Kelowna accountant, Ken Davidson, offers a few best practices when setting up new real estate investments.
Are you a real estate investor who wants to be sure that you set up your investments the right way? It is essential that your plan involves ensuring you are protected personally, your investments are protected, and you are taking advantage of all possible tax savings and advantages?
For many real estate investors that are purchasing apartments, commercial properties and multi-family homes I suggest a high level of protection from liability in a three tier system.
A three tier system… Continue reading
Question from a Reader: As a business owner should I take a wage or dividends?
As far as I’m concerned, there are very few reasons why a business owner should take a wage. When I say this I’m referring specifically to business owners that have incorporated their business, because it’s a whole different situation if you’re a sole- proprietor.
All of my clients earn dividends rather than wages but the question is why? There are a couple reasons why this is works to your… Continue reading
Kelowna Accountant Ken Davidson Answers Your Questions
I’m sure I’m not the only Kelowna accountant who has been asked this question many times before and it’s not as cut and dry as you might think. As much as I would love to dive into relationship dynamics at the workplace, ahem, I’m going to maintain a perspective based on financial benefit to help you make a more informed decision rather than an emotional one.
If you have a spouse or partner that is not active in the business, please do not pay them wages. Wages are for people who are active… Continue reading