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Tax Tip from a Retired Accounting Firm Partner About Setting Up Corporations

Hello fellow real estate investors, Just before the holidays, I had the opportunity to meet up with my long-time mentor, a retired partner at the biggest accounting firm in Canada. His practice is built primarily around small business. A lot…
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A Little Know Secret About HST Tax and How it can Impact Your Real Estate Business

In my last blog post, we talked about what the Montreal woman should have incorporated and how she should have reported the income as active business income to avoid the expensive tax in flipping houses. Unfortunately, income tax is not the…
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Montreal Woman Gets Slapped by CRA: What You can Learn and Need to know from Her Shortcomings

Happy New Year everyone :) My family and I just came back from one week long vacation in Florida. Despite the flight delay which caused us to miss the cruise we were supposed to go on, the weather was fantastic and the Ft Lauderdale beach…
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Buying A New House or New Condo – What Do You Do With Your HST Rebate?

Hello fellow real estate investors and real estate agents, Many investors and clients prefer buying brand new houses for obvious reasons. Out of the stack of legal documents the buyers are asked to sign, one of them is a declaration that the…

Discover Secret Vehicle Expense Deductions for Your Rental Properties and Small Business

Hello fellow real estate investors and small business owners, Ever since Robin was born, we noticed that a small 4-door sedan just isn’t big enough for a family of four (including our furry baby, Jackson, a 50lb German Sheppard mixed). We…
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Have You Saved Yet?: Looking at the Ontario Retirement Pension Plan in Comparison to Real Estate Investing

Have you saved today yet? If not, don’t worry. The Ontario government will help you! Our liberal Premier decided that they would help Ontarians save for their retirement by implementing something similar to the Canada Pension Plan, called…
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Become Best Friends with Your Accountant (And Happy Halloween!)

Robin was invited to her very first Halloween party this year. It is that time of the year, happy Halloween! Leaves are falling and temperature is dropping. Raptors just started their season! As an accountant, fall is considered down-time…
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Everything You Need To Know About Rent-to-Own Real Estate Taxation (Part 2)

In my last post, I discussed what factors were involved in determining whether or not an RTO (rent-to-own) arrangement should be considered as a business or capital in nature. I also mentioned that the 3 streams of income the landlord receives…
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Everything You Need to Know About Rent-to-Own Real Estate Taxation (Part 1)

This post is really important. It's basically the whole reason why I started this blog. You see, I've been doing accounting work for many years now, and have spent quite a bit of time involved with real estate as well. One thing I've noticed…
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Rent to Own Programs: The Best Passive Income Real Estate Investment in Canada

This year marks the 15th anniversary of my time spent living in Canada. I wake up every morning feeling grateful to live here in an established economy with freedom. Thinking back home to Hong Kong, where the housing market is so outrageous,…