Guest Post: How tax and brokerage rules restrict realtors

how tax and brokerage rules restrict realtors

Recently I was asked to write some thoughts on the RealtyPoint web site about how rules restrict realtors from saving taxes. You can check it out here: How tax and brokerge rules restrict realtors

Posted on: January 9th, 2015 by George Dube

Putting properties in a lower-income spouse’s name to save taxes? STOP and talk to your accountant first

Investment properties

I make $150K per year, and my husband is in school, so has no salary. Can I put all our properties in my husband’s name so we can save taxes? On a fairly regular basis, we get questions like this from a husband or wife saying they want to put all the properties in their […]

Posted on: November 12th, 2014 by George Dube

Estate and Succession Planning: The Inside Scoop

George Dube

Learn why estate and succession planning is about living, not about dying! How will your asset base be managed when you can no longer do it? Find out the common tasks you’ll need to tackle and 9 steps to make your estate and succession planning successful.

Posted on: October 31st, 2014 by George Dube

Counting your pennies…it still matters with your automobile

Cars and kilometres

Pennies may have gone by the wayside, but driving your car for your business and/or in pursuit of real estate investments can still add up to quite a few of them in deductions. The Canada Revenue Agency (CRA) establishes kilometre allowances which taxpayers who own or lease an automobile may charge their corporation or, in […]

Posted on: March 10th, 2013 by George Dube

Q&A: JVs and Capital Gains-how does this work?

roof

Question: I am currently working on my first JV partnership  and have a question regarding Capital Gains. In this instance my JV partner is making the down payment and will solely be on the title and mortgage. In your experience, what is typically done regarding Capital Gains? In the event we sell, my JV partner […]

Posted on: January 17th, 2013 by George Dube

Can we claim our sweat equity?

paint_cans

I am often asked about sweat equity and rental properties. Just the other day, a client asked me: Are we allowed to claim for expenses that we did not pay for but consumed our time (e.g. painting a rental premises by ourselves, doing repairs on a property ourselves or clean up work done on our […]

Posted on: November 14th, 2012 by George Dube

Is my lunch tax deductible?

Lunch

Question: My husband and I painted and shampooed the carpet at our condo yesterday after our tenant moved out and prepared the place for the new tenant to move in.  We obviously needed to eat so we got lunch.  Should we save the receipt for lunch to put as our expense for the year-end? Does […]

Posted on: January 26th, 2012 by George Dube

The key to the whole she-bang – real estate accountants uncovered

Keys

I’ve written previously about what you should look for in a real estate accountant. But I want to talk in-depth about a couple of points that we often discuss: The key to the whole she-bang – practical and technical experience High standards – ethics is a two-way street The key to the whole she-bang In […]

Posted on: November 15th, 2011 by George Dube

Accounting & tax issue for real estate investors…the video highlights

George Dube

Andrei Angelkovski, of www.beachinvesting.com, interviewed George on accounting and tax issues for real estate investors for his blog. The interview covered: 1. Should we incorporate or not? 2. What are the top 3 things people think they can expense but cannot? 3. What are 3 tips you would offer real estate investors about accounting and tax? […]

Posted on: November 10th, 2011 by George Dube

Is my REIN membership deductible?

Tax deduction

I am often asked, “Is my REIN membership deductible?” While the Canada Revenue Agency debates this, I’ll argue until I’m blue in the face that for the vast majority of serious real estate investors, the answer is an unequivocal YES. While I agree with the CRA that the amount is not a tax credit under the […]

Posted on: November 10th, 2011 by George Dube