Accounting Services for Real Estate and Construction Firms
Because no two real estate transactions are alike, companies in the process of moving, expanding, or otherwise transitioning need meaningful real estate accounting input and tax preparation. Novak | Costello has a dedicated real estate practice that helps our clients make choices to maximize their tax benefits and aid in their growth and development.
Our dedicated real estate practice works with property owners and managers, major commercial developers, landholders, construction entities, and other real estate partnerships throughout the Chicagoland area and beyond. Novak | Costello provides tax preparation, assurance and consulting expertise to help clients manage risk, minimize overhead, capitalize on best practices, and complete complex real estate transactions in a way that maximizes operating income and asset values.
An overview of our extensive real estate services and expertise reaches into:
- Real estate accounting and assurance services: Financial statement preparation and analysis, business risk evaluation, compliance monitoring for management policies and procedures, common area reports, mergers and acquisitions, development consulting and pro-forma analysis, and due diligence services.
- Advisory services: Transaction structuring for complex real estate deals, mergers and acquisitions, business risk evaluation, tax deferral strategies, lease analysis, estate planning, and wealth transfer.
- Tax services: Tax planning and compliance for real estate entities, accounting for like-kind exchanges, transaction structuring for complex real estate deals, tax deferral strategies, and long-range tax planning for real estate developers.
Novak | Costello immerses itself in the way our real estate clients operate and do business. Our clients rely on our business advisors to know the trends, challenges, and legislation affecting the real estate industry. Understanding what our clients want to accomplish financially and acting as partners committed to mapping out their future success are key to what drives us and creates the firm’s long-term relationships.