realestatetaxtips Archives - Real Estate Tax Tips

4 Tax Considerations To Make When Buying a Cottage as Your Second Home

4 Tax Considerations To Make When Buying a Cottage as Your Second Home

Are you a real estate investor or simply someone buying a cottage as your second home? Here are the top four tax considerations before you make that plunge! Depending on what your plans are with your cottage, let’s look at...

May 6, 2022

Articles Life Lessons Real Estate Investors Tips

Tax Deduction vs. Tax Credit?

Anything that reduces your tax bill, may it be a tax deduction or credit, is worth learning about. Wouldn’t you agree? When politicians are claiming that they are “putting more money back into the pockets of Canadians”, not every policy...

April 21, 2022

Articles Life Lessons Real Estate Investors Tips

Budget 2022: 8 Budget Items to Not Miss

On April 7 2022, the Canadian federal government set their Budget 2022 . We’ve all been waiting for the government to do something about the out of control housing market. If you don’t know already, almost the entire budget is...

April 15, 2022

What are the Taxes You Pay When House Hacking?

Articles Life Lessons Real Estate Investors Tips

What are the Taxes You Pay When House Hacking?

Last week we spoke about some tips and help that I used to purchase my first home. One of the ways to increase your ability to qualify for mortgages is by way of house hacking. So, this week we’ll look into...

April 7, 2022

How to Buy your First Home with Little Money

Articles Life Lessons Real Estate Investors Tips

How to Buy your First Home with Little Money

When you decide to buy your first home, it isn’t an easy step. My first home was a one bedroom condo located in Richmond Hill. It was a great little place at the time. I remember that I had aggressively...

March 31, 2022

How to Deduct Travel Expenses for Investors

Articles Life Lessons Real Estate Investors Tips

How to Deduct Travel Expenses for Investors

Real Estate Investors often ask me, “Can I deduct travel expenses, and if yes, then how?”. Generally speaking, you can deduct expenses that you incur to earn business income/rental income, subject to a bunch of exceptions, as specified in the...

March 24, 2022

CRA Audit: Real Estate Compliance Tips & Tricks

Articles Life Lessons Real Estate Investors Tips

CRA Audit: Real Estate Compliance Tips & Tricks

Real Estate Investors often ask me, how do I prevent myself from a CRA audit? Non-compliance can be a concern for any real estate investor if you become a victim of targeted audits. CRA released a report in 2011. In...

March 22, 2022

5 Ways To Prepare Yourself For Interest Rate Hike

Articles Life Lessons Real Estate Investors Tips

5 Ways To Prepare Yourself For Interest Rate Hike

What does the BOC’s interest rate hike mean? In the past two years, the Canadian government had done two things to help fellow Canadians to pass this tough pandemic time. Lots of subsidies, grants, and benefits were offered to local...

March 22, 2022

5 Ways To Earn Extra Income & Tax Implications

Articles Life Lessons Real Estate Investors Tips

5 Ways To Earn Extra Income & Tax Implications

We all want to build extra income. And to do so… We build businesses in a proper corporate structure, so we get tax deductions and pay less tax. We invest in real estate because it creates long-term wealth. We trade...

March 22, 2022

Articles Real Estate Investors Tips

How to Get Staycation Credit?

Staycation. Tax. Credit. Three words that sound so appealing put together. We all need a getaway from time to time. If you could get a tax credit to staycation and explore our beautiful province, wouldn’t that just be lovely? Although...

March 22, 2022

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Tag: realestatetaxtips

4 Tax Considerations To Make When Buying a Cottage as Your Second Home

Tax Deduction vs. Tax Credit?

Budget 2022: 8 Budget Items to Not Miss

What are the Taxes You Pay When House Hacking?

How to Buy your First Home with Little Money

How to Deduct Travel Expenses for Investors

CRA Audit: Real Estate Compliance Tips & Tricks

5 Ways To Prepare Yourself For Interest Rate Hike

5 Ways To Earn Extra Income & Tax Implications

How to Get Staycation Credit?

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