Property-level books
Income and expenses tracked by property, so you know what each one actually earns.
INDUSTRIES / REAL ESTATE
Real estate accounting and tax planning.
Books, depreciation and planning for rental property owners and real estate businesses in Rhode Island and Southeastern Massachusetts.
BIBBY & CO. / RHODE ISLAND & SE MASSACHUSETTS
WE KNOW PROPERTY
The tax is decided before the closing.
Real estate decisions are tax decisions: how you hold the property, how it's depreciated, and what happens when you sell. We help owners plan ahead and keep clean books for every property.
Our team includes a licensed Realtor, which helps when we work with investors and property businesses.
Rental booksDepreciationEntity structureSale planning
HOW WE HELP
How we help owners.
Where real estate owners usually need us most.
Depreciation and improvements
Repairs versus improvements handled correctly, with depreciation schedules kept current.
Entity and ownership
LLCs, partnerships and co-owned property set up with tax and bookkeeping in mind.
Buying and selling
Tax estimates on a sale, recapture, and 1031 exchange planning before you commit.
REPAIRS VS. IMPROVEMENTS
Repair or improvement? It matters.
Whether a cost is a repair you deduct now or an improvement you depreciate changes your tax bill and your property records. A new roof, a replaced furnace and a repainted unit are treated differently.
We classify the work as it happens, so the numbers are right when the return is prepared.
WHEN YOU SELL
What happens when you sell.
Selling a rental is not just the sale price minus what you paid. Depreciation you took, or were allowed to take, is generally recaptured at sale, and that portion can be taxed differently than the rest of the gain.
Sale expenses, suspended passive losses and your state tax position matter too. That is why we want to see the numbers before you sign a purchase and sale agreement. We can estimate the tax on a sale, show what depreciation recapture adds, and talk through whether a 1031 exchange fits your timeline.
Thinking about selling a rental? Read what to know before selling a rental property ↗
HOW WE HELP
How we keep the books for property owners.
One clean set of reports for you, your lender and your return.
Property-by-property tracking
Income and expenses tracked for each property.
Security deposits
Kept separate from rental income.
Mortgage payments
Split correctly between interest, escrow and principal.
Improvements and depreciation
Schedules kept current as work is done.
Reports for lenders and returns
One clean set of numbers for you, your lender and your tax return.
LOCAL TO LINCOLN & PROVIDENCE COUNTY
A CPA down the road, not a call center.
We work with landlords, property managers and real estate investors from our office at 14 Breakneck Hill Road in Lincoln, serving Providence County and the towns around it: Providence, Pawtucket, Cumberland, Smithfield, North Providence, Woonsocket and Central Falls, plus Southeastern Massachusetts, including Attleboro, Seekonk, Fall River and Taunton.
We know Rhode Island and Massachusetts filing rules, and our CPA is licensed in both states. When you have a question, you talk to the people who keep your books.
COMMON QUESTIONS
Answers before we get started.
Every situation is different. These are the questions owners ask us most.
Do you work with landlords who own a few rental properties?
Yes. We work with individual landlords, small portfolios and real estate businesses in Rhode Island and Southeastern Massachusetts.
Can you help before I buy or sell a property?
That's the best time. We can estimate the tax on a sale, review depreciation recapture and talk through options like a 1031 exchange before you sign.
Should each property be in its own LLC?
Sometimes. It depends on liability, financing and how much administration you want. We'll go through the tax and bookkeeping side with you and your attorney.
I own property with a partner or family member. Does that change the bookkeeping?
It can. Co-owned property may need a partnership return and separate tracking of each owner's share. We set that up with the tax filing in mind.
Can you work with my attorney and property manager?
Yes. We coordinate with them so the books reflect what actually happened at closings and in rent collection.
NEXT STEP
Thinking about buying or selling?
Tell us where things stand and what you want fixed. We'll start with a short fit conversation, then a review of your books before anyone quotes a price.