Richmond, VA · Real Estate Accountants
Find a Real Estate CPA in Richmond, VA
CPAs who specialize in real estate — investors, syndications, agents, brokers, and developers. Cost segregation, 1031 exchanges, REPS, and partnership returns done by people who actually know the rules. Serving Richmond, VA and the surrounding region — Richmond CPAs serve Fortune 500 headquarters, banking and insurance, tobacco-to-tech manufacturers, and Virginia's state-capital legal and government economy.
Why Richmond clients hire real estate cpas
Local context for real estate accountants in Richmond, VA
Dominant local industries
- Banking, insurance & financial services
- Manufacturing & advanced materials
- Healthcare & life sciences
- Government & legal services
- Real estate & development
Virginia tax climate
Virginia has a graduated personal income tax topping at 5.75% and a flat 6% corporate income tax. The state offers an elective pass-through entity tax (PTET) for SALT-cap planning. Sales tax is 5.3% state (with 0.7%–1.7% local add-ons), and the BPOL gross-receipts license tax applies in most localities and is a recurring compliance item.
Key local deadline
May 1
Virginia individual income tax return (Form 760) due — Virginia's filing deadline is later than the federal April 15 date.
When to hire
- You own rental property and want depreciation done correctly
- You're planning a 1031 exchange or just completed one
- You qualify (or want to qualify) for Real Estate Professional Status
- You're investing in a syndication and got your first K-1
- You're a real estate agent or broker filing Schedule C or as an S-corp
What they do
- Schedule E rental income and expense optimization
- Cost segregation analysis and bonus depreciation planning
- 1031 like-kind exchange tax structuring and reporting
- Real Estate Professional Status (REPS) and material participation analysis
- Partnership returns (1065) and K-1s for syndications and joint ventures
Typical fees
What it costs
Low end
$800
per year
High end
$5,000+
per year
Notes
Single rental: $300–$600 added to 1040. Multi-property + REPS: $1,500–$3,500. Syndication returns (1065): $2,500–$10,000.
Compare
Real Estate CPA vs Generalist CPA
| Factor | Real Estate CPA | Generalist CPA |
|---|---|---|
| Cost segregation | Standard offering | Often refers out |
| 1031 exchanges | Routine | Rare — risky to handle occasionally |
| REPS documentation | Proactive tracking | Reactive at year-end |
| Syndication K-1s | Handles 10–100+ per year | Limited experience |
| Industry fee benchmarking | Yes | No |
Questions to ask
- How many real estate investors do you serve, and what types?
- Do you run or coordinate cost segregation studies?
- How do you document REPS qualification?
- Can you handle 1031 exchange reporting on Form 8824?
- Do you work with my QI (qualified intermediary) directly?
- Do you prepare 1065 partnership returns for syndications?
Red flags
- Doesn't track basis or accumulated depreciation by property
- Misses passive activity loss limitation rules
- Recommends REPS without understanding the 750-hour test
- No experience with 1031 exchange timing rules (45/180 days)
- Treats short-term rentals the same as long-term rentals
Documents to prepare
- Closing statements (HUD-1 / ALTA) for every property
- Depreciation schedules from prior CPA
- Rent rolls and operating expense summaries
- 1031 exchange documentation if applicable
- K-1s from any syndications or partnerships
By city
Real Estate Accountants in Richmond in major U.S. cities
Related
Other specialties you might need
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Real Estate Accountants serving Richmond, VA
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FAQ
Real Estate Accountants in Richmond — common questions
How much does real estate accountants cost in Richmond?+
Richmond real estate accountants typically charge $800–$5,000+ per year. Single rental: $300–$600 added to 1040. Multi-property + REPS: $1,500–$3,500. Syndication returns (1065): $2,500–$10,000.
Do I need a Virginia-licensed CPA to work with a real estate accountants in Richmond?+
For Virginia state filings, your preparer should hold a CPA license from the Virginia Board of Accountancy or be an Enrolled Agent. Out-of-state pros can prepare your federal return but should not sign as a CPA on Virginia returns. Virginia has a graduated personal income tax topping at 5.75% and a flat 6% corporate income tax.
What is cost segregation and is it worth it?+
Cost segregation reclassifies portions of a building into shorter-life assets (5, 7, 15 years) to accelerate depreciation. For properties over ~$500K, the present-value tax savings typically far exceed the study cost of $3K–$15K.
What is Real Estate Professional Status (REPS)?+
A tax status allowing rental losses to offset W-2 and active income. Requires 750+ hours per year and more than half your working time in real estate trades or businesses, with material participation in each property.
How does a 1031 exchange work?+
Sell investment real estate, identify replacement property within 45 days, and close within 180 days through a qualified intermediary — deferring capital gains and depreciation recapture. Strict timing and identification rules apply.
Are short-term rental losses treated differently?+
Yes. Average guest stays of 7 days or less can avoid passive activity rules, allowing losses to offset other income if you materially participate — without needing REPS.
Do real estate agents need a specialist CPA?+
Agents earning $100K+ usually benefit from S-corp election analysis, expense tracking, and retirement plan setup — work most generalist CPAs don't do well for commission-based earners.