Episode 81: Is Your Accountant Doing ENOUGH

The On Purpose Investor

Is your accountant actually doing enough? In today's episode of the On Purpose Investor Podcast, our hosts Eric and Tiffany tackle the important question: Is your account doing enough? Together, we unravel the financial complexities of real estate investing, highlighting the crucial roles of accountants, bookkeepers, and CFOs.

Tiffany, who is a Georgetown graduate with a master's degree in finance, emphasizes the significance of strategic financial planning over mere historical data analysis. This conversation is a must-listen for anyone looking to scale their real estate investment endeavors intelligently and sustainably.
Key Takeaways from this Episode:

• The role of an accountant is to provide a historical look at your business and help with tax preparation and strategy. However, to truly succeed, businesses need a financial view that goes beyond what accountants typically offer.
• Hiring a bookkeeper becomes necessary when managing multiple properties, as they can categorize transactions, reconcile accounts, and generate management reports, providing a clear financial picture for the accountant to work with.
• Building a system around your finances is crucial for maximizing returns, minimizing taxes, and making strategic decisions. Consider investing in a financial starter kit or seeking the guidance of a fractional CFO to ensure your business is set up for success.

Links from this Episode:

• Tiffany introduces the Financial Starter Kit Class to assist new investors in mastering their finances. This essential guide covers easy tax preparation, understanding financial statements, and achieving clarity. You can find it on our website at onpurposeinvestor.com under the "Work with Us" section.
• If you're interested in learning more about Tiffany's CFO services and how she can help you with your finances, visit her website Insights CFO Services. Take the next step towards financial clarity and success in your business!

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Visit www.onpurposeinvestor.com/levelup to learn more about our monthly membership program that gives you immediate access to everything OPI has to offer.
Subscribe to our channel for more financial tips and investment advice to help you make the most of your entrepreneurial journey. Don't miss this opportunity to broaden your financial horizons!
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Purchase your copy of “The Pathfinder's Journey: The Key to Your Dream Life Through Real Estate Investing” at www.onpurposeinvestor.com/books
About Us:
Eric and Tiffany Vogel are real estate investors and founders of www.onpurposeinvestor.com. Four years ago, they began their real estate investment journey together after just one year of dating – before they even got married! They bought their first property with an FHA loan and zero equity. Each of them has a unique set of strengths that they bring to their partnership.
Join us each week for another episode full of tips, tricks, and methods to achieve financial success and stability.
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Tiffany's Email: [e-mail]