Posts Tagged ‘real estate accountant’

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 […]

Q&A: Is HST applicable on a rental property if commercially zoned but all units are residential rentals?

Posted on: January 28th, 2016 by Real Estate Accountants No Comments
Cash

Question: We are investigating the purchase of a rental property in an Ontario town, and have a quick question about the HST. The property is presently set up as four residential rental units, but it is zoned commercial. From conversations with the city, apparently the property is to include three residential and one commercial unit. If […]

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 […]

Q&A: When do I move my properties to a corporation?

Posted on: October 25th, 2015 by Real Estate Accountants No Comments
Predicting the best solution for moving personally owned properties to a corporation.

One of the number one questions we get as real estate accountants from investors, after “should I incorporate?”, is “should I move my personally held real estate to a corporation?” Our clients want to know if they should be making this decision based on number of properties, amount owing, liability risk, or something else completely. The […]

Accounting for buy-and-hold real estate investments

Posted on: September 15th, 2015 by Real Estate Accountants 5 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 9 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 […]

Minimizing the tax implications for a seller to get a property deal working

Posted on: August 3rd, 2015 by Real Estate Accountants No Comments
For Sale

How can we minimize the tax implications to a seller of a property in order to make the deal work for them? To start, you can offer to pay the vendor less to save them taxes! Presumably the vendor will not be keen on this idea, so you’ll need a little creativity. Sometimes, creativity will […]