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A Wealthy Life


Feb 15, 2024

 

Join me as I welcome Sean, a property tax accountant with a wealth of knowledge for expats and investors alike.

 

In this episode, we tackle the crucial steps for cultivating a productive partnership with your accountant, steering clear of the dreaded year-end frenzy.

 

Listen in as Sean shares the secrets to modern accounting methods, such as the beauty of real-time bookkeeping and the transformative power of cloud accounting platforms, which can reshape how you make timely business and tax decisions.

 

Talking through the accounting services, this discussion illuminates the shift towards a monthly fee model and how it benefits your business.

 

With the expertise of Sean, we look into how this approach provides constant access to your financial performance, fostering a strong relationship with your accountant and ensuring that you're poised for proactive financial management.

 

We also discuss the significance of choosing the right service package and the strategic value of having a business plan, so that you can measure progress and adapt swiftly to meet your targets.

 

We touch on various topics from the convenience of separate bank accounts for property investments to the ethics of tax evasion and VAT considerations as well as the best practices for handling Director's Loans and discuss the pros and cons of company versus personal investment structures.

 

For anyone invested in property, this episode is full of insights and strategies, all designed to keep you on the right side of the ledger and ahead of the game.

 

 

--------- EPISODE CHAPTERS ---------

 

(0:00:09) - Improving the Relationship With Your Accountant

(0:11:43) - Accounting Packages and Communication Importance

(0:21:27) - Managing Separate Bank Accounts for Properties

(0:25:26) - Managing Expenses and Business Deductions

(0:41:19) - Tax, VAT, and Director's Loans

 

 

Connect with Vicki:

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Listen to the full episode on YouTube: https://youtu.be/7czGciyeXRg

Booking calendar - https://calendly.com/vickiwusche 

Access the free resources: https://vickiwusche.com/resources/

 

Has this podcast started you thinking about what A Wealthy Life might look and feel like for you?

 

Why not spend another 3 minutes and take my online audit called Readiness to Retire Wealthy based on the five principles discussed in The Wealthy Retirement Plan book and episodes of this podcast?

 

The assessment provides you with a personal score and report to help you take back control of your financial future – something business owners and employees both forget – but for different reasons.

 

Browse Books by Vicki:

Using Other People’s Money: How to invest in property 4th edition 

Make More Money from Property: From investor thinking to a business mindset 2nd Edition 

Property for the Next Generation: Securing your future in uncertain times 2nd Edition 

The New Estate: Insights from the 22nd century 

The Wealthy Retirement Plan: A revolutionary guide to living the rest of your in style 

 

Or read the following Ebooks on VickiWusche.com: 

9 Critical Property Principles 

The De-Job Yourself Manual: Break your reliance on a monthly wage 

The Values Manual: Understand what your values are and how they can be key to a successful business  

The Goal Setting Manual: Create meaningful and practical goals then achieve them