With US tax season upon us, I wanted to highlight some changes that may affect you. Specifically, I want to focus on the new Form 8938, which is just one of many forms that U.S. taxpayers with non-U.S. assets must file. This is another tool that the US is using in its continuing efforts to [...]
New partnership reporting rules
Legislation and policy are two different things with Canada Revenue Agency. Legislation is the rules, and policies are how they are enforced. One of these enforcement changes has particular interest for real estate investors in partnerships, and may catch many real estate investors and other partnerships off-guard. For partnerships, the CRA has changed an administrative [...]
Trust filings and interest payments…important dates
For those who have a trust, the trust filing deadline is March 31, 2011. We have two important reminders related to this deadline: Please forward us the accounting documentation for completing the trust’s financial statements and tax return by the end of January. It is absolutely critical that if the trust has any loans to [...]
T4 and T5 reminder
The filing deadline for T4 and T5 reporting is February 29, 2012. Yes…it’s a leap year! If you require our help to prepare the forms, please send us your information by mid January. If we have your information already, please confirm that we will be preparing T4s or T5s for you. Please email Cynthia (cynthiaparent@dubecuttini.com) [...]
Merry Christmas…seeing you in the New Year
Merry Christmas from our team and best wishes for the holidays! We appreciate your time, efforts and business. No matter what holiday you may be celebrating, we wish you and your family and friends a relaxing and happy holiday and incredible New Year. Holiday Office Hours As is our tradition, our office is closed at [...]
Beware of fraudulent emails from CRA
We have had a number of clients ask us about suspicious emails they’ve received that claims to be from Canada Revenue Agency. To help combat this problem, CRA has issued a series of warnings about email scams that are currently circulating. The CRA has posted an article outlining what you should beware of when you [...]
Making online payments to CRA…a quick how to
People often ask us what options they have for making payments to CRA. If you want to avoid a trip to your local CRA office, one option is to make online payments. There are some restrictions when making online payments. For example, the banks from which you can make the payments are limited. As well, [...]
Insiders’ Guide to Real Estate Accounting
Our clients expect us to provide the “insiders’” perspective on real estate accounting issues. We had the good fortune of presenting some of this insider knowledge to a group of investors in Ottawa at the monthly OREIO (Ottawa Real Estate Investors Organization) meeting. The presentation covers: Choosing a real estate accountant When, if ever should I incorporate? New [...]
Real Estate Investing in the United States: Accounting and Tax issues
We are often asked about the main issues that Canadians should consider when investing in the United States. We had the good fortune of presenting some of these issues to a group of investors in Ottawa at the monthly OREIO (Ottawa Real Estate Investors Organization) meeting. The presentation covers: Structure Liability Withholding taxes Income, capital gains and [...]
Accounting & tax issues for real estate investors…the video highlights
Andrei Angelkovski, of www.beachinvesting.com, interviewed George on accounting and tax issues for real estate investors for his blog. The interview covered: 1. Should we incorporate or not? 2. What are the top 3 things people think they can expense but cannot? 3. What are 3 tips you would offer real estate investors about accounting and tax? [...]
