deficit

How to Hide a $1.4 billion Deficit and Not Go to Jail

March is an exciting month for me. For one, I am almost certain that it will be the last March break that my older child will stay at home.  ☹  Next year, she’s going to JK and we will likely enroll her in a camp. (I can’t believe…
federal budget 2018
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Important Update on the Federal Budget 2018

I went to a conference in sunny San Diego for a few days last week. Like all the other conferences that I have been too, I learned a lot. Some are life lessons from Damon John and Dave Asprey, some are technical skills from various experts.…
7 bookkeeping mistakes
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7 Bookkeeping Mistakes a Real Estate Agent (and All Taxpayers) Should Avoid

Many people asked me how I did it – writing blog posts every single week for the last 3.5 years, accumulating over 150 blog posts today.  Trust me, it hasn’t been easy. I look everywhere for materials that can be relevant to my followers,…
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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…

The Tax Impact of Bitcoin and Cryptocurrency & One Last Tax Strategy Before the End of 2017

Bitcoin and cryptocurrencies seem to be a hot topic nowadays, so much so that one of my clients called to ask me the tax implications of trading them. The truth is, I know very little about bitcoin. I do, however, know a lot more about the…
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Frustrated With Organizing All Your Receipts? Take a Look at Some of These Accounting Software Solutions

I came across a National Post article about Ontario's fiscal update last week.  According to this article, with Ontario being the largest province in Canada, personal income tax revenues came in short by $2 billion than what the forecast in…
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#MeToo and Update on the Proposed Tax Change

Most of you have already heard of the sexual harassment stories of Harvey Weinstein, the powerful American film producer, who allegedly used his position to sexually harass and assault many actresses. Many actresses spoke up about Harvey…
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2 Steps to Counter the Proposed Tax Changes Now

We had a rare big family gathering last weekend, as Erwin’s cousin and his family visited from Hong Kong. One of Erwin’s younger cousins is planning his wedding for the coming year.  They are planning to have their wedding at a golf…
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Can Deducting Home Office Expense Affect Principal Residence Exemption?

I was at the Archangel Summit this past Saturday.  For those of you who don’t know about Archangel Summit, it is an event everyone should go to.  😊 It’s the 2nd year I participated in this event.  Last year was great, but this…
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Try this Little Known Secret to Stress Test your Portfolio for Interest Rate Hikes & a 2-Step Test to Determine Your Working Relationship as Subcontractor or Employee

We finally managed to purchase a new rental property and take advantage of the equity in our properties. We signed the mortgage paper on our refinancing and new rental property purchase yesterday. And then Bank of Canada finally announced…