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Financial and Tax Strategies with Riley Norcross, CPA
Manage episode 446182919 series 3598552
İçerik Giuliana Pallotta, Broker Coldwell Banker Ronan Realty Brokerage, Giuliana Pallotta, and Broker Coldwell Banker Ronan Realty Brokerage tarafından sağlanmıştır. Bölümler, grafikler ve podcast açıklamaları dahil tüm podcast içeriği doğrudan Giuliana Pallotta, Broker Coldwell Banker Ronan Realty Brokerage, Giuliana Pallotta, and Broker Coldwell Banker Ronan Realty Brokerage veya podcast platform ortağı tarafından yüklenir ve sağlanır. Birinin telif hakkıyla korunan çalışmanızı izniniz olmadan kullandığını düşünüyorsanız burada https://tr.player.fm/legal özetlenen süreci takip edebilirsiniz.
If you're like me, navigating the world of taxes and accounting can feel a bit overwhelming, but today we're in for a treat. Our guest is here to bring clarity to all those complex issues. Meet Riley Norcross, a chartered professional accountant and the owner of Norcross Accounting, a full-service accounting firm based right here in Beeton, Ontario.
Key takeaways include understanding the differences between income tax and capital gains tax, strategies for estate and liability planning with trusts and corporate structures, and navigating the complexities of HST in commercial transactions. Riley also shares his personal journey and underscores the importance of support systems and persistence. This episode aims to demystify finances, offering actionable advice for long-term financial success in real estate.
00:00 Introduction
01:11 Meet Riley Norcross: Chartered Professional Accountant
02:38 Riley's Journey to Becoming an Accountant
03:50 The Importance of Support Systems
06:07 Starting and Growing an Accounting Business
09:16 The Role of Accountants in Real Estate Transactions
12:03 Understanding Capital Gains and Income Taxes
16:15 Planning for Financial Success in Real Estate
17:39 Benefits of Early Inheritance
18:23 Managing Capital Gains
21:40 Real Estate in Corporations
27:31 Understanding HST in Real Estate
30:55 Advice for Aspiring Investors
32:54 Conclusion and Final Thoughts
Connect with Riley here: https://norcrossaccounting.com/
If you found value in today's episode, please subscribe, leave us a review, and share it with your friends. Have a question or topic you'd love us to explore? Reach out to us on social media.
Giuliana Pallotta, Broker
Coldwell Banker Ronan Realty, Brokerage
https://www.facebook.com/pallottaproperty
https://www.instagram.com/pallottaproperty/
https://www.linkedin.com/in/giuliana-pallotta-048412b9
The content provided in this podcast is for entertainment purposes only. We are not offering professional, real estate, legal, or financial advice, and we recommend consulting with the appropriate experts before making any real estate decisions. Neither the host nor the guests or production company are liable for any actions taken based on this podcast.
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