From first rental to multi-property portfolio, a dedicated Enrolled Agent (EA) who lives and breathes real estate tax can save you far more than a basic preparer. At Henriquez Accounting & Tax Services in Tampa, we help investors, landlords, agents, flippers, and short-term rental (STR) hosts structure entities, track basis, capture every deduction, and stay compliant with the IRS and Florida rules—without surprises. Explore our Bookkeeping, Tax Preparation, and Business Consulting.

Who We Serve

Buy & hold landlords: single-family, multifamily, condos, and townhomes across Tampa Bay.
Short-term rental (STR) hosts: Airbnbs/VRBOs in Tampa, St. Pete, Clearwater, and surrounding beach markets.
Flippers & wholesalers: inventory vs. capital assets, project accounting, and safe harbor elections.
Real estate agents/brokers: S-Corp planning, accountable plans, home office, auto, and marketing deductions.
BRRRR/House hackers: acquisition/rehab tracking, interest capitalization, and basis protection.

Why Work With an Enrolled Agent for Real Estate

Entity strategy: LLC/Series LLC, S-Corp for agent commissions, partnerships for multi-member deals.
Depreciation done right: bonus depreciation, cost segregation coordination, and partial asset dispositions.
Passive activity rules: real estate professional status (REPS), material participation tests, and grouping elections.
STR nuance: treating STRs as non-passive when eligible, average stay tracking, and services provided.
Capital gains management: 1031 exchanges, installment sales, qualified opportunity funds (when appropriate).
State & local items: Florida tangible personal property (TPP) thresholds, tourist development/bed taxes (where applicable).
Audit-ready books: loan statements, closing disclosures (CDs), rehab invoices, and mileage logs—organized.

What We Do (Month–Quarter–Year)

Monthly

Reconcile operating & escrow accounts; classify rehab vs. repairs; track capitalization and basis.
Close with P&L by property/class, Balance Sheet with debt schedules, and Cash Flow.
Track occupancy, ADR, and cleaning/management fees for STRs; maintain evidence for average stay.

Quarterly

Estimated tax calculations incorporating depreciation, passive loss limits, flips’ ordinary income, and self-employment taxes for agents.
Entity checkpoint: reasonable comp for S-Corp agents, partner draws vs. guaranteed payments, accountable plan refresh.
KPI dashboard: net rent per door, operating margin, CapEx as % of rent, DSCR, and cash-on-cash.

Annually

Returns: 1065/1120S/1120 and 1040 with Schedules E/C; 1099-NEC/1099-MISC e-filing and W-9 tracking.
Year-end strategy: cost seg timing, late-year acquisitions, §163(j) elections, grouping elections, and 1031 planning.
Fixed asset roll-forward, partial dispositions, and depreciation schedules by property.

Tampa/Florida Considerations

No state income tax—but federal planning is still critical for rentals, STRs, and agent income.
Tourist development/bed taxes may apply to STRs depending on jurisdiction; we help register and file where required.
Homestead & portability coordination for house hackers moving between primary and rentals.

Common (Costly) Mistakes We Fix

Not separating repairs vs. improvements, missing safe harbor elections, and mis-timed bonus depreciation.
Poor tracking of basis, capitalized rehab, and closing costs—leads to wrong gain/§1231/§1250 treatment on sale.
Claiming REPS without documentation of hours/material participation; misapplying STR non-passive rules.
Agents paying too much SE tax—late S-Corp election or no reasonable comp framework.
Missing local STR registrations and tourist tax filings, risking penalties and interest.

What You’ll Get When You Work With Us

Property-level books, reconciliations, and depreciation schedules—every month.
Quarterly tax projections with safe-harbor planning and voucher reminders.
Return preparation for investors and agents: 1065, 1120S, 1120, and 1040/Schedules E & C, plus 1099 e-filing.
STR compliance guidance: registrations, bed/tourist taxes, and substantiation for non-passive treatment when eligible.
Deal support: 1031 coordination, cost segregation timing, and sale projections before you list.

Book a 30-Minute Consultation

FAQs

Do I need an LLC or S-Corp for my rentals?

Rentals typically flow through to your 1040; an LLC can help with legal separation. S-Corps are often better for agent commissions or flips, not long-term rentals. We’ll model the best fit based on income, risk, and admin cost.

How do I qualify for Real Estate Professional Status (REPS)?

You must meet hour thresholds and material participation tests. We set up a tracking system, evaluate grouping elections, and document participation to support your position.

Can my STR losses offset W-2 income?

Potentially—if your STR activity qualifies as non-passive and you materially participate. We’ll review average stay, services provided, and records to determine eligibility.

When is a cost segregation study worth it?

When accelerated depreciation meaningfully reduces current taxes without creating future pain at sale. We evaluate purchase price, rehab, hold period, and recapture impact before you spend a dollar.

Do you help with Tampa/Florida registrations for STRs and tax filings?

Yes. We’ll identify required licenses/registrations and handle tourist/bed tax filings where applicable, plus 1099s for cleaners and contractors.

Ready to optimize your real estate taxes?

From entity selection and monthly books to STR compliance, 1031s, and annual filings—we’ve got Tampa investors and agents covered. Talk to an Enrolled Agent today. Schedule Consultation

Real Estate Enrolled Agent in Tampa, FL