Project costs related to real estate can be tangible and intangible. A simple way to distinguish between these costs is if you can physically touch the item related to the cost; it is tangible while if it just a cost on paper that does not have a physical equivalent, it is intangible. Examples of tangible costs include land and brick and mortar such as a building. Examples of intangible costs include architectural planning and design and interest and taxes.
How these costs are reported or recorded on your books are important to ensure proper accounting methods. Florida Real Estate Accountants (FREA) have a qualified team of real estate accountants that can assist you in determining if your real estate costs are recorded correctly. Schedule your appointment today to speak with one of the members of our team at the link below or email us at info@floridarealestateaccountants.com
Florida Real Estate Accountants 