Westcourt | Family Business Accountants

The DuPont Formula The Ratio Your Family Business Can Run On Every business owner must make sense of complicated and uncertain businesses environment world with numbers, equations, legislation and complex tax regulation. If you have a family business then you need to understand accounting as well. The numbers in your business is the way your business talks to you.  You need to keep accurate financial records and produce financial statements for reporting taxes – but you also need a simply way to understand how your business is talking to you. Accounting may be confusing, but what if we told you that there was a universal figure, a simple number that can shed light on how your business is running? While it may sound too good to be true. There is indeed a number that can provide insight into how efficient your business is running and that number is the result of the DuPont Formula. What is the DuPont Formula? The DuPont Formula was developed in 1912 by Donald...

Owning rental properties is a great way to accumulate long lasting wealth, while at the same time diversifying your investments. Investing in real estate can provide solid returns. However, real estate investing is not about making money fast. Investing in rental real estate is an excellent way to build long-term wealth for you and your family. Investing in rental properties isn’t without risks. Therefore, it’s essential to correctly plan your family’s property portfolio. What is a property portfolio? A property portfolio is a collection of real estate and property investments that are owned by an individual, a company, a trust, partnership, or a combination. However too often people will jump into the asset structuring of a property portfolio.  And while that is incredibly important the purchase needs a lot more thinking and planning to get a great outcome towards your family and the legacy you want to create. Planning your property portfolio Before you begin bu...