Real Estate Tax

Investing in real estate is the ideal option if you want to earn high capital growth and boost your income.

When it comes to investments giving high returns, the real estate business is the first name that comes to mind. Real estate allows you to get higher capital appreciation, a cut above an income stream, and many tax advantages. It’s not only fruitful in terms of getting incredible financial gains but also provides sizeable tax savings and tax sheltering opportunities.

However, managing your real estate accounting and reporting requirements can be onerous, especially when it comes to taking care of the more diversified areas of your portfolio.

The real estate industry can be turbulent, but your accounting shouldn’t be. A filing taxes accounting firm in Mississauga ought to know about all facets of the Canadian real estate industry. With a decade of real estate tax accounting and consultancy experience, Filing Taxes has become a kingpin in real estate accounting and tax services in Mississauga and Toronto.

Build Yourself a Real Estate Business with Better Numbers

Filing Taxes accounting and tax firm in Mississauga, will help you win in real estate. Our expert accountants aim to develop accounting solutions and tax planning to minimize your taxes and circumvent financial obstacles. Our expert team of Professional Accountants in Toronto understand the ins and outs of the real estate business, whether you’re looking to invest in real estate, already are and need advice as a landlord, need assistance on day-to-day operations, or are a real estate agent wanting to understand your taxes, we do it all! We have an in-depth understanding of the financial aspects of real estate, and we’d love to share it with you.

With hundreds of real estate clients of every type, we understand the challenges specific to your business we are well-positioned to work with you and your team to ensure your business receives solid advice when navigating through a purchase or sale transaction, working on negotiating terms with lenders, managing other costs of capital and tax planning.

We work with real estate agents and brokers, property managers, developers, flippers, and everything in between. Our specialist accountants in Mississauga are passionate about real estate, and we are here to help the industry thrive.

Bring Your Real Estate Financials into Focus With Filing Taxes

Tax, advisory, and accounting services to help you expand your real estate business with confidence. We provide the highest level of real estate accounting and tax services in Mississauga.
We know how to build the groundwork to ensure that competent accounting boosts the value of real estate, whether it’s a single property or a huge portfolio. Filing Taxes accounting services in Mississauga offer the complete range of real estate tax and advisory services, enabling you to take advantage of all tax-deductible expenses, claim a foreign tax credit, and help you with additional consultancy.

We know how cutthroat and fast-track the real estate market is, so our real estate accountants in Mississauga and Toronto will give the most recent information, anticipate the needed approach, and offer the solutions best suited to the client’s needs. Experience the difference in your business by working with our real estate accountants in Toronto, who can help you with:

Accounting Services and Tax Consultation (Mississauga & Toronto)

Cloud-Based Real Estate Accounting
Organizing and tracking services such as contractors, legal fees, and agent commissions.
A team of tax professionals keeps you on track
On-time and accurate reporting of the sale of the property
Keeping up with tax obligations on real estate sales and purchases
Following provincial and federal regulations and requirements for property purchasing and ownership.
Navigating insurance rates, interest, premiums, and transaction fees.
Securing various tax credits wherever applicable.
Year-end Compliance: Financial statements and tax returns.
Transparent reporting adds clarity to your decision-making
Seasoned experts help you scale your real estate holdings,
Accounting and Audit
Rental property advice to set up corporations.
Commercial property optimization
Acquisition due diligence
Cost segregation analysis
Help you make smart real estate investment decisions.
Supplying guidance on navigating a budget and accounting for unexpected expenses that may arise.
Financial budgeting and planning for home ownership.
Corporate structuring
Estate Planning: Protect your assets.
Guide you on everything you need to know about REITs (real estate investment trusts), limited partnerships, mortgage investment corporations (MIC), and other financing appropriate for your company.

Tax Planning and Preparation Services in Mississauga & Toronto

Creative strategies that save you thousands in taxes
Personal tax filing of rental income
Help non-residents fulfil their Canadian real estate tax obligations.
Scenario planning and estimates help you know how much tax liability to expect.
No “waiting until the last minute” to file.
Preparing and filing tax documents within proper deadlines in accordance with the CRA.
Multiple levels of review ensure high quality.
Help create a tax planning strategy that allows you to legally keep as much money as possible.

A Variety Of Real Estate Activities, Filing Taxes Manage

Filing Taxes has many real estate professionals and corporations in our clientele. Our specialist accountants in Toronto deal with a variety of real estate activities. Some of them are:

Start-up Business Advice for Real Estate Agents
Operate a real estate brokerage.
Sell real estate for third-party vendors.
Development of real estate for sale or lease.
Manage the rental of real estate on behalf of owners.
Manage the operation of strata corporations for properties subject to the Strata Title Act.
Locate (as finders) real estate opportunities for developers, and otherwise consult developers.
Conduct feasibility studies and consult generally with retail and commercial property and shopping center owners.
Finance the construction of, and long-term investment in, real estate via mortgages or other hybrid instruments.
Assemble properties under contract for rezoning and development approval.
Design and build to client specifications.
Landscape architects and ‘green building’ consultants.
Manage the construction phase of a building and coordinate all contracts and sub-trades, including cost control and budgeting.
Clients in this industry include homebuilders, land/commercial/residential developers, real estate agents, condominium corporations, real estate investment trusts (REITs), commercial and residential landlords, property managers, and all ancillary businesses.

We Are Industry Specialists in Real Estate Accounting and Tax Services in Toronto

We provide our customers with highly qualified specialists, as well as the most up-to-date platform and technology. That’s why leading commercial and residential property owners, developers, brokers, architects, and management companies count on Filing Taxes to be their best asset throughout the entire real estate lifecycle in Canada.

With extensive technical knowledge and deep industry experience providing financial, tax, and business consulting services, our real estate team of accountants in Toronto thrives in solving complex matters amid ever-changing environments. Our professional accountants in Toronto will build a solid financial foundation complete with steady guidance and strategies to navigate the unpredictable economic landscape. The door to invest in your future with the Filing Taxes team of real estate industry experts is open; take the first step toward empowering growth.

With more than a decade of experience managing taxation for the real estate industry throughout Canada, we are privileged to understand the real estate industry on a deeper level, which gives us an edge in negotiating deals between our clients and the CRA.

The Difference You Will Experience with Filing Taxes, Real Estate Accounting and Tax Services (Mississauga & Toronto)

Personalized service and attention
A no-hassle conversation about your practice value
Specialized services in accounting and tax returns for real estate agents
We strive to enable your business to be more financially savvy and secure.
Structure tax-efficient entities for various real estate activities
Conduct a portfolio analysis.

By using our knowledge of the industry and your specific situation, we focus on providing practical solutions that best fit your needs so you can seize opportunities for growth in the real estate sector.

Grow more with Filing Taxes — Personal Real Estate Corporation (PREC) Services

Whether you’re seriously considering incorporating your real estate business or would simply like to know more about your options, now’s a great time to reach out to Filing Taxes real estate advisors to review your business structure. Together, we can ensure that you set up properly and tax efficiently, both to fit your current needs and to provide the best outcome possible in the eventual case of your retirement or business exit.

You may be unsure whether incorporating is the right move for your real estate business right now. As you weigh your options, we recommend reaching out to our PREC expert accountants in Toronto for a more detailed analysis. We will help you navigate the process of forming a PREC with confidence and clarity.

Creating a PREC involves several key steps, each crucial for ensuring legal compliance and optimal structuring:

Eligibility Check: Verify that you meet all the requirements set by your provincial real estate council for owning a PREC.
Name Approval: Choose a unique name for your corporation, which must then be approved by the real estate council.
Articles of Incorporation: These documents outline the structure of your corporation, including share classes and any restrictions specific to real estate corporations.
Incorporation and Registration: File your incorporation documents with the relevant provincial registry and obtain a corporate number.
Opening Corporate Bank Accounts: Set up banking arrangements for your new corporation to handle all business transactions.
Accounting and Bookkeeping Setup: Implement an accounting system for your corporation to manage finances effectively.

Post-Incorporation Considerations

After establishing your PREC, continuous management and compliance are vital:

Annual Filings: Stay on top of annual reporting requirements to maintain good standing.
Tax Planning: Regularly consult with tax professionals to optimize your corporate tax strategy.
Legal Compliance: Ensure that your corporation complies with all provincial real estate regulations and laws.

Filing Taxes advisors in Toronto would be pleased to assist real estate agents who are interested in setting up their own PREC and taking advantage of the potential tax savings.

Real Estate accounting and tax is one of the services for which Filing Taxes has established a market-leading position in Canada. If you’d like to learn more about our real estate accounting and tax services in Toronto, please contact us. Our professionals are available to provide you with detailed information.