Accounting Strategies for Real Estate Investors

The professionals of Filing Taxes specializes in providing accounting solutions for small businesses, corporations and individuals. Our services are available in Oakville, Toronto and Mississauga.

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Real estate can be a very good investment, and it’s one that many Canadians choose because it can be beneficial in terms of high capital and tax advantages. Real estate tends to be of value over time, leaving you with a good long-term investment.

If you own a property in Canada and know about the Canadian tax laws involved with real estate investments, it can be highly beneficial. As the Canadian laws are quite flexible to people who own real estate, no formalities like citizenship or residential certificate are required to buy and own a property in Canada. No one can prohibit you from owning a rental property if you are a non-resident in Canada. But you must make sure to file annual tax returns with the Canadian Revenue Agency (CRA).

Property taxes and mortgage, bank loan or line of credit interest are tax-deductible in Canada if the property is an investment property. The deduction is called the capital cost allowance (CCA). Being an investor in real estate business, one must be familiar with the tax implications every time you invest, right from owning the property to renting it and finally putting it up for sale.

If you invest money in the real estate business, you can face a lot of challenges and be ready to make sure that your money is invested properly. So, it would be best if you look for the right accounting firm for real estate services. We create innovative tax and accounting solutions for real estate businesses to resolve these wide-ranging challenges and opportunities.

At Filing Taxes, the real estate tax professionals have experience and skills and can provide specific advice in making good real estate investments.

If you are planning to hire a real estate accountant or are already working with one, you must consider the questions mentioned below to see whether they are right for your real estate business.

  • How many years of experience do you have as a real estate accountant?
  • What steps will you take to prepare for tax season?
  • How many of your clients have a similar structure to my real estate investment?
  • Do you provide your accounting and tax advice for both active and passive investments?
  • What kind of services can you provide for me?
  • What percentage of your clients own income-producing real estate?
  • What is the number of real estate investments you have in Canada?
  • What kind of real estate belongings do you and your clients have?

Filing Taxes Real Estate professionals possess a unique knowledge of the accounting systems, reporting requirements and taxation issues faced by our real estate clients, builders, developers and contractors. Our team is versed in industry-specific accounting requirements and understands the workings of the real estate industry so that our working time is productive. Besides preparing tax returns and financial statements, we have the experience of analyzing financial ratios and preparing you for any loan application.