Real Estate Tax Services for Investors and Owners

Expertise in Real Estate Investments

With 70% of our clients active in real estate, Gibbons & Associates has unmatched experience in Utah’s property market. We work with landlords, developers, flippers, and investors to navigate tax rules affecting depreciation, capital gains, and income reporting. Our team stays ahead of law changes that impact real estate so you benefit from the latest strategies.

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Rental Property Tax Preparation & Planning

From single-family homes in Logan to multi-unit rentals in Salt Lake, we prepare accurate Schedule E filings and maximize deductions for mortgage interest, property taxes, maintenance, and travel. We also help rental property owners track depreciation, distinguish between repairs and improvements, and manage passive activity loss rules.

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1031 Exchanges & Capital Gains

When you sell a property, the tax impact can be significant. We guide investors through 1031 exchanges, coordinating with intermediaries and ensuring filings are accurate. For those not using a 1031, we help manage capital gains with installment sales or timing strategies that reduce the tax hit.

Cost Segregation & Depreciation Strategies

Accelerating depreciation can provide major upfront savings. We review cost segregation studies and apply the results to your tax filings, making sure you get the benefit of larger deductions sooner. Our CPAs also help evaluate when bonus depreciation is the right choice for your portfolio.

Opportunity Zone Investments

Investors with large capital gains may qualify for powerful deferral and reduction incentives by reinvesting into Qualified Opportunity Funds. Our partner Isaac specializes in these strategies, making Gibbons & Associates one of the few CPA firms in Northern Utah with this expertise.

Entity Structure for Real Estate Businesses

Real estate investments are often held in LLCs or partnerships. We advise clients on entity setup and handle the tax filings, from complex partnership allocations to maintaining compliance across multiple states.

Solving Complex Real Estate Tax Issues

Whether it’s short-term rental income, Section 199A deductions, or cross-state compliance, our CPAs bring practical solutions. We’ve helped Utah investors manage everything from property tax limits to flipping income classification, always ensuring the best tax outcome possible.

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Questions About Real Estate Tax

  • What can investors write off?

    Mortgage interest, property taxes, insurance, repairs, depreciation, and more.

  • How do 1031 exchanges get reported?

    On Form 8824, which we prepare to show deferred gain correctly.

  • What is an Opportunity Zone?

    A program where investing gains in designated areas can defer and reduce taxes.

  • Can you handle multi-state properties?

    Yes, we prepare returns and allocate income across all states where you own property.

  • Do I need an LLC per property?

    Not always; we’ll coordinate with your attorney and file taxes accordingly.