Tassi and Company’s full suite of accounting, tax and financial consulting services can help you navigate your next project while giving you peace of mind that comes from decades of experience.
Tassi and Company provides full outsourced accounting services to the real estate industry. With a committed partner and state-of-the-art technology that prioritizes transparency, outsourced accounting is a great option for companies that want to grow, increase productivity and manage costs.
Outsourcing key accounting functions eliminates burdensome overhead that comes with maintaining a full-time accounting department. Clients do not incur the time and expense of hiring and training, freeing up financial assets to grow their businesses. Our clients appreciate the flexibility that comes from choosing the financial services that fit their needs and budget. From bookkeeper through senior accounting and finance executive, our team is available to provide expert support where you need it most.
Improve Reporting & Controls
Increase the accuracy and availability of financial information without maintaining and upgrading expensive industry software systems. Our team utilizes the latest industry software to strengthen internal control procedures, ensure accuracy and compliance, and give you access to your secure data anytime, anywhere.
Add Breadth & Depth
When you add industry-leading accounting and tax professionals to your team at the level of your choice, you enhance your capabilities without disrupting your business model. Whether we’re client-facing or behind the scenes, our partnership expands both your depth and breadth of expertise.
Property Management & Development Accounting
To be successful in our current economic environment, real estate developers and management companies need more than hard work. They need the right support. Not only are today’s projects under more financial and regulatory scrutiny than ever before, but the accounting and compliance landscapes evolve almost daily.
Financial statement preparation
General ledger maintenance
Accounts receivable and payable processing
Lease administration, including tenant billing and collections
Compute annual tenant operating expense reconciliations (CAM)
Monthly bank reconciliations
Balance sheet account reconciliations
Budget variance reporting
Depreciation and amortization expense maintenance
Asset purchase and sale analysis and entries
Cash flow projections
Cash management services
Process monthly construction draws and interaction with lenders for timely submission
Software implementation including training and procedure write up
Fund & Partnership Accounting
Tassi and Company provides fund and partnership accounting services for institutional and private equity funds with real estate investments in platforms with a national presence. We help entrepreneurial sponsors, fund advisors and general partners meet the finance, reporting and compliance requirements of their institutional investors.
- Monthly Accounting
- Traditional Venture Fund-Level Consolidated Financial Statements
- Asset-based accounting
- Produce Schedules of Investments
- Prepare and deliver monthly/quarterly investor financials, management-specific reporting, partner capital statements, and net asset value (NAV) statements
- Deal Management
- Implement/manage process to vet prospective investments
- Diligence process tracking for prospective deals
- Partner Relations
- Create, update, and manage partnership waterfalls
- Determine/manage capital calls
- Determine/manage distributions
- Implement/manage partner reporting portal
- Maintain and deliver investor records via client portal (correspondences and fund-level communications, including capital call and distribution letters)
- Additional Accounting Support
- Annual financial audit preparation/management
- Property fair valuation
- Review of the property operating financial statements
- Monitor and calculate asset management fees
- Budgeting and forecasting
- Customized Reporting
- Debt Covenant Calculations and Compliance Reporting
- Comprehensive Financial and Investor Reporting
- Compliance with National Council of Real Estate Investment Fiduciaries (NCREIF) Pension Real Estate Association (PREA) Reporting Standards, including fair value reporting requirements
Development Draw Services
Every development and construction project is unique, requiring a strategic approach to budgeting, lender collaboration, and vendor maintenance. Our development draw professionals are an extension of our clients’ teams, preparing and submitting funding requests, managing project budgets, coordinating with lenders, and ensuring the timely submission of development draws in accordance with project budgets and deadlines.
- Track, reconcile, and update project budgets throughout construction lifecycle
- Coordinate timely payments of vendor invoices
- Prepare and submit draw requests to ensure project funding, continuity
- Collaborate with development managers and lenders to ensure alignment
- Deliver development draw reports and schedules to clients
- Analyze legal documents, including purchase and sale agreements, loan documents, and more
Achieving current tax savings and planning to reduce future tax liabilities are universal financial goals, which is why tax service is a cornerstone of our practice. Our proactive approach ensures tax planning is a critical, ongoing part of your annual business strategy, not an end-of-year activity. Our commitment to thoroughly understanding your tax data enables us to deploy innovative tax solutions that meet your precise financial objectives.
- Preparation of partnership, corporate, Individual and related income tax return filings
- State and local tax expertise
- Tax structuring and transaction assistance
- Asset purchase and sale analysis
- Like kind exchange structuring
- Tax planning and research
- Representation before the IRS, state and local taxing authorities
- Structuring real estate transactions
- Depreciation studies