you want to talk more shoot me a DM and I would be happy to chat.