Download 81 Financial and Tax Tips for the Canadian Real Estate by Don R. Campbell PDF

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By Don R. Campbell

From Canada's best-selling genuine esate writer, Don R. Campbell, and his crew.


From apartment houses to company places of work, an increasing number of Canadians deciding to buy genuine property are unwittingly environment themselves up for difficulties. actual property investments and their corresponding tax regulations are complicated--without realizing the tax principles, traders will see how fast likely achievable investments can develop into monetary failures. 81 monetary and Tax counsel for the Canadian actual property Investor deals sensible suggestion on effectively navigating the tax implications of estate possession, together with tips about a) deductions from source of revenue; b) getting ready for an audit; and c) leveraging expert support. packed with insights and Canadian-specific information, there is not any different ebook love it at the market.

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Extra resources for 81 Financial and Tax Tips for the Canadian Real Estate Investor. Expert Money-Saving Advice on Accounting and Tax Planning

Example text

However, the reality is that if you ignore these business fundamentals, you do it at your own financial and emotional peril. What you will learn: How to make more money with your real estate investments, and keep more of that profit in your bank account. What you will NOT learn: How to take stupid risks, hide your money off shore or trick the Canada Revenue Agency (CRA). The strategies and concepts taught here are not about tax avoidance; they are about profit and tax management. We live in one of the best countries in the world, and paying tax is a cost of living here.

This figure is then divided by the original investment (or investment value at a particular time), less any repayments. d. Cash Forecast. Shows how the properties are expected to perform in the next few years. Cash Flow Statement (Income and Expense Spreadsheet) Description Total Rental Income$ —Late Fees Collected$ —Laundry and Other Income$ —(Less Vacancy)$ — Total Income $ — Mortgage Interest$ —Bank Charges$ —Line of Credit Interest$ —Mortgage Interest Penalties$ —Legal Fees$ —Appraisal Fees$ —Accounting Fees$ —Bookkeeping Fees$ —Inspection Reports$ —Other Professional Fees$ —Insurance$ —Management Fees$ —Strata Fees$ —Advertising and Promotion$ —Meals and Entertainment$ —Repairs$ —Maintenance$ —Utilities — Rental Property$ —Property Taxes$ —Office at Home$ —Internet$ —Computer and Office Supplies$ —Travel$ —Motor Vehicle$ —Seminars$ —Miscellaneous$ — Total Operating Expenses $ — Total Operating Income $ — Mortgage Principal Repayment$ —2nd Mortgage Repayment$ —Updates$ — Increase in Equity $ — Net Cash Flow $ — KEY INSIGHT It costs money to plan.

Shows how the properties are expected to perform in the next few years. Cash Flow Statement (Income and Expense Spreadsheet) Description Total Rental Income$ —Late Fees Collected$ —Laundry and Other Income$ —(Less Vacancy)$ — Total Income $ — Mortgage Interest$ —Bank Charges$ —Line of Credit Interest$ —Mortgage Interest Penalties$ —Legal Fees$ —Appraisal Fees$ —Accounting Fees$ —Bookkeeping Fees$ —Inspection Reports$ —Other Professional Fees$ —Insurance$ —Management Fees$ —Strata Fees$ —Advertising and Promotion$ —Meals and Entertainment$ —Repairs$ —Maintenance$ —Utilities — Rental Property$ —Property Taxes$ —Office at Home$ —Internet$ —Computer and Office Supplies$ —Travel$ —Motor Vehicle$ —Seminars$ —Miscellaneous$ — Total Operating Expenses $ — Total Operating Income $ — Mortgage Principal Repayment$ —2nd Mortgage Repayment$ —Updates$ — Increase in Equity $ — Net Cash Flow $ — KEY INSIGHT It costs money to plan.

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