Smart Tax Guide

THE Expenses associated wiht a property portfolio are more easily overlooked: 


1-Get Organized - I've been using a spreadsheet for my monthly expenses.  There are several you can find and work on in the icloud.


2-Know Your Expenses - advertising, buisness use of home expenses, Condo fees, Continuing education, consultant fees, insuarnce, Interest, Management fees, Motor Vehicle expenses, Office Expenses, Property Tax,

Repairs and maintenance, Salaries and wages, Telecommunitications, Travel, Meals and lodging, Utilities


3-Know your captial Costs


4-Refuse a Salary - depends on the size of your portfolio


5-GST/HST - be vigilant


6-Start a Tax Free Savings Account (TFSA)


7-Disclose Foreign Investments


8-File on Time


 Terri's Tidbit for today 



No comments

Post Your Comment:

Your email will not be published
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.