Tag: Real Estate Tax

I just sold a rental property that was held within a corporation. What are the tax implications?

When rental property is held within a corporation, the capital gains rules are slightly different. Similar to an individual holding a property, only 50% of the capital gain is taxable. The taxable portion of the capital gain is taxed at a corporate tax rate of approximately 46%. When dividends are paid by the corporation to … Continue reading I just sold a rental property that was held within a corporation. What are the tax implications?

Which US states allow the formation of LLLPs for US real estate investments?

Question: I’m a Canadian citizen and resident. My Canadian accountant told me to purchase US real estate through an LLP or LLLP. Which states allow for LLPs vs LLLPs to be setup? Answer: Unlike LLPs which can be formed in any state, only certain states offer the option for the creation of an LLLP. These … Continue reading Which US states allow the formation of LLLPs for US real estate investments?

What’s the difference between an LLP and LLLP with respect to US real estate purchases?

Question: I live in Canada and I’m a US real estate investor. I want to set up a limited partnership in the US for real estate I own but I have no idea what the difference between an LLP and an LLLP is. Answer: In an LLP (limited liability partnership), the partners assume the management … Continue reading What’s the difference between an LLP and LLLP with respect to US real estate purchases?

What do the terms recapture of Capital Cost Allowance (CCA) and Terminal Loss mean?

Question: My company sold capital assets (including a building, furniture and equipment). I see the terms “Recapture” and “Terminal Loss” on my corporate tax return, what do these mean? Answer: When you purchase capital assets (e.g. vehicles, buildings, furniture, computers, equipment), the Canada Revenue Agency (CRA) applies specific depreciation (CCA) rates. The rates are a … Continue reading What do the terms recapture of Capital Cost Allowance (CCA) and Terminal Loss mean?

Can I write-off leasehold improvements?

Question: I recently moved into a new building and was required to cover the cost of making the new space suitable for my purposes. This included purchasing new lighting, installing new flooring, internal walls and wall coverings. Is it possible to write off these expenses from my business? Answer: According the the Income Tax Act, … Continue reading Can I write-off leasehold improvements?

How to Make Real Estate Investments Profitable Watch Video

Are you a real estate investment group? This article is about why you should incorporate for real estate.

5 Things Canadians Need to Know About Buying U.S. Real Estate Watch Video

Allan Madan is a tax expert and a cross border tax accountant Toronto, Ontario, Canada,

5 Things Canadians Need to Know About Buying U.S. Real Estate

Allan Madan is a tax expert and a cross border tax accountant Toronto, Ontario, Canada, amongst other things.Having had sufficient experience as a Cross Border Tax Accountant Toronto, he has compiled the “top 5 things Canadians need to know about buying US real estate.”

Tax Guide for Canadians Buying U.S. Real Estate

Hello real estate investor, my name is Allan Madan; I’m a chartered accountant and tax expert in the Toronto, Mississauga and Oakville regions of Ontario, Canada. This short write-up aims to serve as a concise tax guide for Canadians buying U.S. Real Estate.

Tax Guide for Canadians Buying U.S. Real Estate Watch Video

Hello real estate investor, my name is Allan Madan; I’m a chartered accountant and tax expert

Tax Savings Strategies for Real Estate Agents in Canada Watch Video

This article discusses a unique tax saving strategies for real estate agents.

Tax savings strategies for Canadian real estate agents

This article discusses a unique tax saving strategies for real estate agents. If you are a real estate agent, then it is very important that you read this article.

How to Buy a Home with a Corporation in Canada Watch Video

If you are about to purchase a home and are self employed, then it is very important

How to Buy a Home with a Corporation in Canada

Français If you are about to purchase a home and are self employed, then it is very important that you read this article, because I am going to tell you how to buy a home with your company’s money, tax-free. The strategy entails taking money from your corporation and giving it to you on a … Continue reading How to Buy a Home with a Corporation in Canada

Real Estate Tax Planning in Canada

What should you know about tax when it comes to investing in real estate? As an Accountant in Mississauga and avid real estate investor, I have disclosed the tax secrets to real estate investing, below. By using these tax secrets, you’ll certainly save a ton in tax.

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