Since the great recession, we’ve seen our collective faith in real estate. Real property, however, remains a cornerstone of the economy. By extension, the success and future of all businesses whether directly or indirectly rely on it. Accountants for real estate professionals should understand best practices for this industry. And Business & Financial Solutions does.
Increasingly, real estate companies, brokers, and entrepreneurs are turning to more affordable and higher quality accounting services. We are called upon to manage their bookkeeping, resolve their tax situation (or questions), and to help keep the “little pieces” from falling through the cracks. And this allows agents to focus on what really matters to them: real estate.
Real estate accounting is no different than any other form of financial management. Except, the need for precision can be that much greater. This is because of the sheer value that is more likely to be involved. However, the proper business and entity structure is essential when it comes venture capitalists.
Look at the facts, the majority of self-made billionaires in the United States utilized real estate in their upward journey…
A good real estate accountant (like the team at Business and Financial Solutions) will ask specific questions.
What are your real estate goals?
-If you’re an investor, are you purchasing property inside of an IRA (with a self-directed IRA)? Or are you doing it with your own funds?
-If you’re a real estate flipper, do you have a real estate business plan? How will you regard the money on each flip and stay competitive?
-If you’re a real estate entrepreneur of any type, do you have good reliable accounting in your corner you can count on for logistical, business planning, and tax related issues?
Taking a look at what you want to achieve, what you’ve been able to accomplish so far, and where you want to take your career or your company are important and BFS can help you examine those questions and more.
An Economy of Time for Real Estate Agents
Always on the go and with little time to spare, a modern real estate agent has precious spare time to do the bookkeeping, financial management, and tax considerations that a real estate accountant excels at. Let us handle the day-to-day numbers so you can spend your days making those numbers grow.