Chris Burylo interviewed by Jarek Bucholc
Real estate tax wizard, Chris Burylo, discusses strategies around optimizing your tax plan. We’re going to learn about some hidden treasures in the income tax act that could assist you immediately. Regardless of your level of expertise, you’re bound to learn something interesting and practical. More canadianrei.com
Taxing Your Real estate Structures, A Napkin Presentation - Chris Burylo, tax accountant, explores different options and tax consequences of a variety of strategies and structures surrounding your Real estate holdings.
Summary of Information Required for Rental Properties Revenues: 1. Rent Collected // Property Details 1. Original Purchase Price 2. Value of Additions & Improvements 3. Year of Acquisition 4. Style of Property (ie. Apartment, Townhouse, Single Family Home etc.) // Direct Expenses: 1. Interest on Mortgage 2. Utilities Paid 3. Property Taxes 4. Condo Fees 5. Maintenance & Repairs 6. Advertising Costs 7. Travel (if applicable) 8. Legal/Accounting 9. Property Manager Fees // Vehicle: 1. Vehicle Loan Details/Lease Payments 2. Purchase Price 3. Make/Model/Year 4. Gas 5. Maintenance 6. Insurance
Asset Protection & Risk Management. This two hour course will discuss some of the important topics in structuring your holdings in order to minimize liability and taxation. From the tools of a personal asset protection plan to some of the key features of transactions any real estate investor will be interested to consider. Topics include investment structure, co-ownership, joint ventures, shareholder agreements, mortgages, guarantees, and financing concerns. The principles of this course will apply to all investors as tools for their personal situation as they consider future deals.