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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, France is even beginning to sell Bitcoin in its tobacco shops! The hype surrounding cryptocurrency has caused my clients to call to ask me the tax implications of trading them. 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…
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Estate Planning Tip: Be Aware of these Pitfalls Using this Strategy to Avoid Probate & My Miracle Morning Routine Revealed

I listened to the audiobook The Miracle Morning written by Hal Elroy. It was nothing that I didn’t hear before, but it serves as a great reminder for me to continue my early morning commitment. Recently I have been slacking a bit with…
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6 Lessons I Learned from My 14th Tax Season

Last week was a hectic week for me.  I presented at my client, Martin Kuev’s Meet Up group in Vaughan, educating over 40 investors on whether they should incorporate to own their rental portfolio or not. If you are interested in learning…
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You Need to Use the '5 Second Rule' to Get Anything Done & Here's Why the 15% Foreign Buyers Tax Won’t Work

Many of you have probably heard about 5 second rule before.   Usually it is related to dropping food on the floor, but if you pick up the food within 5 second, you can still eat it. The 5 second rule I am talking about is a book written…