Archive for the ‘tax’ Category
Making online payments to CRA…a quick how to
People often ask us what options they have for making payments to CRA. If you want to avoid a trip to your local CRA office, one option is to make online payments. There are some restrictions when making online payments. For example, the banks from which you can make the payments are limited. As well, […]
Insiders’ Guide to Real Estate Accounting
Our clients expect us to provide the “insiders’” perspective on real estate accounting issues. We had the good fortune of presenting some of this insider knowledge to a group of investors in Ottawa at the monthly OREIO (Ottawa Real Estate Investors Organization) meeting. The presentation covers: Choosing a real estate accountant When, if ever should I incorporate? New […]
Accounting & tax issues for real estate investors…the video highlights
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? […]
Top 10 tips for prepping your personal tax returns – pt 2
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 […]
Top 10 tips for prepping your personal tax returns – pt 1
1. Get organized. Use a checklist to find all deductions which may be available to you. We have publicly available checklists at www.dubeaccountants.com, including checklists for rental properties, automobile expenses, business activities, home office expenses and, of course, general personal taxes. 2. Maximize interest deductions. Maximizing your interest deductions can take a large bite out of taxes […]
