For a real estate business, managing effective cash flow and getting the maximum benefit out of it isn’t a natural random practice; instead, it is considered the major key indicator for thriving in the industry. Managing cash flow in real estate is really important for steady growth. It lets investors
Tips & Resources
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If you think property management is secondary, you need to rethink. Such management is super important because it tells you the right amount each property is actually making. If you don’t have solid property management accounting in place, well, you might overlook some important financial details. This can lead to
Running a business means tackling every challenge alone, and this includes having a good knowledge of accounting, taxes, and related material. For those in real estate, one super important skill is figuring out how to read a profit and loss statement. This isn’t just some boring document filled with numbers
Many people confuse rental income with property sales, even though they differ. Although they may seem similar at first glance, they are pretty different in how they generate cash flow and are recorded in real estate. Understanding these differences is super important for those involved, such as property investors, accountants,
Should you incorporate as a Limited Liability Company (LLC) or a Corporation? Realtors in Calgary often work as independent contractors, which means they have to make big decisions about how to structure their business. While LLCs are popular in the U.S., they aren’t an option in Canada. Instead, Canadian realtors
Few things are more stressful than receiving a CRA late filing notice letter. If you’re a Canadian realtor who missed a tax deadline, the Canada Revenue Agency (CRA) may send you a notice demanding immediate action. Ignoring it can lead to hefty penalties, interest charges, and even further audits. So,
If you’re a realtor and just received a CRA late filing notice letter, don’t panic—but don’t ignore it either. Late tax filings can lead to penalties, interest charges, and even a deeper review of your finances. The good news? You can take action now to minimize the damage. Here are
If you’re a Calgary realtor, tax season comes with its own unique set of challenges. From juggling self-employed income to managing multiple deductions, the process can feel overwhelming if you don’t stay ahead of the game. Add in the importance of meeting CRA deadlines, and it’s no wonder tax season
If you’re a realtor in Canada, you know that managing your commission income can feel like a juggling act. Between splitting commissions with your brokerage, tracking expenses, and figuring out tax deductions, staying on top of your finances can get overwhelming—fast. So, how do you make it easier without hiring
Managing your finances as a real estate agent can sometimes feel like trying to untangle a mess of earbuds—you’re constantly questioning which wire goes where. If you’ve ever found yourself sorting through receipts, wondering which expenses are business-related and which are personal, you’re not alone! This is especially common for
As a self-employed realtor, navigating taxes can feel like stepping into a maze. While most of us are aware of the big-ticket deductions like mileage and office rent, many realtors miss out on smaller expenses that could add up to significant tax savings. If you’re operating in Calgary or beyond,
If you’re a real estate agent in Canada, you likely spend plenty of time working from home—whether it’s crafting listing descriptions, responding to emails, or managing client documents. The good news? The Canada Revenue Agency (CRA) allows you to deduct home office expenses if you meet their requirements. But are