In recognition of our clients’ need for timely information, and to be completely prepared for tax reporting to Costa Rica and home countries, the Summerland Group created its own secure, 24/7, on-line accounting system with the assistance of Gold Coast Support. All client expenses and income, incurred over the life of an investment, are entered into the system and automatically categorized for tax purposes. Reports may be generated with views based on the timeframe, category of expense or asset, Summerland Group company that incurred it, tax category in which it falls, as well as customized studies.
The system also calculates a consolidated client account balance across all activities including interior design, property management, vacation rentals, association assessments, real estate sales, and client deposits. This is very important to the timely monitoring of available balances for payment of monthly expenses or possible transfers of surpluses to clients.
The Summerland Group created a special relationship with Costa Rica’s government insurance monopoly, the Instituto Nacional Seguros (INS), to provide our clients with expanded insurance coverage and discounted premiums. Summerland Insurance Agency uses this special relationship and the market power of group purchasing to provide as much as a 15% discount on premiums along with hazard coverage that exceeds standard, individual policies in important ways.
Take me to the detailed discussion of insurance coverage
The Summerland Group created a special relationship with the global accounting firm of Deloitte for our clients in Costa Rica. Our clients receive the advice of Deloitte, professionally prepared Costa Rican tax returns and home country schedules, and have the assurance that all Summerland Group accounting is done in accordance with Costa Rican law and ethical business practices. The www.SummerlandFinancial.net website allows Deloitte to review our client accounts on-line to confirm the accuracy and correctness of entries, and to evaluate tax positions throughout the year. This fully-integrated, investor financial and tax reporting system is the first of its kind in Costa Rica.
As with Summerland Insurance Agency, the power of group purchasing, combined with the efficiencies provided in an on-line accounting and communication system, allows the Summerland Group to provide this service to our clients at a substantial discount over individual accounting relationships clients might have with firms like Deloitte.
I want to discuss tax preparation for my real estate investment
Summerland Financial is a member of The Summerland Group, Costa Rica’s most complete and vertically-integrated service organization helping real estate investors, visitors, and anyone seeking to add Costa Rica to their life. Visit www.summerlandgroup-costarica.com to see the entire family of Summerland Group companies.
The Summerland Group of companies is committed to eliminating discrimination, welcoming diversity, and promoting equality, fairness, truth, respect, and justice. These goals are reflected in their policies, practices, procedures, and all interactions with others. This applies to clients, guests, staff, partners, professional peers, consultants, vendors, and all other third parties. The Summerland Group of companies intends to treat everyone equally and with same attention, courtesy, and respect - regardless of their gender, marital status, race, racial group, color, ethnic or national origin, culture, citizenship, religion or beliefs, disability, age, sexual orientation, health condition, and/or employment status.
