Experts In The Unique Challenges of Accounting For Real Estate & Property Management

We provide accounting and tax services to reduce your operating expenses, strengthen your cash flow and increase your profitability.

Tax Issues for Real Estate & Property Management Businesses

Need a yearly summary of income and expense deductions. Report income on T4A (net of HST).

Business Deductions for Real Estate & Property Management Businesses

Tax deductible expenses include:

  • Home office and office expenses
  • Automobile expenses
  • Gift and meals to clients
  • Referral fee (proof of fee paid needed)
  • Memberships and Professional Fees
  • Professional Insurance
  • Courses – You can include your tuition expense as a tuition credit on your personal tax return (Schedule 11, to be more specific). or you can include your tuition expense as an actual Expense on your personal tax return (T2125) – ask us.
  • Commission paid
  • Accounting
HST Issues for Real Estate & Property Management Businesses
  • If you earn more than $30,000 in commissions, you will be required to register and remit HST to the CRA. Ask us.
  • Your provider should exclude HST from your T4A income.
  • If you pay HST on a yearly basis, you may be required to pay HST instalments during the year. Ask us.

Accounting Issues for Real Estate & Property Management Businesses

  • Trust account tracking – keep separate accounts for the company and the buildings.
  • Use an appropriate property management system. Ask us about your options.
  • CRA requires withholding tax to be paid during the year for non-resident investors/ property owners. Ask us.
  • Use tracking categories when tracking income and expenses from multiple properties. Ask us.
  • Set up a proper chart of accounts to fit your operations and for each property.

Accounting Plus Testimonials

Accounting Plus Testimonials

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Trusted Accountancy For Over Two Decades

  • The Accounting Plus is our medical business' financial company which provides us with accounting, financial planning, and tax planning services. The w... Read More
  • I've been working with Peter Edrey and his people at Accounting Plus for about 18 years. Just like any relationship, things are not perfect 100% of th... Read More
  • Cannot say enough good things about Peter and his team. Knowledgable, efficient and responsible are just some of the adjectives to describe them!!
  • I am working with accounting plus since 1996, when it was a one man office ( Peter ). Well I have only good words to express my satisfaction from the... Read More
  • Business returns always done professionally with attention to detail. Keep up the good work

Start Growing Your Business Today

Speak with one of our accounting and tax specialists and discover how we can help grow your business.