Accounting and Bookkeeping Best Practices For Real Estate Investors
Welcome to a brand new expert Podcast interview.
Truthfully answer this; if your next money partner would come to your ‘office’ how would they feel? Inspired ready to write a bigger cheque, or running for the hills?
If you fall into the nightmare camp, this 2-part Podcast will start you on the path to creating the dream scenario, and hopefully taking back control of a potential mess.
I am affectionately calling this the ‘it depends’ Podcast Episodes because that is the term you hear the most when it comes to bookkeeping, tax, and reporting.In this in-depth interview, we cover the very ‘meaty’ topics as:
- How to organize your life and the cyclone of papers
- What are some simple and easy to implement best practices Real Estate investors can implement into your business to save you time
- Best reporting strategies, when reporting to your JV partners and CRA
- Structuring the bank accounts
- Differences between Income (P&L) and Capital Cost items.
… And so much more
Cherry Chan is a Real Estate specific accountant. Since 2003 she’s been providing tax tips for investors and realtors and helps them incorporate their portfolios.
Her accounting career began in 2003, working as a co-op student for a small accounting firm, working long hours and did my due diligence, completing over 200 tax returns in one season.
Now today, using all her resources and connections, she has dedicated her accounting practice and her blog so that all real estate investors, property managers, contractors, builders, and real estate agents may finally receive straightforward answers to all those confusing tax questions.
You can reach Cherry directly at her website https://realestatetaxtips.ca/
Podcast
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Part 1
Part 2
YouTube Video
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Russell Westcott
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