Accounting and business advisory services for real estate & construction companies in Burlington, Oakville & Hamilton

The construction and real estate industry is constantly changing, and it’s important to have someone who can help you navigate these changes. From new regulations to shifts in the industry itself, to ensuring that you’re following the right procedures, it can be hard to keep up. That’s where our CPAs come in to help businesses like yours navigate the complex world of accounting and tax laws. 

Our team of chartered professional accountants:

• Understand the unique accounting challenges of your industry, including sales tax compliance and employee payroll taxes
• Make sure your company is compliant with federal laws and provincial regulations that apply to your industry
• Understand the best practices for tax planning so that you aren’t paying more than you need to in taxes each year

We know how important it is to work with professionals who understand your industry and its challenges, which is why we work hard to understand your goals so that we can help you achieve them.

In a coordinated and uncomplicated way, we’ll help you identify and understand opportunities to increase returns on job costs, maximize your tax efficiency and establish a business management structure that complements your business — no matter what stage you’re at or how big or small your operation may be. 

We offer customized solutions tailored to your operational needs and work environment. Working with us can save you time, maximize your ROI and improve profitability.

SB Partners real estate and construction accounting services include:

• Tax planning and tax compliance services
• Optimizing your company’s corporate structure
• Developing working capital management strategies
• Cash flow analysis
• Operational performance reviews and process improvement
• Inventory accounting construction materials and equipment
• Business overhead and marginal cost review and analysis
• Subcontractor and job order costing
• Fixed-price consulting contracts
• Project management review
• Profit enhancement strategies
• Tax credit possibilities
• Financial analysis and reporting
• Strategic business advisory services
• Succession and estate planning
• Risk management and security reviews

We’re innovative decision-makers, business-minded thinkers, and financial professionals that work with you to run your company and provide accounting solutions so that you can spend more time interacting with your buyers and sellers.

The following are some of the related costs of building acquisition that should be capitalized and included in the original cost of land:

• Commissions paid to brokers
• Purchase price or original contract
• Closing costs include items such as title searches and attorney fees
• Lien or mortgage assumption
• Filling, grading, draining and clearing
• Real estate surveys
• Cost of demolition

In general, a payment is deductible if it is done to gain or create revenue from a business, is not on account of capital, is not a personal cost, and is fair in the circumstances. In addition to all of the typical expenditures including:

• Advertising and marketing
• Car expenses
• Meals
• Monthly brokerage fees
• TREB/RECO/CREA dues
• Cost of gifts or cash given to purchasers by an agent

These expenses may be deducted as a general business expense if certain requirements are met. A real estate agent should keep accurate records of meals, car expenses, and gifts. These are necessary for any audit and are used to substantiate the reported costs.

Once a property is constructed or kept for resale, it is often regarded as inventory in real estate. Inventory valuation is critical because it can have a major influence on net profitability year after year.