Real Estate Investors & Landlords · London, Ontario
Accounting and tax for real estate investors and landlords in London, Ontario
Property rules change often and the stakes are high. We help you report it right and plan your next move.
What we handle
The tax and bookkeeping issues real estate investors and landlords face
Rental income and expenses
We report your rental income and claim the expenses you are entitled to, property by property.
Repairs versus improvements
Repairs are usually deductible right away. Improvements are added to the property cost. Getting this right matters at sale time.
Capital gains on a sale
We plan the sale, the timing and the principal residence designation so you keep more of your gain.
The property flipping rule
Profit on a residential property sold within 12 months of buying it is generally taxed as business income, with some exceptions. We check before you list.
How we help
Services for real estate investors and landlords
Every investor we work with gets a CPA who knows the industry, plain English answers and a secure online client portal.
Questions
Frequently Asked Questions
Should I hold my rentals in a corporation?
It depends. Passive rental income in a corporation is taxed at a high rate, so a corporation is not always better. We compare both options for your numbers.
Do I charge HST on rent?
Long term residential rent is generally exempt. Commercial rent is generally taxable. We confirm what applies to your properties.
What about HST on a new build?
New and substantially renovated homes come with special HST rules and possible rebates. Talk to us before you build or sell.
What our clients say
★★★★★
She takes the time to explain, educate and answer any questions. She simplified concepts and used examples that made it easier to absorb.
Amanda V
★★★★★
She has helped us with business and personal income tax for several years and we are ever so thankful for her expertise.
Joan B
★★★★★
Her friendly manner, professionalism and attention to detail is very impressive. I highly recommend Major Tax & Accounting.
Sandra R
Other industries we serve
We work with all kinds of owner managed businesses
Let’s talk about your properties.
Book a 15 minute call. We’ll listen, ask a few questions and tell you exactly how we can help.