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6 Tax Tips That Flippers or Renovators Should Not Miss

With the 1 million immigrants coming to Canada in the next 3 years (historically about 40% come to Ontario), it’s almost inevitable that we'll have housing shortages and crazy rental increases. It’s basic economic principal – supply…
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Top 10 Deductions a Real Estate Investor Should not Miss [Revisited]

2018 is an exciting year. I shared with all of you in an earlier blog post about my 'why', my reason for doing all that I do, which is to be the best I can be. To do this with my accounting practice, I’ve made some plans to provide…
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2 Strategies to Reduce Your Capital Gain Tax at Year-End

Recently I finished listening to the book Leaders Eat Last written by Simon Sinek. There's a lot of great advice, as usual, by Simon.  But one of the ideas that sticks with me the most was his comment about American politicians in the past…

Happy Birthday Canada and How to Calculate Capital Cost Allowance - Part 2

Happy 150 years old Canada! I have lived over half of my life here in Canada, more than 18 years and counting. I still remember the moment when we stepped out of the airport and saw the ENTIRE sky, I was stunned.   You may take…

How to Calculate Capital Cost Allowance - Part 1

I was away with the Rock Star team last week at an entrepreneur conference in Cleveland.   Dan Kennedy, the host, is a successful businessman and the guru in direct response marketing.   The conference was all about the business…
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Do You Make These Mistakes When You File Rental Income in Your Corporation?

Happy belated Easter everyone! I hope all of you enjoyed your Easter as much as I did. We are so fortunate that our neighborhood hosted an annual Easter Egg Hunt every Easter Sunday.  We have been participating ever since we moved here…
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4 Recent Tax Updates That Would Affect Principal Residence Deduction

It’s getting cold. Before it gets to freezing cold, we took our kids to a nearby farm to pick apples this past weekend. As we parked our car to enter the farm, we saw two bus loads of Chinese tourists entering the farm. I don’t…
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4 Ways to Minimize Taxes on Sale of Rental Properties

“Success is measured by inches, not miles.” For some of my long time blog followers, you know that my goal is to be able to do a strict pull up by the end of this year. I am still working toward that goal, slowly but surely. To…
calculate tax payable sale rental properties
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How to Calculate Tax Payable on the Sale of Your Rental Properties?

Hi fellow Canadian Real Estate Investors, It was my birthday weekend last week. Erwin arranged a surprised celebration party on Sunday with my best friends. He knows that I’m a geek so we once again went to an escape room. This time…