Updated
Rental Taxes & Property Accounting
Separate the rental-tax accounts
Hawaii's rental guidance distinguishes income tax, general excise tax, and transient accommodations tax. The relevant filings depend on the rental activity. Review the lease or stay pattern and license records before assuming a platform payout is the amount to report. Hawaii residential rental-tax guidance.
Hawaii County TAT payment trail
Hawaii County publishes separate transient-accommodations tax payment instructions and explains its use of state TAT information. Reconcile county payments to the correct property and period. Retain the state returns and payment confirmations together so amounts credited to one authority are not mistaken for payments to another. Hawaii County TAT instructions.
Permission to operate and property accounting
The county's planning department provides short-term vacation-rental resources. Obtain the property's permit or other supporting status documentation alongside tax records. Separately track improvements, repairs, management fees, owner use, and financing to support the accounting review. Hawaii County vacation-rental resources.
How we scope the work
We start with the decision or filing you need to complete, the entities and people involved, and the deadline. After reviewing the available records, we identify missing information and propose the services and deliverables. For ongoing work, we establish a close and filing calendar so bookkeeping, tax projections, and owner reporting use consistent information.
For an audit or other assurance request, bring the lender, grant, board, or regulatory requirement. We confirm the engagement type and applicable professional requirements before accepting the work.
CPA services for Hilo clients
Tax preparation
Coordinate business and owner returns using reconciled income, allocations, and payment records.
Tax planning
Compare entity elections, transaction timing, and owner consequences before making a decision.
Financial reporting & cash flow
Connect the monthly close, forecasts, and financing needs to clear management reports.
Audit & assurance
Review the intended financial-statement user, required engagement, records, and deadline to define the appropriate scope.
Hilo CPA questions
Is the rental manager's net deposit enough for the tax review?
No. Send statements showing gross receipts, fees, taxes, refunds, and amounts retained by the manager, together with filed returns. The net deposit is one part of the reconciliation.
How do Hilo clients work with KAS?
We provide virtual service through secure document exchange, scheduled video meetings, and electronic signatures. The engagement defines the services, responsibilities, and deadlines; this service area does not represent a walk-in office.