Choosing the right CPA firm for your annual real estate compliance audit:  Depending on the type of mortgage on your property, that may determine what type of compliance requirements are required to be reported annually. Property owners with mortgages that require any type of audit or review with some compliance requirements, have many things to consider when hiring an accounting firm to complete those annual reporting requirements.

HUD, Rural Development (USDA), Tax Credit and certain bond financing properties are just some examples of properties that will require some form of annual compliance reporting to their respective regulatory agencies.

• How many years of experience on that team?
• Does the team have experience with your specific compliance reporting requirements?
• Are there any referrals or recommendations available from current clients of that real estate team?
• Can they ensure timely filing of all reporting to regulatory agencies? Including timely filing all income tax returns?
• Are they competitively priced with the competition?

Last, but not least, are they someone you could see yourself working with? Do you enjoy talking and meeting with them? Or would you rather go get a root canal at the dentist? Meeting and talking with your outside accountants should not be a dreaded event.

Our experienced real estate team enjoys meeting and talking with our clients throughout the year and want to be a value-added partner in your business.  If you need additional information contact Larry Davidson, CPA at ldavidson@myboyum.com.