Real Estate Investing in Canada: Navigating Tax Laws and Regulations for Maximum Profit with Cherry Chan
Control and Compound with Darren Mitchell · Control and Compound Financial | BNV Media
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Show Notes
On today's episode, Darren welcomes Cherry Chan to the podcast! Cherry is a CPA and probably the most recognized real estate investing accountant in Canada and Darren and Cherry chat about how real estate investors can avoid paying unnecessary taxes when doing business. Tune in to this one, you don't wanna miss it!
Show notes:
00:00 - Introduction to Cherry Chan
6:20 - What taxes do you need to be aware of as a real estate investor
15:55 - Should you incorporate for tax purposes?
21:35 - New flipping rules
28:35 - PREC (Personal Real Estate Corporation) vs. small business
32:50 - How difficult is it to invest in USA
38:00 - Tax implications for Airbnbs
42:55 - Common tax questions
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