If you’re a realtor or own a construction company, you know how hard it is to manage your business while keeping up with works in progress, subcontractors, market pressures and labour challenges. We provide a full range of accounting solutions and services for your real estate or construction business. We’re here to make sure that you have the tools and information you need to succeed—and that you’re on top of all your financial obligations.
At SB Partners, we understand that running a business isn’t always easy or straightforward. That’s why we offer customized solutions that are tailored to your specific needs and goals—whether it’s managing cash flow or streamlining your payroll process, we’ve got the experience to help you take care of all your needs.
Our team can help you navigate the world of real estate and construction accounting.
Why Work With a CPA That Specializes in the Real Estate and Construction Industry?
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.
Our real estate and construction accounting services can help your company:
- Develop profit enhancement strategies
- Manage cashflow and payroll
- Preserve and gain capital
- Make use of energy efficiency incentives
- Support with litigation and estate freezes
- Financing Projects
- Regulatory and leasing reporting
Our team has experience in many aspects of real estate and construction including:
- Bonded warehouses
We want to help you today to meet your goals tomorrow. Get in touch now!
How SB Partners optimizes real estate & construction company’s corporate structure
In addition to the professional services you would expect from a CPA, we assist our customers with a variety of services that position them for success. Here’s how it works:
- Quick financing for capital investment: we develop comprehensive financial projections to show you the impact of presented opportunities and the related cash flow to be generated. This will determine whether you can viably meet your financing while continuing to grow your business.
- Data tracking: we assist companies and property managers in keeping their accounts up to date and accurately logging information. This is critical for planning, evaluations, and tax preparation to ensure you’re not missing out on significant insights that can help drive major growth.
- Income splitting: we specialize in income splitting techniques while adhering to the guidelines of the Income Tax Act. Our team of accounting professionals can help you structure a plan that will allow you to reduce your tax liability, while still complying with all regulations.
Create solutions that help you make informed decisions about your finances and operations so that you can focus on what matters most: growing your company.
Our Accounting Services for the Real Estate and Construction Industry
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
- 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.
Talk to our team about your business needs today!
Construction & Real Estate Case Study
A client operating in the construction industry had a sudden opportunity presented to them that required a significant upfront capital investment. The client had very little time to react to seize the opportunity and needed to obtain quick financing for the capital investment.
Seized the opportunity by developing a comprehensive set of financial projections for the company showing the impact of the opportunity and the related cash flow to be generated to service the financing commitments related to the capital investment.
The client obtained the necessary financial and capital equipment to obtain the contract resulting in doubling the client’s business over the following year.
Who We Work With
SB Partners Real Estate & Construction Practice Group aggregates experience over time and from very different enterprises to provide tailored guidance to each client. We work with:
- Land Developers
- Corporate Occupiers
- Foreign and Domestic Investors
- Architects and Engineers
We can help
Contact us today to learn how our team of real estate and construction industry professionals can help your business succeed!
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
- 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.