Keystone CPA vs AE Tax Advisors
Compare written strategy, real estate implementation, return filing and the complete cost of an engagement.
Which firm fits your situation?
Keystone CPA and AE Tax Advisors both discuss real estate tax planning, business owners and high-income taxpayers. Keystone was founded by Amanda Han and Matt MacFarland, whose real estate tax books and education are prominent parts of its public practice. Its website describes a written tax plan, implementation steps and tax preparation for planning clients at a separate fee. AE Tax Advisors offers a $7,800 advisory engagement and separately scopes returns, amendments and cost segregation. Both firms should be judged by the written work they will do for your particular entities and properties.
Keystone is a strong shortlist candidate when you value its real estate education, group strategy sessions and a planning relationship that can cover investments across states. AE is a strong shortlist candidate when you need an operating-business review alongside residential rentals, a lookback for prior-year errors, and a defined route from a depreciation study to the affected tax return. These are fit questions, not claims that either firm lacks the other's capabilities.
Research basis: Keystone's published FAQ and service description, AE Tax pricing, and AE Tax process. Reviewed September 27, 2026. AE Tax Advisors authored this independent comparison and is not affiliated with Keystone CPA.
Compare the written scope
| Question | Keystone CPA | AE Tax Advisors |
|---|---|---|
| Client focus | Real estate investors, business owners and high-income earners nationwide | Profitable business owners and real estate investors, especially where both need coordination |
| Planning deliverable | Website describes a written tax plan and implementation steps | Written advisory plan with review of prior returns, entities, books and depreciation |
| Real estate planning | Publicly discusses cost segregation, passive losses, short-term rentals and entity structure | Cost segregation, passive activity and Form 3115 analysis, subject to engagement scope |
| Return preparation | Available to planning clients for a separate fee, according to Keystone | Business and individual returns separately scoped |
| Published advisory price | Keystone states planning fees can range from $20,000 to $55,000 | $7,800 standard advisory fee, with other work separately scoped |
| Founder access | Keystone describes twice-monthly group sessions and select levels of private access | Ask which named AE professional is responsible for your plan and review |
The fee lines do not describe identical deliverables. Ask each firm for its full first-year cost, recurring fee, entity and individual filing costs, study fee, amendment cost, advisor access and work excluded from the engagement.
Real estate loss usability matters more than a projected deduction
A study can accelerate depreciation without making a loss available against W-2 or operating-business income. Before paying for one, identify the property basis, placed-in-service date, average guest stay, material participation evidence, grouping choices if relevant, passive-loss carryovers, and expected sale horizon. Ask who will prepare and sign the return, whether a Form 3115 is needed for prior-year depreciation and who is responsible for the supporting asset schedule.
Keystone's public FAQ expressly discusses cost segregation and short-term-rental participation. AE's cost segregation service and REPS versus short-term-rental guide address the same underlying decisions. Request the same property facts and written scope from both firms before comparing expected outcomes.
What to ask on the discovery call
- Who personally designs, reviews and implements the plan?
- Are the entity and personal returns included, separately quoted, or handled by my existing preparer?
- Will you review three prior years and quantify amendment or accounting-method opportunities?
- Who documents passive-loss usability before a cost segregation study is ordered?
- How are state filings, quarterly updates, audit support and founder access priced?
- What records and decisions do you need from me, and when will each deliverable be ready?
For a wider shortlist, see the Hall CPA comparison, cost segregation provider guide, and owner advisory scope guide. Tax results depend on complete facts, current law and properly supported filing positions.
Review Your Business and Properties Together
Bring your entity list, returns and property schedule to a discovery call. We can outline the work and quote the scope in writing.
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