We offer Real Estate Accounting Services and Tax solutions
Tracking your rental income and business expenses throughout the year is essential for accurate Canadian tax filing. Whether you own a single-family rental in the GTA, a multi-family property, or operate a sole proprietorship, keeping organized records ensures you claim every eligible deduction on your T1 return and avoid costly errors.
Our free Income & Expenses Summary spreadsheet is designed to help Canadian landlords and small business owners organize their finances on a month-by-month basis. The template covers all common CRA-recognized expense categories, including advertising, insurance, mortgage interest, property taxes, repairs and maintenance, utilities, legal and accounting fees, and more.
This Excel spreadsheet includes a 12-month breakdown (January through December) with automatic totals for the following categories:
This template is ideal for Canadian taxpayers who earn rental income or operate a small business, including:
The CRA requires rental property owners to report income and expenses on Form T776 (Statement of Real Estate Rentals), while business owners report on Form T2125 (Statement of Business or Professional Activities). Having your records organized in this template makes it straightforward for your accountant to prepare these forms accurately and maximize your deductions.
If you have questions about which expenses are deductible, HST implications on commercial rentals, or how to handle capital improvements versus repairs, our team at Real File CPA is here to help. We serve clients throughout the Greater Toronto Area, including Markham, Scarborough, Richmond Hill, and beyond.
Download the template below and start organizing your rental or business income and expenses today. Once completed, upload it directly to the Real File CPA Client Portal for secure processing.
Filing U.S. personal taxes as a Canadian resident can be complex, especially when navigating cross-border tax obligations. Whether you are a U.S. citizen living in Canada, a green card holder in the Greater Toronto Area, or a Canadian with U.S.-source income, having a comprehensive tax checklist is essential to staying compliant with the IRS for the 2025 tax year.
At Real File CPA, we specialize in U.S. and Canadian cross-border tax preparation.
You may need to file a U.S. tax return if you fall into any of the following categories:
Even if you owe no U.S. tax, you may still have filing obligations including FBAR (FinCEN 114), FATCA (Form 8938), and other international information returns.
To ensure a smooth and accurate filing, gather the following documents before your appointment:
We have prepared a detailed checklist to help you organize your documents before filing. Download it below or visit our website at Realfilecpa.com to access it directly.
For security purposes, please upload all sensitive documents directly to the Real File CPA Client Portal rather than sending them by email.
Our 2025 Canadian Tax Checklists are now available and are attached for your completion. They have also been posted on our website at Realfilecpa.com for your convenience.
To ensure we have sufficient time to complete your filings accurately and on schedule, we kindly ask that you provide your completed checklist and supporting documentation as soon as possible.
Please note that the 2025 U.S. tax checklist will be sent under separate cover, as there are important tax changes that require additional attention this year.
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