Posts Tagged ‘real estate accountant’
Podcast: 10 benefits of real estate ownership
What are the 10 benefits to real estate investors of real estate ownership? Listen in as George Dube, CPA, CA, author, tax accountant, real estate investor, and speaker guests on “The Working Capital Real Estate Podcast”. Host Jesse Fragale speaks with George on a variety of real estate investing topics, including: How real estate can […]
Choosing a real estate accountant
When it comes to real estate accounting services, you want the right professionals working with your business to deliver real estate tax knowledge that supports your best interests. While assessing the best fit for a new real estate accountant, it’s important to choose an industry specialist over a generalist. Why? Because those who live and […]
10 key lessons for real estate investors on capital vs income when arguing with the CRA: From intention to integrity
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
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?
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
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
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?
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
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
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 […]
