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  • Forum Post: Tax accountant in the Edmonton area...

    Hello all, I am looking to build a relationship with a tax accountant in the Edmonton area. I'd prefer someone associated with REIN. Just taxes for this year and some strategies to reduce my taxes for the coming year. Also, I plan to purchase some rental properties this year so I would like to discuss...
  • Forum Post: Book Keeper Referral

    I am looking to hire a book keeper with real estate experience. Any referrals would be appreciated. Thanks, Brad
  • Forum Post: Can we claim our sweat equity?

    I thought this post would be of interest to the forum... Can we claim our sweat equity? Posted on: November 14th, 2012 by George Dube I am often asked about sweat equity and rental properties. Just the other day, a client asked me: Are we allowed to claim for expenses that we did not pay for but consumed...
  • Forum Post: Upon Sale of a property, what amount will the taxes be owed on?

    Hi folks If someone bought a rental property 2 years ago with $200k with 80% leverage (his mortgage is 160k), There was zero cash flow all the 2 years. After 2 years (now), the mortgage pay down was 20k (so he has a mortgage of 140k) and he sold the house now with $210 What number he will be taxed on...
  • Forum Post: Re: Legal fees for a HELOC tax-deductible?

    Iskra, I'm not sure if you saw it, but last week I posted a very similar question under " Tax question for new mortgage ". I had a few people providing me with valuable information, but still no clear answer. I also had a chance to talk with a friend who is an accountant (not a RE accountant...
  • Forum Post: Re: Is a Home Office an Expense?

    Hello all You are all correct and wrong. As it stands for this year because of the MASS retirements at CRA and the lack of critical experienced people there, CRA has declared themselves incompetent. Yes, you heard it. My accountant does forensic work for the Gov`t and they are going through a difficult...
  • Forum Post: Is my lunch tax deductible?

    Good evening all, I've gotten this question from real estate investors quite often, and thought this could be some helpful information for many of you. Is my lunch tax deductible? Question: My husband and I painted and shampooed the carpet at our condo yesterday after our tenant moved out and prepared...
  • Forum Post: Is my REIN membership deductible?

    Good afternoon, This is a post that is of special interest, I hope, to all REIN members, so I have cross-posted from my blog. Is my REIN membership deductible? Posted on: November 10th, 2011 by George Dube I am often asked, “Is my REIN membership deductible?” While the Canada Revenue Agency...
  • Forum Post: Re: CRA Court Cases affecting real estate investors

    Good evening, I often get questions on capital gains vs. income. Here is a relevant tax court case that can provide some answers. CRA Court Case: Capital gains vs. income – intention matters! Posted on: August 14th, 2011 by George Dube Question: If hold a property for 23 years and then sell it...
  • Forum Post: Re: CRA Court Cases affecting real estate investors

    Good afternoon, Here is a recent case illustrating some key aspects of why good bookkeeping is essential. CRA court case: Get your accounting in order or pay a steep price Qian vs. The Queen (2010 DTC 1357 (TCC)) illustrates a few key factors that apply to any business owner. And, of course, real estate...
  • Forum Post: CRA Court Cases affecting real estate investors

    Good afternoon, I thought it might be useful to start a thread on Canada Revenue Agency court cases that affect real estate investors. I'll use this thread to post periodic updates that will translate the case law into "people speak".
  • Forum Post: House Flipper's Corporate Structure

    I am creating my website which has prompted me to consider the structure and target markets of my businesses. My 2 major focuses in business are flipping and holding/renting. I own a renovation corporation (Stretch Contracting Ltd.) which was opened in 2003 and has been successful ever since, but I no...
  • Forum Post: Re: GSTon an investment property

    Good evening Kim, The increase in value has nothing to do with whether or not GST/HST is applicable for a used residential property. Rather, Navaz was likely trying to get at the fact that if there is a "substantial" renovation, or major renovation to an existing property which at the end of...
  • Forum Post: 2010 Tax Checklists - Identify your deductions

    Good afternoon, We recently posted a series of tax checklists on our web site to help you identify all of your possible deductions when preparing your records for your 2010 tax return. http://dubeaccountants.com/2011/02/14/2010-tax-checklists/ The checklists include one specifically for real estate rentals...
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