Real Estate Development, Rental and Management

Galanti & Company’s expertise in providing tax and accounting services for the real estate industry is based on a solid understanding of accounting principles and tax regulations, as well as experience with:

• Distinguishing when to expense repairs and capitalize improvements
• Recognizing opportunities for reaping tax benefits from cost segregation studies
• Calculating tax liabilities and reporting sales and exchanges of property
• Reporting deferred gains on tax-free exchanges (Section 1031)
• Rules application for replacement of property for involuntary conversions
• Calculating and reporting the step-up basis for properties acquired by inheritance or a partnership interest purchase