, ,

Unfair Proposed Tax Changes Entrepreneurs Need to Know About

Nothing makes me more upset when reading this consulting paper released by the Finance Minister this past Tuesday. Our government always seems to forget, the objective behind taxing people is to raise sufficient funds to provide for our…
,

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…

What's the Tax Impact of Hiring a Subcontractor vs. an Employee?

We had a fantastic long weekend. We had a blast hosting two parties at home, celebrating Canada’s 150 birthday and my son’s birthday. Time flies.  He’s already 2 years old.  He can play by himself quietly with my daughter.  He…

A Secret to Achieving Success & 2 Court Cases to Help You Determine Your Eligibility for Business Expense Deductions

People always say that if you want to achieve your goals, the fastest way is to learn from those who came before us. Like doing wall walk at the gym, for the longest time I couldn’t do this movement.  Thanks to my awesome coach Rachael…
, ,

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…
,

4 Tax Lessons Every Small Business Owner Needs to Follow

Recently I had a couple of gatherings with my old accounting firm colleagues.   Back in the day, in order to get licensed we were required to work in an accounting firm to get experience.  Many of the junior staff were indeed fresh grads…
, ,

Budget 2017: What You Need to Know as Small Business Owners & Real Estate Investors

This week marked the completion of our Crossfit Open 2017.  It’s my first time participating in it and it was a lot of fun. I mentioned in my last blog post that I belonged to this 18-34 age group, mixed together with the best…

How to Deduct Home Office Expenses for Real Estate Investors [REVISITED with CRA latest UPDATE]

I’ve shared on my blogs a few times about my involvement in helping out with a charity called the Hamilton Basket Brigade. We raise money, purchase groceries and assemble them into baskets that we donate to local Hamilton families who are…
,

5 Tips to Determine Whether You Should Setup a 3 Tiered Corporate Structure to Own Your Business & Rental Portfolio

January came and went. So has February. For those of you who are wondering if I am still sticking with my 4:30am wake up time, it’s getting bigger and better. March and April are the busiest time of the year as a public accountant.…
,

How to Take Cash Out from Your Corporation and Lower Your Tax Liability?

Happy belated Valentine’s Day to all of you. Erwin and I had a very uneventful Valentine’s day. We spent the day resting at home, trying to rest and recover from our illnesses. I got a very nice present from him – a MUSE headband…