Ask any real estate investor about what they love about what they do. Most will tell you it’s finding the property with the right fundamentals that will deliver 1) increased property values over time, and 2) cash flow. Very few will say that they love to read contracts or set up their files for their accountant, and although many are intrigued about saving money, they feel that tax is too complicated a topic for them to digest. And they will admit that this is a problem: they would like to be better informed. It would be better for their business. It would help them optimally deal with their team of professionals. Legal, Tax and Accounting Strategies for the Canadian Real Estate Investors offers high-caliber information complemented by strategies and take-action checklists to enable the investor to better understand their business and to explore ways to save on tax exposure and increase long-term equity growth with a solid grounding in the legal aspects of property ownership, financing and accounting. The author team has years of experience with the investor community, providing guidance and solutions to problems to the public at large and REIN members in particular.
Book Details:
- Author: Steven Cohen
- ISBN: 9780470677735
- Year Published: 2010
- Pages: 272
- BISAC: BUS074000, BUSINESS & ECONOMICS/Nonprofit Organizations & Charities
About the Book and Topic:
Ask any real estate investor about what they love about what they do. Most will tell you it’s finding the property with the right fundamentals that will deliver 1) increased property values over time, and 2) cash flow. Very few will say that they love to read contracts or set up their files for their accountant, and although many are intrigued about saving money, they feel that tax is too complicated a topic for them to digest. And they will admit that this is a problem: they would like to be better informed. It would be better for their business. It would help them optimally deal with their team of professionals. Legal, Tax and Accounting Strategies for the Canadian Real Estate Investors offers high-caliber information complemented by strategies and take-action checklists to enable the investor to better understand their business and to explore ways to save on tax exposure and increase long-term equity growth with a solid grounding in the legal aspects of property ownership, financing and accounting. The author team has years of experience with the investor community, providing guidance and solutions to problems to the public at large and REIN members in particular.
Legal, tax and accounting strategies that help investors to 1. maximize cash flow; 2. minimize taxes; 3. reduce exposure to liability; and 4. structure real estate portfolios optimally. Authoritative and credible information. The authors are specialists in their fields. Both authors are members of REIN and counsel to REIN members. Through a website to complement the book, the reader will be provided with precedent forms on the legal side, and accounting worksheets on the accounting side. Strategy Example: Structuring your investments as a sole proprietorship in the first few years allows early losses, which are not uncommon, to offset other sources of income. As the portfolio grows, it may make sense to incorporate, which allows for the protection of personal assets at a cost of stricter government regulations and accounting. Corporate structure also offers a fixed tax rate regardless of profits and can serve as an exit strategy, as corporate real estate holdings are much more easily transferred than personal holdings.
About the Author
Steve Cohen (Toronto) LL.B., University of Toronto and LL.M, Osgoode Hall Law School, is the principal of Steve Cohen Law, a corporate/securities practice. The firm acts as an “on demand” in-house counsel to Canadian public companies, providing ongoing and transaction-specific advice. Steve Cohen Law represents SMEs in connection with all forms of material transactions including financings, M”>81 Financial and Tax Tips for the Canadian Real Estate Investor: Expert Money-Saving Advice on Accounting and Tax Planning (Wiley, 2009). Perm Persaud, CA, a partner with Dube & Associates, who has extensive experience in real estate, construction, manufacturing and retail businesses is lending his expertise to technical information and data.