Cherry, Author at Real Estate Tax Tips

Avoid Capital Gains Tax When Moving To A Rental Property

Avoid Capital Gains Tax When Moving To A Rental Property

Capital Gains Tax and your Rental Property Are you worried about Capital Gains Tax when moving into your rental property as well? Recently, many of my clients have asked me about it. Some clients are in transition, staying in their...

January 27, 2022

5 Common HST Questions When Substantially Renovating A Property

HST rebate Other tax issues Real Estate Investors

5 Common HST Questions When Substantially Renovating A Property

Recently more clients have asked me about HST questions when building or substantially renovating a property for a flip. I have spoken about this before here. And I have created this post along with a video to refresh your memory...

January 20, 2022

Real Estate Wholesaling Makes A 6 Figure Income

Life Lessons Real estate investment Real Estate Investors Repairs and maintenance Small business and real estate

Real Estate Wholesaling Makes A 6 Figure Income

Real estate wholesaling properties is not easy. When my clients Don Lewis & Rick Lewis told me that they were giving up focusing on being general contractors for others to develop their real estate wholesaling business, I wasn’t sure if...

January 13, 2022

6 House Flipping Tax Tips You Just Can’t Afford To Miss

HST rebate Life Lessons Other tax issues Real Estate Investors Real estate rant

6 House Flipping Tax Tips You Just Can’t Afford To Miss

Today I am going to share house flipping tax tips for all you renovators out there! We have talked about this before, but with the latest booming real estate market, I am here to refresh your knowledge! With approximately 1...

January 6, 2022

Tax Implications of Refinancing Your Rental Property

HST rebate Other tax issues Real Estate Investors Rental Property

Tax Implications of Refinancing Your Rental Property

Over the years many real estate investors have questioned: What are the tax implications when I am refinancing a rental property? Let’s begin with looking at how refinancing works. Say you purchased a property 2 years ago for $500,000. Since...

December 29, 2021

How to Claim Tax Deductions with Gift Cards as a Landlord

HST rebate Life Lessons Other tax issues Real Estate Investors Real estate rant

How to Claim Tax Deductions with Gift Cards as a Landlord

As a landlord and taxpayer, you may wonder how to claim tax deductions on gift cards? Being a landlord myself, I too like to give gift cards to my tenants as a gesture of goodwill. After all, no good deed...

December 23, 2021

How to Purchase 150 Unit Building in the United States

Real estate investment Real Estate Investors Realtors/real estate agents

How to Purchase 150 Unit Building in the United States

Multi-family real estate investing has become a popular topic among Canadian real estate investors. Multi-family real estate investing may mean small-scale landlords like you and I, buying single-family homes and converting them into duplex and triplex. It may also...

December 16, 2021

5 Ways To Lower Capital Gains Tax on Sale of Your Rental Property

Capital cost allowance Capital Gains Tax Corporation Real Estate Investors

5 Ways To Lower Capital Gains Tax on Sale of Your Rental Property

The previous article discusses how to calculate rental property capital gains tax on sale of your rental property. In this article, I discuss five ways that you can use to lower your capital gains tax when you sell your rental...

December 2, 2021

Capital cost allowance Capital Gains Tax HST rebate

How To Calculate Rental Property Capital Gains Tax?

For those of you selling their principal residence, you likely won’t have to pay any tax on your home, provided you meet certain conditions. For those of you who want to sell a rental, be prepared for rental property capital...

November 25, 2021

Top 10 Tax Deductions as a Real Estate Investor

Corporation Real estate corporations Real estate investment Real Estate Investors Should I incorporate?

Top 10 Tax Deductions as a Real Estate Investor

Can you believe it’s November already? Our team is preparing for tomorrow’s client only webinar to go through our bookkeeping procedures with clients. It got me thinking, we should reiterate with everyone what real estate investors can deduct against their...

November 18, 2021

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Author: Cherry