Rental Income Tax Filing

Rental Income Tax Filing

We prepare and file tax returns for rental businesses. Your tax situation: You are an employer or sole proprietor, and you receive your income from rentals. Please, gather all relevant documents using Rental Income Checklist to attach to your personal T1 tax return package. Rental tax preparation fees start from $120 and increase depending on the complexity (ex: partnership).

Rental Tax Return Checklist

Do you have other sources of income and expenses?

Rental expenses

Rental income

T776 Statement of Real Estate Rentals

Advertising
Insurance
Interest and bank charges
Office expenses (pens, pencils, paper clips, stationery and stamps)
Professional fees (incl. legal and accounting)
Management and administration fees
Repairs and maintenance (incl. cost of labor and material)
Salaries, wages and benefits (incl. employer’s contributions)
Property taxes
Travel
Utilities (gas, oil, electricity, water and cable)
Motor vehicle expenses (not including capital cost allowance)
Other expenses

Personal Tax Return - Other Income and Eligible Expenses

We are a CPA firm