Podcast Episode 14: “Tax Charity Scam.”
Fighting with tenants over small amounts of rent or security deposits is almost never worth it. Unhappy tenants can falsely report you to the Canada Revenue Agency (CRA) and trigger audits. Tax schemes that promise deductions much larger than a charitable donation are almost always found to be shams and disallowed by the CRA. You will almost certainly lose your deduction and the charitable donation itself along with spending huge amounts of money on legal and accounting fees.
Download the audio file (Mac control + click + “save as” / PC right click + “save as”) HERE.
The full-text version of this Tale from the Trenches can be found HERE.
Contact Barry McGuire now. Alberta real estate needs an Alberta lawyer.