Real Estate & Rental Properties
Accounting and Bookkeeping for Real Estate & Rentals
Real estate investments run on cash flow, depreciation schedules, security deposit tracking, and multi-unit clarity. Whether you hold single-family rentals, commercial spaces, or vacation properties, we keep your records organized, compliant, and tax-ready.
Black Hills Accounting provides specialized bookkeeping and tax preparation designed around property management reality. We reconcile rental income, categorize deductible repairs, track capital expenditures, and prepare clean schedules for annual tax filing.
Built for Property Owners and Managers
Generic bookkeeping often lumps rental revenue and expenses into one bucket. That leaves you guessing which properties are profitable and leaves your tax preparer untangling numbers in April. We structure your accounting door-by-door and property-by-property:
Unit & Property-Level P&L Reporting
Track operating performance for individual properties or complete portfolios:
- Separation of income, repairs, utilities, insurance, and management fees by property.
- Detailed distinction between deductible current repairs and capitalized improvements.
- Monthly profit and loss statements giving clear visibility into net rental yields.
Short-Term Rentals & Sturgis Motorcycle Rally
Vacation rental accounting with regional tax expertise:
- Reconciliation of payouts from Airbnb, VRBO, and direct booking channels.
- State and local tourism/lodging tax tracking and reporting.
- Specialized guidance for Sturgis Rally rentals, including IRS 14-day tax-free rental rule compliance.
Security Deposits & Escrow Tracking
Maintain strict compliance with tenant security funds:
- Clear separation of tenant security deposits from operational rental funds.
- Proper accounting for deposit refunds, cleaning withholdings, and damage deductions.
Mortgages, Escrows & 1099 Contractor Compliance
Full reconciliation of financing and repair vendor paperwork:
- Monthly breakdown of mortgage payments into principal, interest, and escrow.
- Year-end 1099-NEC preparation for maintenance contractors, cleaners, and landscapers.
- Tax-ready Schedule E or partnership return (Form 1065) preparation.
Get Your Rental Books Reconciled
Do not wait until tax season to organize your properties. Schedule a 15-minute consultation to review your portfolio and ensure every door is accounted for.