For the many thousands of real estate investors across the country, here at last is a practical, compact, and easy-to-understand guide to accounting and tax-saving strategies. 81 Financial and Tax Tips for the Canadian Real Estate Investor unites the years of experience and knowledge of four experts to create the go-to book for investors in this area. The book is designed to introduce money-saving strategies as well as determine what properties offer optimum equity growth. For those who are undecided about investing in real estate, they will receive an expert assessment of the risks and rewards on investment. And different forms of property ownership bring with them pros and cons from a tax and accounting point of view. So it is imperative that the investor have a plan of action, have the benefits of a proven system through the Real estate Investment Network, and have stories and case studies that illustrate the pitfalls to be avoided and the opportunities that are to be grasped. The reader will also have the added benefit of access to the REIN website and lots of complementary information in the form of documents, checklists and updates. The world of real estate investment is never static, and the ability to capture the expertise of REIN members through this book and the website is invaluable.
Book Details:
- Author: Don R. Campbell
- ISBN: 9780470676066
- Year Published: 2010
- Pages: 240
- BISAC: BUS036050, BUSINESS & ECONOMICS/Investments & Securities / Real Estate
About the Book and Topic:
For the many thousands of real estate investors across the country, here at last is a practical, compact, and easy-to-understand guide to accounting and tax-saving strategies. 81 Financial and Tax Tips for the Canadian Real Estate Investor unites the years of experience and knowledge of four experts to create the go-to book for investors in this area. The book is designed to introduce money-saving strategies as well as determine what properties offer optimum equity growth. For those who are undecided about investing in real estate, they will receive an expert assessment of the risks and rewards on investment. And different forms of property ownership bring with them pros and cons from a tax and accounting point of view. So it is imperative that the investor have a plan of action, have the benefits of a proven system through the Real estate Investment Network, and have stories and case studies that illustrate the pitfalls to be avoided and the opportunities that are to be grasped. The reader will also have the added benefit of access to the REIN website and lots of complementary information in the form of documents, checklists and updates. The world of real estate investment is never static, and the ability to capture the expertise of REIN members through this book and the website is invaluable.
Details the characteristics of properties that offer the most value The pros and cons from an accounting and tax aspects of different forms of property ownership Purchase and property taxes – land transfer taxes, GST, tax rebates, purchasing from a corporation Income and capital gains – how federal and provincial rates apply on income as well as how capital gains (or losses) apply on the sale of a property. How to defer capital gains to minimize taxes Tax saving strategies – what are the legitimate expenses an investor can apply against income to reduce their tax exposure? The list of these tax exemptions is quite extensive and it includes such items as: insurance premium deductibility, interest on loans for renovations, office expenses, cost of materials for upgrades, and much more Paperwork – this is a common complaint – how to control it and put the investor in a strong position in the event of an audit. EXAMPLES FOR SALES REP: 1. Tips on how to save money through tax planning and strategies-all legal and above board. 2. Organizing finances for better time management. 3. Tips on deductions from income. 4. Tips on preparing for an audit.
About the Author
Don R. Campbell is a Canadian-based real estate investor and consultant, and is President of Canada’s Real Estate Investment NetworkTM (REIN). He is the author of the best-selling Real Estate Investing in Canada (0470835885) and 97 Tips for Canadian Real Estate Investors (0470838086). Navaz Murji, CA, is based in Vancouver and is an accountant to many REIN members. George Dube, Master of Accounting, Charted Accountant, has offices in Kitchener, Stratford and Guelph. He is a member of the Institute of Chartered Accountants of Ontario Small Practice Advisory Committee, a CRA regional practitioner, and a member of the Canadian Tax Foundation since 1993. Connie Campbell is a CA.