Who We Serve

Accounting & Tax Support for Real Estate Investors

Owning residential or commercial investment property comes with more than collecting rent. You also have to manage bookkeeping, depreciation, tax planning, entity decisions, property improvements, and the tax impact of buying or selling real estate.

First Choice Tax Advisors helps residential and commercial real estate investors in Providence, RI, and throughout Rhode Island stay organized, plan ahead, and understand how property decisions affect their overall tax picture.

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Built for the Financial Side of Real Estate Investing

As your portfolio grows, the tax and accounting side of real estate can become increasingly complex.

We help investors understand property-level performance, stay ahead of tax obligations, and evaluate planning opportunities before major transactions are completed.

Our role is to help you understand the tax impact of your decisions and coordinate with attorneys, qualified intermediaries, cost segregation specialists, and other professionals when needed.

How We Help

Rental Property Accounting & Financial Reporting

Keep income, expenses, improvements, and property activity organized so you have reliable records for tax preparation and better visibility into how each property is performing.

Tax Planning

We review rental activity, other income, estimated payments, and upcoming transactions to help you understand your projected tax position and identify planning opportunities.

Depreciation & Property Improvements

We help review the tax treatment of property purchases, renovations, improvements, repairs, furniture, equipment, and other capital expenditures.

Cost Segregation Planning

For qualifying properties, we can help evaluate whether a cost segregation study may be worth considering, discuss the potential tax impact, and coordinate with a qualified cost segregation specialist when appropriate.

1031 Exchange Planning

Considering selling an investment property and reinvesting the proceeds? We can help you understand the tax considerations surrounding a potential Section 1031 exchange and coordinate with your qualified intermediary and other advisors before the transaction is completed.

Tax Preparation

We prepare and coordinate your rental activity with your individual and business tax filings so your real estate investments are considered as part of your overall tax picture.

Year-Round Advisory

Get CPA guidance throughout the year on acquisitions, dispositions, financing decisions, property improvements, estimated taxes, cash flow, and other financial decisions affecting your portfolio.

Who We Typically Work With

  • Residential rental property owners
  • Multi-family property investors
  • Short-term rental owners
  • Investors with multiple rental properties
  • Real estate partnerships and LLCs
  • Investors acquiring or selling property
  • Property owners considering cost segregation
  • Investors evaluating a 1031 exchange

Common Questions We Help Answer

  • How can I reduce taxes on my rental or commercial property?
  • What rental property expenses can I deduct on my taxes?
  • How does depreciation affect my real estate taxes?
  • Is a cost segregation study worth it for my property?
  • How much capital gains tax will I owe when selling my investment property?
  • Can a 1031 exchange help me defer taxes on a property sale?
  • Should each rental or commercial property have its own LLC?
  • How will buying another investment property affect my taxes?
  • How does owning rental property affect my personal tax return?
  • How are Airbnb and short-term rental properties taxed?

Planning Before the Transaction Matters

Many real estate tax opportunities depend on decisions made before a purchase, renovation, or sale is completed.

Waiting until tax preparation season may mean important planning decisions have already been made.

Our approach is designed to help you evaluate the tax implications earlier so you can make more informed real estate decisions.

Ready to Take a More Proactive Approach to Your Real Estate Taxes?

Let’s talk about your current properties, upcoming transactions, and the tax and accounting questions you want help solving.

Schedule a Free Consultation