Cristy Andrews and Reed King Discuss Rental Property Losses in CentrAL Inc! Article
Cristy Andrews, CPA, CGMA, Local Partner in Charge – Growth for our Montgomery accounting and advisory office, and Reed King, CPA, a Member in Birmingham’s Tax Division, recently collaborated on an article for CentrAL Inc!
CentrAL Inc! is a bimonthly publication that covers pertinent topics, trends and concerns that impact businesses in Montgomery and surrounding counties.
In their article, When Rental Property Losses Lower Your Tax Bill, Cristy Andrews and Reed King explain that rental real estate often creates tax losses, but many of those losses are limited by IRS rules and can’t be used right away. They note that qualifying as a real estate professional can change this, allowing certain losses to offset other income and potentially reduce overall taxes.
Cristy and Reed highlight that this status comes with strict requirements, including how much time you spend on real estate activities and how involved you are. They also stress the importance of proper documentation and structure, encouraging business owners to work with a CPA to determine if they qualify and to make sure everything is set up correctly.
Cristy Andrews plays a key role in shaping Montgomery’s office culture and client relationships, leads the Real Estate Industry Practice Group and serves on the firm’s Tax Best Practice Group. Her deep expertise and commitment to excellence have made her a trusted advisor and respected leader within the firm.
With more than 20 years of public accounting experience, Reed King specializes in pass-through entity taxation, entity structuring, federal and state tax planning, compliance and high-net-worth income taxation. He works with clients in the real estate, retail and aviation industries. Reed resides in Bluff Park and enjoys spending time with his wife and three daughters.
Warren Averett’s Real Estate Industry Practice Group serves a wide variety of clients, including commercial, multifamily, retail and residential developers, condominium homeowners’ associations and real estate developers.
Learn more about our Real Estate Industry Practice Group or our Montgomery CPAs and advisors.
Read the full article on CentrAL INC!’s website here.