Property operations & real assets

Books and taxes for billboard site owners.

A ground lease payment from an outdoor advertising company a few times a year, a signing bonus that arrived once, and an escalation clause buried in a lease you signed a decade ago. Gus sorts all of it, and an accountant checks every transaction.

Book a call What we handle
  • From $197 a month
  • An accountant on every transaction
  • Cancel whenever
JanuaryExample month
$8,400
what you made

January came in at $8,400. The Route 9 site's annual payment landed with its scheduled 3 percent escalation applied, and I checked it against the lease so a missed increase would not slip through.

  • Ground lease, Route 9 siteGround lease income
  • Ground lease, Exit 12 siteGround lease income
  • County land parcel taxProperty tax
  • Sign permit renewal feePermits and licensing
Money in$9,800
Money out$1,400
Set aside for taxes$2,000
An example month. Yours will have your numbers.

Why your books are different

A billboard ground lease's books go quiet for months, then need to be exactly right.

A generalist expects rent every month. Your income might land twice a year from four different sites on four different lease schedules, with escalations that were set a decade ago and are easy to forget between payments. When the books cannot tell one site's lease from another, a missed increase goes unnoticed for years.

  1. 1

    A signing bonus gets counted as one big month

    A new lease often comes with an upfront signing bonus on top of ongoing rent, and counting the whole bonus as income the month it arrives can make that month look unusually strong for a payment that is really tied to the years ahead in the lease.

    What we doFlags a signing bonus separately from ongoing ground lease income, so the accountant can decide whether to spread it across the lease term.
  2. 2

    An escalation clause gets missed between payments

    A lease with a scheduled annual increase, often tied to a fixed percentage or an index, is easy to lose track of when payments only come once or twice a year, and a missed escalation quietly costs real money for as long as it goes uncaught.

    What we doChecks each payment against what the current lease year should be paying, so a missed escalation gets caught instead of repeating for years.
  3. 3

    Multiple sites get combined into one number

    Four billboard sites on four different lease terms and renewal dates all landing in the same account can blur into one lump sum, hiding which specific site's lease is coming up for renewal or paying below where it should be.

    What we doTracks ground lease income site by site, so each lease's terms and timing stay visible on their own.
  4. 4

    Structure ownership gets confused with land ownership

    Most billboard leases have the advertising company own the actual sign structure while you own the land underneath it, but if the books do not reflect that split clearly, it becomes unclear what you actually own and what should be depreciated.

    What we doFlags whether you or the advertising company owns the physical structure, so only what you actually own ends up on your depreciation schedule.
  5. 5

    Property tax on a shared parcel gets applied to the whole property

    When a billboard sits on a corner of a larger piece of land used for something else, the full property tax bill is not really a cost of the billboard lease alone, and treating it that way misstates what the billboard income is actually netting you.

    What we doFlags a shared parcel so the accountant can apportion property tax between the billboard use and the rest of the property.

Your categories

The categories Gus keeps for a billboard site owner.

Set up once for how ground lease payments come in and what little the sites themselves cost. You never pick a category. He does, and an accountant checks it.

Money in

  • Ground lease incomeRecurring lease payments from the outdoor advertising company, tracked site by site.
  • Signing bonusesOne-time payments received when a new lease is signed.
  • Lease renewal paymentsPayments tied to renewing an existing lease term.
  • Digital display revenue shareA percentage of ad revenue, where a lease calls for it on a digital board.

Money out

  • Property taxThe tax bill on the land under each site.
  • Permits and licensingLocal and highway department sign permit renewals.
  • Legal feesLease negotiation and renewal review.
  • Surveying feesBoundary or easement work tied to a site.
  • Vegetation and access clearingKeeping sightlines clear when a lease requires it.

What we watch for you

  • Escalation compliance

    Whether each site's payment matches the scheduled increase in its specific lease.

  • Lease renewal timeline

    How far out each site's lease is from renewal, tracked so none catch you by surprise.

  • Income per site

    What each specific location is actually paying, so an underperforming lease is easy to spot.

  • The set-aside

    What you will owe, tracked year-round even though payments only land a few times a year.

Ask Gus

Things billboard site owners ask Gus.

Text him like you would text anybody. He answers in plain English, and when a question is above his pay grade, an accountant looks and gets back to you.

The Route 9 payment came in higher than usual this year. Is that right or a mistake?

That is right. Your lease has a scheduled 3 percent annual increase, and this payment matches what that site should be paying this year.

We just got a signing bonus for a new site. Does that all count as this year's income?

That is above my pay grade to decide alone. I flagged it separately from ongoing rent so the accountant can determine whether it should be spread across the lease term instead of counted all at once.

Do I owe self-employment tax on ground lease income?

Usually not. A straightforward land lease like this is typically passive rental income, not an active business, so self-employment tax generally does not apply. The accountant confirms that fits your specific leases.

The tax side

The tax side of a billboard ground lease.

Most of what goes wrong here is timing and ownership: a signing bonus counted too early, and a structure that belongs to someone else ending up on your books.

What your return has to get right

Your accountant signs it, so it gets done right the first time.

  • Ground lease income is usually straightforward passive rentA billboard ground lease is typically simple rental income, with no active services provided, so it usually does not trigger self-employment tax the way an active business would.
  • A signing bonus may need to be spread over the leaseAn upfront bonus tied to a multi-year lease is sometimes recognized over the lease term rather than counted entirely in the year received. Whether that applies to your specific lease is a call the accountant makes.
  • Only what you own gets depreciatedIf the advertising company owns the sign structure, only your land lease income is yours to report, since you have nothing to depreciate. If you own the structure yourself, it depreciates as its own asset separate from the land.
  • Property tax on a shared parcelWhen a billboard sits on part of a larger property used for other purposes, the property tax may need to be apportioned rather than fully applied against the billboard income.

Deductions billboard site owners miss

Your bookkeeper knows what to look for in your statements. You never have to.

  • Property tax on billboard sites
  • Permit renewal fees
  • Legal fees for lease review
  • Surveying and easement work
  • Accounting fees
  • Mileage to inspect a site
  • Liability insurance, if carried
  • Title and recording fees

General information about 2026 federal rules, not advice for your business. Your accountant looks at your actual numbers before anything gets filed.

All year, not just April

A billboard ground lease's year, kept every month.

Payments land a few times a year on their own lease schedules. Your taxes come on a schedule regardless. Your team keeps you ahead of both. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.

  1. January

    Plan the year

    Last year's return gets started and you get a monthly set-aside so tax season is already handled, even with income landing unevenly.

  2. April

    Filed. Done.

    Your return is filed and signed. No surprise bill, because the set-aside has been running since January.

  3. July

    Halfway check

    Where you stand, what you will owe, and whether a new lease or signing bonus this year changed the number.

  4. October

    Before renewal season

    Before any leases coming up for renewal, Gus reviews escalation compliance and lease renewal timelines across every site.

What you get

Starts at$197a month

What you pay depends on what your business needs, and it does not move after that, busy season or slow. No hourly bills, no surprise invoices, no setup fee.

Book a call
  • Monthly bookkeeping

    Every transaction sorted into categories set up for billboard site owners. You never categorize a thing.

  • An accountant checks every transaction

    Real review, every month, before your books close. Not a spot check.

  • Your business tax return, filed

    Prepared, reviewed, and signed by that same accountant every year.

  • The monthly number

    What you made, what you spent, what to set aside for taxes.

  • Your own bookkeeper

    A real person assigned to your business, in the app whenever you need them. No hold music.

  • On your books all year

    Every month, not just in April. Your team speaks up whenever something is worth your attention.

  • Cancel any time

    No contract. No cancellation call. Your books are yours.

Straight answers

Questions billboard site owners ask first.

My income only lands twice a year. Does a monthly bookkeeping subscription still make sense?

Yes. Gus works from your bank statement whenever a payment lands, and the value is in catching a missed escalation or a bonus counted wrong, which matters just as much on an infrequent payment schedule as a monthly one.

Do you track escalation clauses for each of my leases?

Gus checks each payment against what the specific lease should be paying that year, so a missed increase gets flagged instead of quietly repeating.

I do not own the actual sign structure, just the land. Does that change how the books work?

Yes. Since the advertising company owns the structure, there is nothing there for you to depreciate, and your books just reflect the ground lease income and the land's own costs.

We got a large signing bonus for a new 15-year lease. How is that taxed?

It may need to be spread across the lease term rather than counted entirely this year, which is a call the accountant makes based on your specific lease terms.

I own four billboard sites. Can Gus keep them separate?

Yes. Ground lease income is tracked site by site, so each lease's terms, timing, and renewal date stay visible on their own instead of blending into one number.

My billboard sits on the corner of a bigger property I use for other things. How does property tax work?

The tax bill may need to be split between the billboard use and the rest of the property. Gus flags the shared parcel and the accountant works out a reasonable apportionment.

Is a real accountant checking my books?

Yes. You get your own bookkeeper, Gus does the first pass on every transaction, and an accountant checks every one before your month closes. That same accountant prepares, signs, and files your business return. Goatkeeper is not a CPA firm, and we never pretend a person looked when they did not.

What does it cost, and can I cancel?

It starts at $197 a month, depending on what your business needs. No setup fee, no hourly bills, no contract. Cancel any time from the app, and your books go with you.

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Pick a time. That's the whole signup.

Fifteen minutes with a real person on our team. They look at where your books are, tell you straight what it takes to get caught up, and get you set up on the spot if it fits.

  • $197 a month to start
  • An accountant on every transaction
  • Cancel whenever