As a successful real estate broker in Seattle's competitive market, Nina faced the common challenge of balancing business growth with the time-consuming intricacies of financial management. As her real estate business grew, she became increasingly bogged down by the administrative burden of managing both personal and business finances.
Here’s where the friction arose:
Nina partnered with Formations to consolidate all her financial needs into a single, streamlined solution. Formations provided:
The most significant impact came through a cost segregation study that Nina didn't even know existed. When she purchased an investment property, Formations proactively identified this opportunity during their regular check-ins.
“Whenever I have a big life moment — buying an investment property, getting a large paycheck, or even going through a divorce — I reach out to Formations to make sure I'm thinking ahead,” Nina explains. “When I bought the second property, they immediately suggested a cost segregation study and showed me how I could deduct more from my taxes upfront.”
While traditional CPAs may recommend a cost segregation study, the burden typically falls on the individual to find a provider and take action themselves.
Here's how the process was different with Formations:
"They broke everything down so it was easy to understand and digestible," Nina notes about the team's ability to explain complex tax strategies in approachable terms.
Beyond the substantial tax savings, Nina gained something equally valuable: time.
"The amount of time I get back and the convenience of having everything in one place — the bookkeeping, the payroll, and taxes, personal and business — gives me back the time to spend on actually running my business," she explains.
Nina describes the greatest value as having a trusted advisor always available: "It's like having a mentor available whenever you need them about the things that you don't know or don't understand."
With a team dedicated to her success, she can focus on her clients and rest easy knowing that any financial opportunities will be proactively presented and addressed by expert professionals.
Nina has recommended Formations to several colleagues, citing the comprehensive nature of the service:
"I don't know any other accounting firms that offer personal taxes, business taxes, payroll, and bookkeeping all under one umbrella. Usually, you have to go to different places to have all of that done, and then tax season comes and you're trying to get all the information together."
The convenience factor is crucial for busy real estate professionals: "Having one place for everything to be managed is so incredibly powerful when you're trying to sell real estate. I don't want to have to deal with bookkeeping or making sure payroll was running and that the correct amount of taxes was taken out. I'm grateful to have a team of experts do that and make it as easy as possible."
Through her partnership with Formations, Nina has achieved:
For real estate professionals and self-employed pros looking to optimize their financial management while focusing on growth, Nina's experience demonstrates the impact of partnering with a comprehensive financial services provider that combines expertise, technology, and personalized service.