How to Prevent a CRA Audit

Video Description

Are you worried about how the CRA views your real estate transactions? Ever wondered what it takes to win a tax dispute involving property flipping? Join me in this must-watch episode where Dean Blachford from Blachford Tax Law Firm shares his deep expertise on handling complex tax disputes with the CRA with a special focus on the intricacies of house flipping and rental property sales. From avoiding tax court to understanding the tax implications of selling rental properties, Dean provides invaluable tips that could save you thousands. Don’t miss Dean Blachford’s upcoming FREE webinar on Tuesday, June 18th, 2024 on "How to Avoid a Large CRA Audit." Learn how to avoid common pitfalls and protect yourself from costly CRA audits. Sign up here: https://us06web.zoom.us/webinar/register/WN_6rxB3UKwSTuOhE4bILZJvw#/registration Key Moments In This Episode ======================== 00:00 Intro 02:16 Avoiding Tax Court 06:14 Tax on Selling Rentals 08:40 CRA's Criteria for Flips 12:41 Flipping Red Flags 14:36 Legal Flips & Taxes 18:03 CRA's ROI Focus 19:58 Large vs. Small Audits 23:44 Suspicious Construction Case 25:24 Winning with Evidence If you have any questions or thoughts after watching this video, leave a comment below, and I’ll respond as soon as possible. Don’t forget to subscribe to my channel for more videos on Canadian real estate and tax-saving strategies so you don’t miss a thing! ---------------------- Please make sure to speak to a professional that knows your personal situation before making a decision. If you need to talk to someone on my team, email us at [email protected]. ---------------------- SIGN UP FOR OUR NEWSLETTER Want to stay up-to-date with all the latest news about Real Estate Tax Tips, receive weekly tax tips and free real estate investment resources? Then subscribe to our newsletter here: https://realestatetaxtips.ca/youtube ---------------------- Want to PAY LESS TAX as a real estate investor? Check Out All of My Tax Saving Resources HERE: https://realestatetaxtips.ca/resource. ---------------------- FOLLOW ME ON SOCIAL MEDIA: Facebook:https://www.facebook.com/RealEstateTaxTips Instagram: https://www.instagram.com/realestatetaxtips/ ---------------------- ⭐Cherry’s Best Real Estate Tax Tips ⭐ ➡️Leaving Canada for U.S. Real Estate: https://youtu.be/1shCjBm-kRs ➡️How to Write-off Automobile Expenses as Employees: https://youtu.be/raMP02SYYyo ➡️Unfair 2024 Federal Budget Coming: https://youtu.be/06lpBnyeiPQ ➡️8 Essential Tax Tips for Real Estate Investors: https://youtu.be/mBn-qHzK0Jo ➡️Rent-To-Own & Private Lending Tips You Need To Know: https://youtu.be/S6iVcuSwoMA ➡️How To Claim Home Office Expenses (2024 Update): https://youtu.be/J3E0gQtKYIw ---------------------- DISCLAIMER: Real estate Tax planning is a personalized decision and will depend on your situation, priorities, and risk tolerance. Consult with your legal and tax advisors to ensure you get the best personalized advice. The information contained in this video is for general information purposes only. The information is provided by ECRB Consulting Inc., RealEstateTaxTips.ca, Cherry Chan Professional Corporation and Cherry Chan. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the article or the information, products, services, or related graphics contained on the presentation for any purpose. Any reliance on such information is, therefore, strictly at your own risk. In no event will we be liable for any loss or damage, including, without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of or connected with the use of this information. #CherryChan #RealEstateTaxTips #RealEstateInvesting #CanadianInvestors #RealEstateCanada #canada #taxes #CRA #CanadianRealEstate #RealEstateTax #HouseFlipping #CRAaudit