If you have a rental property, the basic write-offs include the interest you pay on your mortgage, property taxes, insurance, utilities (if you pay them), repairs & maintenance, property management fees, advertising, accounting fees, condo fees, and bank fees. Some repairs are expenses and some repairs are capital additions. Larger, more permanent improvements to the property must be capitalized and depreciated over a number of years. If you have ever or plan to ever use the rental property as a principal residence, then you must be careful to not disqualify yourself from claiming the Principal Residence Deduction. The Principal Residence Deduction is available on your home, and means you don't pay tax on capital gains of your own home when you sell it. If, at any time, you rent out...
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- Tax Services
- Bookkeeping
- Human Resources & Payroll Management
- Corporate Accounting
- Business Consulting
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Without WS I would have never know about the Small business Grant I Received this year....
Been with them for 6 years now.
They are always professional, they're quick, they get your maximum refund, and they are always willing to answer any questions you have.
Genuinely cares about her clients and does a fantastic job.
My company was just audited and Wendi handled it all for me.
I highly recommend her and she is very reasonable.
I've been with Wendi for a number of years after she looked over my previous years of tax returns from 3 separate accounting firms from Calgary to Kelowna and found gross errors in most of those returns.
After years of looking for a honest accountant I finally found Wendy and her staff at WS Accounting.
I have referred several of my clients to WS for Corporate and they are one of the best firms I have worked with so far.
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