Should You Buy Property Just Because It’s A Good Deal?
With all the great deals we are being inundated with coming from the United States, the pressure is on to figure out the best real estate investment strategies while the deals last. Ken Davidson, local Kelowna accountant, gives his insights on assessing the quality of a “great deal” in real estate.
We have all seen and heard about the great deals coming from south of the border but is buying that property really what you want to do?
Whatever you do, you always have to make sure that it’s still a good business decision on your behalf. I have… Continue reading
Posted in Real Estate Investing | 
BDO Canada, Chartered Accountant, due diligence process, getting a great deal in real estate, Kelowna Accountant, Kelowna accountants, Kelowna accounting firm, Kelowna business, Kelowna businesses, Ken Davidson, real estate investing, real estate investment strategies, Strategic business review, the motivated seller | Leave a commentWhat You Need to Know When Buying Your First Investment Property
Kelowna accountant, Ken Davidson, offers some advice to new real estate investors looking to purchase their first investment property.
When you are making the decision to invest in real estate and purchase your first investment property, you’ll quickly discover that it’s much more complex than anyone initially anticipates. There are so many decisions that need to be made and the success of them all rests on your ability to make sound judgments that will pan out long term.
Where Do You Want To Go?
Once you know where you are headed, then you can start to find the stepping-stones to… Continue reading
Posted in Real Estate Investing | BDO Canada, buying property, Chartered Accountant, first investment property, invest in real estate, Kelowna Accountant, Kelowna accountants, Kelowna accounting firm, Kelowna business, Kelowna businesses, Ken Davidson, moving investment properties, property transfer fees, real estate investment presentations, real estate investments, real estate investors, Strategic business review | Leave a commentThe Dirty Truth About RRSP Contributions For Business Owners
Kelowna accountant, Ken Davidson, gives advice on RRSP contributions for business owners.
I generally don’t recommend RRSP contributions for business owners because of the restrictions in the investments that can be made within an RRSP and that the minimum amounts that have to be withdrawn in retirement are out of your control. What I recommend for business owners is to have a holding company for their investments and they can hold the exact same investments that they hold in their RRSPs, if that’s what they want to invest in.
The business owners do not have to withdraw cash from… Continue reading
Posted in Accounting, Taxes and Finance | BDO Canada, canadian pension plan, Chartered Accountant, cpp, cpp contributions, david sung, Kelowna Accountant, Kelowna accountants, Kelowna accounting firm, Kelowna business, Kelowna businesses, Ken Davidson, nicola wealth management, no rrsp strategy, rrsp, rrsp contributions for business owners, rrsps for business owners, small business owners, Strategic business review, tax act, tax free dividends, vancouver sun | 1 Comment3 Tips For Quickly Increasing Cash Flow
Kelowna accountant, Ken Davidson, gives a few tips to entrepreneurs that will quickly help them with increasing cash flow in their business.
Obviously increasing cash flow in your business is extremely important. Without enough cash flow, you’re going to have problems. The businesses that generally run into cash flow issues are those that require significant amounts of inventory. For example, the service industry very rarely tends to have a cash flow problem other than collections.
Come to think of it, let’s talk about collections because that is the first way you can start increasing cash flow.
Are You… Continue reading
Posted in Business Growth | accounts receivable, BDO Canada, canada revenue agency, cash flow, cash flow issues, cash flow problem, Chartered Accountant, CRA, GST, HST, increasing cash flow, Kelowna Accountant, Kelowna accountants, Kelowna accounting firm, Kelowna business, Kelowna businesses, Ken Davidson, negotiate payment terms, payroll tax, rules of payment, Strategic business review, understand how cash flows | Leave a commentHow Do I Know If I’m Paying Too Much Tax?
Here is a question I received recently via email. It’s a popular one for every Kelowna accountant so I suspect that many of you will find this helpful in clarifying the process. The timing is excellent, to say the least.
A business owner needs to challenge their advisor to look at their current structures and review it based on tax reasons. Remember that you can’t make all business decisions based on tax alone. In fact, most structures and business decisions are not made because of tax reasons at all.
Quite simply, the easiest way to ensure you aren’t paying too… Continue reading
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