Best Practices When Setting Up Real Estate Investments
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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
Posted in Real Estate Investing | 
acquire assets, BDO Canada, Chartered Accountant, commercial properties, dividends, holding company, Kelowna Accountant, Kelowna accountants, Kelowna accounting firm, Kelowna business, Kelowna businesses, Ken Davidson, property management group, purchasing apartments, real estate investment, real estate investment plan, real estate investments, real estate investor, setting up new real estate investments, setting up real estate investments | Leave a commentWages Vs. Dividends Income For Business Owners
Kelowna accountant, Ken Davidson, answers your questions on accounting, business growth strategies, start-ups and more.
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
Posted in Accounting, Taxes and Finance | BDO Canada, Business Growth Strategies, Business Owner, canadian pension plan, Chartered Accountant, cpp, dividend sprinkling, dividends, income splitting, Kelowna Accountant, Kelowna accountants, Kelowna accounting firm, Kelowna business, Kelowna businesses, Ken Davidson, rrsps, Strategic business review | 1 CommentCan I Pay My Spouse That Doesn’t Work In My Business?
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
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