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Rental Properties Accounting


Rental Properties Accounting

Maximizing rental losses, minimizing rental income by ensuring all possible related expenses are deducted. Discussion of whether depreciation should be taken, and related recapture or terminal loss consequences.

01. Tax Optimization

We will go over all tax requirements related to rental income and construct a plan most suitable for you.

02. Efficient Service

We commit to you, our client, to respond to any communication from you within 4 business hours.

03. FREE 30-Minute Consultation

We commit that our service will be friendly, courteous and pleasant.

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How we do Rental Property Accounting the right way

Investing in a rental property in Toronto is a big decision that you need to be fully committed to. There are a lot of advantages such as increased income and tax deductions. If you are looking to invest in a rental property in Toronto, the S & W LLP Chartered Professional Accountants should be the first people to call!

S&W CPAs can help you minimize rental losses and maximize rental income by ensuring all possible related expenses are deducted. Our rental income accounting services include filing your Real Estate Rental form, which reports the income and expenses related to your rental property. Based on your circumstances, we will provide recommendation to whether you should claim capital cost allowance, which is an annual tax write off that you can choose to claim or not. The decision can be complicated and based on a whole host of factors, but our experienced team will go through the options with you and guide you to the option that will work best for you.

Looking to sell your rental property in Toronto? We can help with that, too! Our team is also fully equipped with the knowledge with dealing in selling rental properties. We will tell you if your rental property resulted in a capital gain or a terminal loss. We can then file your taxes based on that outcome.

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