8 Essential Tax Tips for Real Estate Investors

[@RealEstateTaxTips]

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[@Rental12345]

Hello Maam I have a question to ask . Is there a way to contact u Maam. Thank you

[@RAF0769]

Thanks for sharing your knowledge

[@samseb840]

Can you use a capital claims allowance on depretiation on your condo.

[@marsidad1034]

Thank you for this video. You made a comment regarding home office deductions and principal residence use when you sell the home can you elaborate a little bit more on that? Does is it mean that when you sell the home your home you loose some of the principal residence deduction?

[@shruthic3403]

What happens if I already to FHSA if my first home is investment property? I can’t use FHSA for investment property, can I continue contributing to FHSA since i bought my first house as investment but not primary residence?

[@debbylo9991]

Thank you for the video! Are occupancy payments reported as an expense or capital investment?

[@stephenn88]

Do you recommend to hold rental in LLC? 2nd what is new equipment addition?

[@shinyl7947]

Thank you for providing the information. If I own a condo unit and rent it out for two years, reporting neither profit nor loss monthly due to high-interest rates. In the third year, I move in and stay a year, report it as my primary address. If I sell it in the fourth year and earn a profit, would I be liable to pay capital gains taxes?

[@stephenn88]

Yes 100%

[@shinyl7947]

@@stephenn88 Do I have to pay tax on the gain?

[@stephenn88]

@@shinyl7947 yes do you think you are smart and found a loophole ?

[@shinyl7947]

@@stephenn88 if I am smart, i don't need to ask the question in here, right?

[@Taimur_SK]

What if someone’s rental property is in Edmonton and he spends money on hotel and flights to manage the building of deck and fence. Can he claim full hotel and flight cost against the rental income?

[@BH-tr9xm]

My question also!

[@PhilYang-k8o]

If that was your sole purpose to manage your real estate

[@chineduogbonna6947]

Thanks Cherry for detailed educational video. How are losses on pre-construction assignments sales taxed? Do they qualify as business losses given they’re sold within 12 months?

[@stephenn88]

Yes

[@yeonsuchoi1721]

Thank you for the video!

[@RealEstateTaxTips]

Hope it was helpful!

[@slee6593]

Hey Cherry, do u do crypto taxes for 2024 and later 2025. Thanks in advance!

[@clementcle130]

Very helpful, thank you!

[@RealEstateTaxTips]

Glad it was helpful!

[@benjamins8082]

Hi Madam. I was wondering if you help me out. I have a rental. How long do i have to live in it without incurring capital gains tax?

[@11511mido]

Hi Cherry Can you shed some light in the new budget. There is new Accelerated Cost allowance for new rental properties. Thanks

[@RealEstateTaxTips]

Absolutely, stay tuned!

[@amandamcgee1984]

Please do a video on the new Capital Gains changes that were recently made. Thankyou😊

[@RealEstateTaxTips]

Just released a new video on the capital gain tax changes: Go check it out here kzbin.info/www/bejne/ZmfPoXWkrsqchrM

[@amandamcgee1984]

@@RealEstateTaxTips thanks, I've watched multiple videos and resorted to my tax software to get my answers. Thankyou!

[@stephaniemart6133]

Hello Cherry, i bought a new washer when the previous washer in the rental property is broken. In this case, is this expense cash expense or capital expense? Thanks

[@stephenn88]

Same model will be expense

[@stephaniemart6133]

@@stephenn88 hi do you mean cash expense?

[@stephenn88]

@@stephaniemart6133cash

[@MJ-cg8vp]

Be interesting to hear your opinions on how the 66% capital gain impact the housing market.

[@RealEstateTaxTips]

Stay tuned!

[@tianxiaodeng2448]

Hello Cherry, I got a mortgage statement from bank. There is a line indicate I have deferred interest. Am I allowed to put it into T776 as interest expense?

[@stephenn88]

You cannot