Posts Tagged ‘real estate’

Accounting when flipping real estate investments

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

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 […]

Non-residents and non-resident joint ventures: Filings and deadlines for owning and selling Canadian real estate

Posted on: May 28th, 2015 by Real Estate Accountants No Comments

Given the time of year, June 30th being a major tax filing deadline for non-residents, we wanted to highlight an article from the archives that covers the ins and outs of owning and selling Canadian real estate as a non-resident, or as a real estate investor who has non-resident joint ventures. Many of our clients are […]

Real Estate Investing in the United States: Accounting and Tax issues

Posted on: November 14th, 2011 by Real Estate Accountants No Comments

We are often asked about the main issues that Canadians should consider when investing in the United States. We had the good fortune of presenting some of these issues to a group of investors in Ottawa at the monthly OREIO (Ottawa Real Estate Investors Organization) meeting. The presentation covers: Structure Liability Withholding taxes Income, capital gains and […]

Accounting & tax issues for real estate investors…the video highlights

Posted on: November 10th, 2011 by Real Estate Accountants No Comments

Andrei Angelkovski, of www.beachinvesting.com, interviewed George on accounting and tax issues for real estate investors for his blog. The interview covered: 1. Should we incorporate or not? 2. What are the top 3 things people think they can expense but cannot? 3. What are 3 tips you would offer real estate investors about accounting and tax? […]

Buying a US property? LLP one form of ownership

Posted on: June 27th, 2011 by Peter Cuttini 1 Comment

Over the past few years, we have been seeing more U.S. properties being purchased by Canadians using a Limited Liability Partnership (LLP) structure. The LLP structure can be used to minimize legal liability risks, while allowing preferential tax treatment of a flow-through entity to the individual partners. The partnership must file a 1065 U.S. Return of Partnership […]

Top 10 tips for prepping your personal tax returns – pt 2

Posted on: April 12th, 2011 by Dube & Cuttini No Comments

6. Claim CCA or the principal residence exemption Generally, we like to claim the capital cost allowance (CCA)— the tax equivalent to depreciation—on our properties. This decreases our current year taxes even if we will incur “recapture” when we ultimately sell the property. After all, a dollar today is worth more than a dollar tomorrow. However, if […]

Investing in the US: Who should own your property?

Posted on: February 15th, 2011 by Dube & Cuttini No Comments

George Dube and Peter Cuttini discuss the different ownership options when investing in the U.S. to maximize tax savings and asset protection Due to the severe recession that has gripped the United States economy and the subsequent reduction in housing values; a number of Canadians are now investing in U.S. real estate as second homes or investment […]

Canadians investing in US real estate

Posted on: February 3rd, 2011 by Peter Cuttini No Comments

The Canadian Real Estate Investors Club (CREIC) recently invited George and I (Peter) to discuss tax implications and business structuring options for Canadian real estate investors who are buying properties in the United States. We helped dispel many of the myths about investing in the US, including the unfortunate use of LLCs (limited liability companies) by Canadian investors. While […]

Tax reporting for sub-contractors

Posted on: February 3rd, 2011 by Dube & Cuttini No Comments

Tax reporting for sub-contractors, particularly in the construction and real estate industries, is expected to come under greater scrutiny this year by Canada Revenue Agency. The government is trying to cut down on the underground “cash” business, or employees who are claiming to be businesses to claim tax deductions they wouldn’t otherwise be eligible for. […]