In this episode of Canadian Investing in the US, Glen Sutherland welcomes back CPA Kristopher McEvoy for another installment of their monthly accounting Q&A series. Kristopher, a Canadian accountant based in Fonthill, Ontario, specializes in cross-border taxation and real estate investing. He tackles a key question from investors: when should you start using QuickBooks Online (QBO)? While newer buy-and-hold investors may get by with spreadsheets initially, Kristopher explains that investors with more complex operations—like flips or BRRRRs—need proper systems early on to track profitability and stay tax-compliant.

Kristopher emphasizes that accounting software like QBO not only helps with tax filing but also enables better business management through automation, delegation, and financial reporting. He highlights the unique nuances of real estate bookkeeping, such as capitalizing interest during renovations and correctly categorizing repairs vs. improvements. For growing investors, Kristopher’s firm, LEAP ACT, offers flat-fee bookkeeping services that scale with volume, making it especially valuable for those managing multiple deals. Listeners can connect with him at leapACT.ca and are encouraged to mention the podcast when reaching out.