Part IV: Building Value: Managing Your Investment and Seeing a Return in VS .NET

Printer PDF-417 2d barcode in VS .NET Part IV: Building Value: Managing Your Investment and Seeing a Return
Part IV: Building Value: Managing Your Investment and Seeing a Return
PDF-417 2d Barcode Reader In .NET
Using Barcode Control SDK for VS .NET Control to generate, create, read, scan barcode image in VS .NET applications.
Strategies either can involve hands-on involvement or be part of the general management of the property For example, the decisions to invest in maintenance or even do a complete overhaul of the property are examples of strategic decisions that can boost the property s value On the other hand, improving the tenant mix, raising rents, and giving tenants greater responsibility for utilities and services (topics we discuss as part of Managing Expenses, later in this chapter) are management strategies that involve taking a look at your books to see what can improve the property s performance We could remind you to check with your accountant (never a bad thing), but keep in mind as well that consulting firms exist that can help you devise a strategy to boost your property s value and overall performance Many appraisers also handle this kind of work, so talk to your local chapter of the Appraisal Institute of Canada (wwwaicanadaca) for references The real estate firm you deal with may also know consultants with the expertise you re seeking A simple Internet search for real estate consultant brings up people with diverse skills, so finding a consultant who can serve your needs may require networking until you find the one who s right for you
PDF-417 2d Barcode Drawer In .NET Framework
Using Barcode drawer for .NET framework Control to generate, create PDF 417 image in .NET applications.
Ongoing maintenance
Recognize PDF 417 In Visual Studio .NET
Using Barcode decoder for .NET Control to read, scan read, scan image in .NET applications.
In 13 we give you some tips on maintaining your property, and in 14 we focus on how maintenance allows you to minimize risk and ensure the long-term value of your property So what s left Well, maintenance expenses also factor on the return you file with the Canada Revenue Agency, so it makes sense to understand how they ll affect the amount of tax you pay now and in the future One of the most important distinctions your accountant will make when it comes to investing in maintenance is the difference between Current expenses, which you can write off for the tax year in which they re made, and Capital expenses, which you must deduct through the capital cost allowance for depreciation Your accountant can tell you the dollar threshold at which a simple expense becomes a capital expense Knowing the basic distinction between the two allows you to schedule maintenance and renovations in a way that delivers the best return on your investment through write-offs and the like
Paint Barcode In .NET
Using Barcode encoder for .NET Control to generate, create bar code image in .NET applications.
Current expenses
Scanning Barcode In VS .NET
Using Barcode reader for VS .NET Control to read, scan read, scan image in Visual Studio .NET applications.
Current expenses are the minor costs of operating a business In the case of an investment property, they can include
PDF-417 2d Barcode Drawer In Visual C#
Using Barcode generator for Visual Studio .NET Control to generate, create PDF-417 2d barcode image in Visual Studio .NET applications.
15: Accounting for Gain
PDF417 Creation In VS .NET
Using Barcode encoder for ASP.NET Control to generate, create PDF 417 image in ASP.NET applications.
Phone charges Advertising Cleaning and maintenance supplies Maintenance and landscaping services Property insurance Major equipment purchases and direct investment in the property itself, such as renovations, are capital expenses Typically, current expenses are inescapable Although you can economize on various operational costs, items like property insurance are annual costs that are difficult to avoid You either have them or you don t By the same token, greater control over current expenses will give you a better handle on your overall cash flow Knowing where your cash is going and when helps you assess your cash flow Analysis of your spending habits could prompt you to economize in some areas and boost spending in others Accounting software packages, a topic we discuss in 14, can help you crunch the numbers Scheduling regular payments so that you aren t hit with a load of expenses at any one time can help you achieve a stable cash flow with fewer strains and hiccups No sense letting bills pile up only to deal with them later, or to leave yourself open to a massive run on your bank account Paying all your bills at once may be a cathartic experience and we won t deprive you of it if that s the case but paying your bills gradually allows you to develop your savings steadily and brings greater discipline to your investing habits Current expenses are great when tax time comes around because you can use them to offset income earned Although you have to pay for them out of cash flow, in the case of a rental suite in your home the expenses related to the operation of the rental suite may completely offset the income you derive from the suite This may sound like a bad thing, but considering the rental suite is in your primary residence, the result is actually a more economical residence for you! Even if expenses don t completely offset taxes owing, they reduce what you have to pay even as they make your investment property that much more viable to operate Not claiming current expenses is the easiest way to leave money on the table at tax time Keep accurate records of expenses related to your investment property If you don t you ll risk missing out on deductions you re entitled to claim, which could hurt your investment s bottom line significantly
Generating PDF 417 In VB.NET
Using Barcode maker for VS .NET Control to generate, create PDF417 image in .NET framework applications.
Code 3/9 Creation In VS .NET
Using Barcode generator for .NET Control to generate, create Code 3/9 image in Visual Studio .NET applications.
Data Matrix Generator In .NET
Using Barcode generation for .NET Control to generate, create ECC200 image in Visual Studio .NET applications.
Generating Barcode In Java
Using Barcode creator for Java Control to generate, create barcode image in Java applications.
Barcode Generation In Java
Using Barcode creation for Java Control to generate, create bar code image in Java applications.
EAN13 Maker In VS .NET
Using Barcode creator for ASP.NET Control to generate, create EAN-13 Supplement 5 image in ASP.NET applications.
Data Matrix Encoder In Visual C#
Using Barcode creation for Visual Studio .NET Control to generate, create Data Matrix ECC200 image in Visual Studio .NET applications.