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Clearly, the real estate landscape hasn’t gotten any easier to navigate over the past several years. As if the overall economic downturn and capital crisis weren’t enough to deal with, changes to accounting and tax rules add another layer of complexity to doing business.

“The plethora of new rules and regulations have a substantial impact on the accounting, tax and regulatory sides of the business,” says Scott Farb, chairman of the National Real Estate Committee for the Reznick Group. “There’s been significant legislation that will have an impact on financial reporting; I don’t even think it’s all been completely analyzed. Even the accounting rules are getting so complicated and changing so fast that companies are having a very difficult time keeping up and complying with all the changes.”