Archive for the ‘tax’ Category

10 key lessons for real estate investors on capital vs income when arguing with the CRA: From intention to integrity

Posted on: March 26th, 2016 by Real Estate Accountants No Comments
CRA court case - a real estate accountant provides perspective

Selling a property is an opportunity for you as a real estate investor, but can also be an opportunity for the Canada Revenue Agency (CRA). A recent court case revolving around capital vs. income provides an interesting case study for real estate investors with 10 key lessons, including those on intention, integrity, and reliable records […]

6 tips for real estate investors to make tax season pain-free

Posted on: February 28th, 2016 by Real Estate Accountants 1 Comment
Personal taxes for real estate investors: Tips from a real estate accountant

As a real estate investor, the time has come to cast your thoughts back to the past year, and work with your real estate accountant to get your personal taxes completed on time. But, are you sure that you are getting all possible deductions that are reasonable? Do you understand the implications for capital cost allowance […]

4 tips to reduce taxes and stress for the New Year

Posted on: January 12th, 2016 by Real Estate Accountants No Comments
New year - less stress, less tax

Now that 2016 is off to a great start, the time is perfect to take a few moments and review some of the basics of your foundation as a real estate investor and business owner. Getting back to basics can save you time, money, taxes, and stress, and a good real estate accountant can help. Here are […]

Paying cash – Underground economy crackdown

Posted on: December 7th, 2015 by Real Estate Accountants No Comments
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Cash payments “under the table”? Requests from tenants or tradespeople to accept cash while running your real estate investing business? The underground economy is thriving in Canada, and the Canada Revenue Agency is focusing on what Statistics Canada estimates is 1.3% of Canadian GDP. And, who do you think that they are targeting? Likely industries, […]

CCA – Creating a loss on a rental property? Not so fast

Posted on: November 26th, 2015 by Real Estate Accountants No Comments
Rental property

To claim capital cost allowance (CCA) or not claim to CCA is one of the perennial questions we receive as real estate accountants. Aside from the debate about whether or not to claim CCA, some specific rules exist about when you can and can’t claim it. (For details on CCA itself, see Claiming capital cost allowance […]

Accounting for buy-and-hold real estate investments

Posted on: September 15th, 2015 by Real Estate Accountants 7 Comments
Door on a home

Buy-and-hold real estate investing has its own unique set of tax and accounting rules. As discussed in articles on flipping properties, and rent-to-owns, using the proper structure is critical. Think of this as a short primer on those rules, and how they may affect your taxes as you plan your real estate investment business with […]

Accounting when flipping real estate investments

Posted on: September 8th, 2015 by Real Estate Accountants No Comments
Tools to renovate

The tax rules surrounding flipping properties, unlike rent-to-owns, as described in a previous article, are slightly more straightforward. But, using the proper structure is still critical. Think of this as a short primer on those rules, and how they may affect your taxes as you plan your real estate investment business with your real estate accountant and […]

Accounting for rent-to-own real estate investments

Posted on: August 26th, 2015 by Real Estate Accountants 15 Comments
Handing you the keys

The tax rules surrounding rent-to-own (RTO) real estate investments provide an insight into the complexity of the Canadian Income Tax Act and illustrate why having the right advice, and using the proper structure, is critical. Think of this as a primer on those rules, and how they may affect your taxes as you plan your […]

Understanding GST/HST Housing Rebates

Posted on: July 1st, 2015 by Real Estate Accountants 2 Comments
GST/Housing Rebate

GST/HST tax is an area where real property owners and sellers have many questions. “With increased property values, HST is becoming a bigger issue on the sale of real property, including farmland.  See the referenced article for some of the issues to consider when buying or selling real property,” says Scott Merry, CPA, and Senior Manager […]

Behind on filing your taxes? Time to make a plan

Posted on: June 3rd, 2015 by Real Estate Accountants No Comments
Get caught up on tax filings

Over the years, we have fielded many questions and concerns from real estate investors, business owners, and other clients who, sometimes sheepishly, sometimes fearfully, have approached us to say that they are behind on their tax filings. I always start this conversation with “You are not the only one”. Approximately once a month we have […]