SPECIALISTS PROVIDING EXCELLENCE IN
REAL ESTATE BUSINESS SERVICES
Why You Need Professional Bookkeeping & Accounting Services for Your Real Estate Properties
As a real estate investor, landlord or small business owner with real estate investments, you need to have organized and timely business services that will ensure that your property records accurately present your real estate activities and transactions.
Benefits to You
In addition to the legal requirement to have a proper set of financial records in place, there are a number of other operational and strategic benefits to having an optimal set of bookkeeping records together with associated accounting and advisory services in place for your real estate properties:
* Have the ability to keep track of key performance measurements like cash flow, profit/loss, and net worth.
* Draw comparisons about your growth (or lack of) from year to year.
* Attain direct management of your cash, to ensure you are able to meet your obligations.
* Obtain reliance on your ability to pay all of your bills and financial obligations on time as agreed.
* Analyze which rental properties perform better than others, allowing you to make optimal decisions with regard to selling or keeping each property.
* Determine whether or not certain business strategies are actually working to your advantage.
* Save time and lowering stress involved in finding the documents and information needed in the event of a Canada Revenue Agency audit.
* Benefit from the possibility of saving money on tax preparation because your tax preparers / advisor doesn’t need to bill you for time spent getting your information organized correctly.
* Access enhanced records that will assist and facilitate in the preparation of yearly tax returns without extra worry.
* Simplify the process of raising capital with lenders and partners through your financial statements and disclosure of past performance.
* Avoid Canada Revenue Agency tax penalties, interest or taxes determined to be payable, due to your inability to defend deductions claimed.
* Avoid late fees, penalties and interest from Canada Revenue Agency if your business is non-compliant in its business filings and payments.
* Affirm confidence that your real estate records are accurately and timely in place.
* Attain a sense of pride in your financial records and eliminate anxiety about their presentation.
* Have the ability to stop worrying about your business money and focus on making your business profitable!
* Feel confident that your business is receiving the ongoing support that it needs.
* Experience the benefits of having a professional team taking care of your real estate financial records.
Accounting & Compliance Services:
Bookkeeping & Accounting – being a property owner often requires a great deal of your precious time and focus. You won’t have to worry about your bookkeeping as we will take care of it in a timely and highly professional manner. In addition, with your real estate bookkeeping in order, it will make tax preparation seamless.
Compliance Filings – we explain and prepare what is expected of your company by Canada Revenue Agency for your company payroll source deductions, GST remittances and if you owe business tax installments. When your business files and pays what is required and on time, you will avoid problems with the tax authorities in the form of late fee assessments, interest and penalties for non-compliance.
Accounting Software Set-up – if you plan to take care of your own bookkeeping, we can assist with the proper set-up in Quickbooks, Sage or other system, both online and desktop versions. We also can answer questions on an as-needed basis.
Costs & Expenses – as a real estate investor you have a number of costs and expenses that need to be treated differently in order to minimize your taxes. Let us show you how.
Tax Preparation – as a real estate owner, you likely are aware of how tax laws effect your properties and how they may change. Our business is knowing which tax laws impact your properties and how to interpret them. We have a real estate team who can prepare both federal and provincial filings and they will advise about the tax laws that will minimize the amount of taxes that you pay.
Tax Planning – strategies can be put into place for both your individual, family and real estate properties in order to minimize the total taxes that you pay. You will have the least possible amount of tax liabilities while experiencing a maximum of profit and improvements to your cash flow.
Other Business Services:
Scheduled Meetings – these monthly or quarterly stay-on-track meetings are designed to review financial statements, monitor company progress, remit payments to Canada Revenue Agency and discuss any relevant matters to-date. Clients often like this as a “touch base” meeting where any new and ongoing business items, questions or concerns are discussed.
Establishing policies & procedures – managing your real estate properties takes organization. We can help you to establish policies & procedures that will be advantageous to the smooth operating of your real estate properties.
Year-end Services – the fiscal or calendar year-end requires your real estate taxes to be prepared and filed. Tax planning often also takes place at this time. We will liaise with tax planning and preparation advisors for your fiscal year-end.
Periodic Financial & Budget Reviews – you may be in need to help to establish a budget for your real estate properties or perhaps you require your financial statements to be reviewed. Both of these activities will help you to monitor your company performance and discover best operational and strategic options.
Contact us to learn how we can help you to be in control of your real estate finances – Click Here