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

  • Excellent knowledge and advice given by Peter and his staff. Always willing to help with any issues or questions. All the staff we have dealt with are... Read More
  • In our family, every year there is some change in tax preparation needs. Someone gets older, some family member moves out of the country, then comes ... Read More
  • The Accounting Plus is our medical business' financial company which provides us with accounting, financial planning, and tax planning services. The w... Read More
  • My family has been dealing with accounting Plus for many years I have joined two years ago and I can only say I am extremely happy and satisfied with ... 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

Start Growing Your Business Today

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