Real estate bookkeeping services for investors, landlords and agents
Owning rentals or selling real estate brings a steady flow of small transactions: rent from several tenants, security deposits, repair bills, property taxes, insurance, mortgage statements and management fees. Our real estate bookkeeping services keep all of that recorded by property, so you know how each one performs and your tax return can be prepared without a weekend of sorting receipts.
We work with landlords, investors and agents in New Jersey and New York, and with owners elsewhere online. One dedicated specialist keeps your books in QuickBooks Online and prepares your year-end returns from the same records.
What our real estate bookkeeping includes
Rental property bookkeeping by property
Every month we record rent and expenses for each property, reconcile your bank, credit card and loan accounts, and send a profit and loss by property. Security deposits are tracked separately: under IRS Publication 527, a deposit you plan to return to the tenant is not income when you receive it, but an amount you keep because the tenant broke the lease is. This is our monthly bookkeeping set up for rentals.
Repairs vs. improvements
A repair keeps a property in working condition and is usually deducted in the year you pay it. An improvement adds value, extends the property’s life or adapts it to a new use, and is depreciated instead. Residential rental buildings are depreciated over 27.5 years. We record the two separately and keep a fixed asset list, so depreciation is not rebuilt from scratch every April.
From the books to Schedule E
Individual owners generally report rental income and expenses on Schedule E (Form 1040). We organize your accounts to match it: rents received, advertising, cleaning and maintenance, insurance, mortgage interest, repairs, taxes, utilities, depreciation and so on. At year-end we prepare your individual tax return, federal and New Jersey, from those totals. Properties held in a multi-member LLC or a corporation file their own business tax return, which we also prepare.
1099s for contractors and vendors
Plumbers, painters, cleaners and handymen are a normal part of owning rentals. When your rentals are run as a business, payments to unincorporated contractors are generally reported on Form 1099-NEC. For payments made in 2026, the threshold is $2,000 per payee for the year. We collect W-9s during the year and prepare your 1099 forms in January.
Bookkeeping for real estate agents
Agents and brokers paid on commission are usually self-employed. We track commission income and business expenses, help you estimate quarterly payments, and prepare your return. Our self-employment tax calculator gives a quick estimate, and tax planning looks at options such as an S corporation election when income grows.
LLCs and structure
Many investors hold property in an LLC. A single-member LLC is usually disregarded for federal income tax, so its rentals still go on the owner’s Schedule E, while a multi-member LLC normally files a partnership return. Which structure fits you is a legal question as well as a tax one, and we don’t give legal advice. What we do is explain the tax side, form a New Jersey LLC when you have decided, and keep separate books for each entity.
What you get each month
Each month you receive a profit and loss by property, and a balance sheet showing loan balances and security deposits held. When you refinance, buy another property or bring in a partner, the numbers are already organized. At year-end, the totals per property, the fixed asset list and the 1099s are ready together, so your tax return can be prepared without chasing statements.
When the books are behind
If your rental records are spread across bank statements and email, catch-up bookkeeping rebuilds the missing months before tax time. From there, monthly bookkeeping keeps them current.
How we work with you
- Free consultation. A 15–30 minute call about your properties or business.
- Fee agreed upfront. Set individually by the number of properties, accounts and transactions, before we start.
- One specialist. The same person keeps your books and prepares your returns, in English or Turkish.
Book a free consultation to talk about your real estate books.
