Real Estate

Real Estate Accounting, Tax & Advisory Built for Today's Market

Real estate businesses are navigating a continuously shifting market. From inflation and tariff pressures to changing regulations, workforce challenges, and an interest-rate environment that affects everything from financing to valuations, the industry is complex and constantly evolving. That uncertainty is why it’s crucial to have an accounting and advisory partner who understands the industry and can help you make confident decisions.

Mowery & Schoenfeld works with real estate developers, owners, operators, investors, real estate investment trusts, funds, family offices, and others to provide accounting, tax, audit, and advisory support built around your goals. Our experience in construction and manufacturing also gives us added perspective to help our diverse clients. Whether you focus on multifamily, industrial, retail, mixed-use, or commercial real estate, our top 10 Illinois CPA firm brings the technical knowledge and practical, personalized guidance you need.

Client Advisory Services Partner

Insights

Maximizing Tax Benefits Through Cost Segregation >

Deferring a Tax Hit With a Sec. 1031 Exchange >

Who We Serve in Real Estate

While every real estate business has unique goals, many face similar challenges related to cash flow, tax planning, financing, compliance, and reporting. We understand the nuances affecting the various client types and how we can best assist them. Our team tailors services to the specific needs of each client and asset type.

We work with growing businesses and investors in the following segments:

Developers
Owners
Operators
Funds
High-net-worth investors
Family offices
Joint ventures

Whether you are purchasing, developing, operating, or preparing to sell a property or portfolio, our team can help you manage the accounting, tax, wealth management, and advisory needs that come with each stage of the real estate journey.

Real Estate Accounting, Tax, and Advisory Services

Looking for a real estate CPA? You can depend on our experienced advisors to give real estate-specific guidance that takes into account the industry’s legislation, issues, opportunities, and trends.

Tax services, strategy, and planning

Tax return preparation, planning, projections, and advisory
Entity structuring
Individual tax services for investors
State and local tax considerations
1031 exchanges and Opportunity Zone investment guidance
Cost-segregation study coordination
Tax credits review and advice

Transaction and deal advisory

Deal advisory services
Transaction structuring and planning
Transaction due diligence
Quality of Earnings (QoE) support
Post-transaction planning and integration support

Client advisory and outsourced accounting

Cash flow analysis
Internal accounting best practices
Outsourced CFO support
Project-level accounting
Budgeting and forecasting
Financial assistance and statement preparation
Strategic planning
Outsourced accounting and advisory support
Construction accounting support
Strategic business planning

Wealth management

Wealth preservation and estate planning
Succession planning
Portfolio management
Family office and high-net-worth investor support
Charitable gift planning

Cost Segregation, 1031 Exchanges, and Real Estate Tax Strategy

Cost segregation is a valuable strategy that can help real estate owners accelerate depreciation by identifying building components that may qualify for shorter depreciation periods, accelerating tax deductions and improving cash flow sooner. We work with a partner that performs these cost segregation studies, coordinating with qualified engineering specialists when appropriate. We can also help you understand how cost segregation fits into your broader tax strategy.

LEARN MORE ABOUT COST-SEGREGATION STUDIES

1031 Exchanges

A 1031 exchange is another valuable tax-deferral strategy to explore when you sell business or investment real estate and reinvest the proceeds into another qualifying like-kind property. Instead of recognizing the gain in the year of sale, you may be able to defer capital gains tax and keep more capital working in your real estate portfolio. These exchanges can be a helpful way to grow your portfolio, explore new investment opportunities, plan for the future, and preserve more of your wealth over time, but the rules can be complex. Our experts can help you sort out the rules, including finding a replacement property within 45 days, completing the exchange within 180 days, and structuring the transaction carefully to avoid unintended tax consequences.

We assist real estate owners, investors, operators, family offices, and others to figure out how a 1031 exchange may fit into your broader tax strategy. Our team can model the tax impact of a potential sale, review the timing and reporting considerations, coordinate with legal and other advisors, and show you how the exchange affects basis, depreciation, cash flow, and future planning. By looking at the full picture, we help you make informed decisions about whether a tax-deferred exchange supports your overall investment goals.