Year-End Round Up: Gulf Coast Accounting

Accounting Updates:

As the holidays approach us, this means more family, good food and lasting memories! It also signifies that we have another year coming to an end.

No, 2018 is not over yet! But we want to get ahead so we can take advantage of the slowing 4^th quarter.

Account Updates:

During the next couple of months, the Accounting Team will be wrapping up your accounts, paying property taxes and tackling tax forms. It is a busy time of year for us and we will be working diligently to get it all done.

First, it’s important that we have all your correct information. In order to finalize your accounts for the year, we will be working to make sure all documentation is up to date. If you have moved, changed your phone number/email, or even opened a new bank account, please let us know so we can update your file. We don’t want you to miss us!

Property Taxes:

Also, don’t forget about your property taxes! Did you know that if you pay your property taxes in November you get a 4% discount? For those of you that have requested we accrue and pay your annual property taxes, we will be doing so this month to take advantage of the highest discounted rate. Let us know if you’re interested in this program. Do you have questions on where your tax dollars go? Visit your county website for more information. ( Manatee County - https://www.taxcollector.com, Sarasota County - https://www.sarasotataxcollector.com, Hillsborough County - http://www.hillstax.org/)

Tax Forms:

And finally, we will be preparing for tax season. This is the most dreaded part of the year for most. We’ll try to make it as smooth as possible. We will be sending tax forms to your online portals so you’ll have access anytime. If you opt out of the consent to receive your tax forms electronically, we’ll need to update your settings, so please let us know. Your tax forms will be posted no later than January 31^st.

Don’t panic, there is still time to take advantage of tax deductions and credits. And if you haven’t heard, there are favorable changes to the tax brackets for 2018 that rental property owners will appreciate. A quick call to your CPA could help you save this year and help plan for next!

Sincerely,

Your Accounting Team

Hungry for more? Check out the two blogs below or visit our Owner Resource Center here to find answers to all of your questions. Or give us a call at (941) 782-1559, we’d be happy to answer any questions you may have.

Tax Considerations of a Foreign Investment Property Owner in Lakewood Ranch

Benefits of Having a Landlord-Friendly Investment Property in Manatee and Sarasota County