Pros and Cons: Property management corporations for real estate investors

Posted on: April 21st, 2015 by Real Estate Accountants No Comments
Property Management Corporations

We often get requests to set up a property management company for our real estate investor clients, even when they only manage properties that they own. Before leaping head first into creating the company, we examine the reasons for the company, and review the pros and cons of setting up the management company. We were […]

Video: Beating the tax time rush

Posted on: March 31st, 2015 by Real Estate Accountants No Comments

Check out the perspective of George Dube on personal taxes as seen on the Kitchener CTV News, and the value that an accountant can add not just for today but for the future. CTV News: Beating the Tax Time Rush

Resolution to purge the paper?

Posted on: March 22nd, 2015 by Real Estate Accountants No Comments
Purging paper and shredding old records

One of our frequently asked questions is “when can I get rid of all this paper?” Great questions, and one where you need to know the rules before getting into trouble with CRA. We were pleased to be featured in the Real Estate Investment Network’s January REIN Real Estate Report, where we answered this very […]

Analyzing your Financial Statements

Posted on: March 15th, 2015 by Real Estate Accountants No Comments
Analyzing your Financial Statements - REIN Real Estate Report

Analyzing the numbers is a key skill if you’re a business owner, and real estate investors are no different. Learning how to read the numbers on your financial statements, and apply those to business decisions, is the focus of our article in the Real Estate Investment Network’s February REIN Real Estate Report. Read the full article here: […]

Internet income – time to start reporting

Posted on: February 15th, 2015 by Real Estate Accountants No Comments
Business activities via the internet

Corporations and self-employed individuals are now required to disclose any internet business to the CRA. This disclosure requirement was first introduced for the 2013 tax year however, the CRA revised the filing deadlines after the initial release of the form. For corporations, you are now required to include Schedule 88 with your corporate tax return […]

Announcement: Dube & Cuttini LLP merges with BDO Canada LLP

Posted on: December 15th, 2014 by Real Estate Accountants No Comments

We’re about to get a whole lot bigger! We’re pleased to announce that on January 1, 2015, Dube & Cuttini LLP will merge with BDO Canada LLP, one of the leading accounting and advisory firms in the country. In BDO, we have found a like-minded entrepreneurial partner that is looking for specialized expertise to grow […]

Capital Gains during the year? Consider selling losing stocks to offset the gains

Posted on: December 14th, 2014 by Real Estate Accountants No Comments
Offsetting capital gains, superficial losses

Have you experienced a large capital gain in 2014? Sold some property, or some good, non-registered investments? If you can sell some poor-performing stocks before the end of 2014, it is possible to offset the gains with the losses. And, even better, the losses can then be carried back for three years against capital gains, […]

Using corporations with real estate investments: Flips, RTOs and buy and holds

Posted on: December 8th, 2014 by Real Estate Accountants No Comments

We often get these two fundamental questions from real estate investors: Is it important to have separate corporations for rent to owns (RTOs) and flips vs long-term holds for our real estate investments? What happens if the property changes from one category to another? These questions answered, plus many other questions from the audience for […]

Rev N You with Real Estate: Joint Venture Real Estate Deals with International Investors

Posted on: November 5th, 2014 by Real Estate Accountants No Comments
International JVs

George Dube was recently asked by Julie Broad of Rev N You with Real Estate  to answer the question of: What advice you have for doing a JV on a property in Canada with people who do not live in Canada (aka working with international investors)? The answers may surprise you:  Joint Venture Real Estate Deals […]

Failed to report income on your tax return again? Be prepared for steep penalties

Posted on: October 29th, 2014 by Real Estate Accountants No Comments

Did you know that if you forget to report income on your personal tax return in one year and then accidentally repeat in the next 3 years following, the CRA will charge you a penalty of 20%? Yes, that’s right, 20%. How is the penalty determined? This is how it works: If in 2010, 2011 […]