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Cash Damming for Rental Property Owners

Cash Damming for Rental Property Owners is just as simple as it is for Proprietorships, however there may be fewer items eligible to write off and so extra care must be taken when determining what items may be paid in step 2. The process consists of the following 4 steps:

  1. Use your rental income to pay down your personal debts
  2. Borrow the money to cover the expenses incurred on the rental property (such as your mortgage on that property) that you would otherwise have used your rental income for
  3. Deduct the interest on the borrowed money
  4. Wisely spend your tax refund
The above may be executed in a number of different ways. Upon review of your current banking and debt situation we will be able to recommend the best solution for you. It may mean opening an additional personal chequing account or it may mean establishing an additional line of credit.

To contact us:

Arnold Machel, Certified Financial Planner
Visionvest Financial Planning & Services Inc.

15178 Buena Vista Avenue
White Rock, BC
V4B 1Y3


Cash Dam Web Site: www.cashdam.ca

Phone: 604-542-2818
Fax: 604-542-2819
E-mail: admin@visionvest.ca