Keeping your books in order and your taxes minimized are crucial elements for profitable real estate investing, and it’s vital for real estate investors to take an active role in their administration. 81 Financial and Tax Tips for the Canadian Real Estate Investor offers clear direction and applicable examples to unravel these often complex issues that are key to maximizing your revenue and reducing your taxes. This isn’t a guide to tax evasion or dodgy accounting. This is a guide to understanding the limitations, requirements and benefits of the Canadian system and making sure that they work for you, the investor, and not against you.
Different forms of property ownership and property type bring with them variations in how they must be accounted for in your books and the taxation rules associated with them. These differences are not the responsibility of your accountant or lawyer, they’re yours. 81 Financial and Tax Tips for the Canadian Real Estate Investor is an accessible guide to tax and accounting and how these concerns intersect with your real estate investments.
If you’re serious about your real estate investments, 81 Financial and Tax Tips for the Canadian Real Estate Investor is a vital resource that will help you maximize your revenue and keep more of that money in your bank account.
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Introduction.
Part 1: Get Help! Quality Information Is the Fastest Way to
Increase Your FM IQ!
Part 2: When There Is More Than One Answer . . . Real Estate
Investing Is Complicated. Avoid Common Pitfalls.
Part 3: For the Record:Your New Business Mantra: Organize and
Delegate. Organize and Delegate.
Part 4: Expense Reports:Keep It Real (To Keep It
Deductible).
Part 5: The Facts About Tax: How to Put Your Knowledge of
Canadian Taxes to Work.
Part 6: Let’s Get Sophisticated:Tax Strategies for the Savvy
Investor.
Appendices.
Property Goldmine Score Card.
REIN Property Analyzer Form.
Canadian Real Estate Glossary.
Real Estate Investment Network – REIN.
Web Sites for the Real Estate Investor.
Acknowledgements.
About the Authors.
Index of Financial and Tax Tips.
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Don R. Campbell is the author of the Canadian bestseller Real Estate Investing in Canada, a book that all real estate investors should have as an action tool and reference. A staunch advocate of the Authentic Canadian Real Estate System (ACRES), Don is president of the Real Estate Investment Network (REIN). REIN membership exceeds 3, 000 successful Canadian investors whose investment in Canadian residential real estate tops $3.1 billion.
At real estate seminars and live workshops held across the country, Don shares his years of hands-on experience as he teaches strategies he has personally tested in the real world. Through REIN (www.reincanada.com), Don has helped investors achieve their dreams. Some of the most notable investor stories were the foundation of another of his books, 51 Success Stories from Canadian Real Estate Investors. Along the way, charities such as Habitat for Humanity have also benefited from Don’s enterprise.
Navaz Murji is a Certified General Accountant (CGA). In 1992, he moved his nine-year-old accounting practice to Burnaby, B.C., from Edmonton, where he had already started investing in real estate. Today’s practice, Murji & Associates (www.realaccountant.com), maintains a strong emphasis on owner-operated enterprises, with 48% of the client base composed of real estate investors. Navaz also maintains his own real estate investment portfolio that contains several multi-family buildings developed with other investors.
George E. Dube, Chartered Accountant, established what is now known as Dube & Associates Professional Corporation, Chartered Accountants (www.dubeandassociates.com) in 1997 after several years with national accounting firms. A veteran real estate accountant and investor whose practice focuses on providing the knowledge and tools clients need to increase the value of their businesses, George is a frequent guest speaker at Ontario REIN meetings. George and his team represent Canadian clients as well as clients from other countries who invest in Canadian real estate.