Posts

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9 Tax Tips Canadian Amazon Reseller Should Know When Selling on Amazon.com

It was the summer long weekend.  We started our long weekend by celebrating my birthday at Niagara Falls. As we get older, it’s less about presents but more about presence and experience.  😊 This year, I decided to try the Whirlpool…
7 Steps You Must Take When Setting Up a New Corporation
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7 Steps You Must Take When Setting Up a New Corporation

Thursday is the election day in Ontario. It is so disheartening to see how much "new spending" is promised across all parties. Liberals don't look like they have a chance, but the options remaining aren't any better. This Global &…
Lessons Learned from Tax Season

5 Lessons Learned from Tax Season

HoHoHo!  April finally passed! I must thank my entire team for pulling through this tax season with me.  It’s not easy, and we have a lot of room for improvements. What better way to celebrate the end of tax season and the beginning…

3 Key Steps You Should Take Before Quitting Your Job (or Facing Any Obstacle)

A couple days ago, I had an consultation with a new client. He works as a teacher and he’s debating whether he should leave his job. He loves teaching but he hates all the politics around the job. Hence, he has a few properties on…
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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…

Is a new roof a one time write off or a depreciable expense?

My mom messaged me last week asking for an opinion on her loan arrangement. She is buying another parking spot in the condo complex that she currently has a rental unit. The whole plan is that my parents will be taking back the rental…
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7 Questions to Decide Whether You Should Incorporate (Part 2)

Irene, a long time friend of mine, came by to visit a couple weeks ago. Together with Jason, we were in the same study group when we wrote the Uniform Final Exam (UFE) 10 years ago! We all graduated from the same Bachelor of Mathematics…

7 Questions to Decide Whether You Should Incorporate (PART 1)

Corporations provide a lot of flexibility in tax planning but the immediate cost to setup and maintain can sometimes be difficult to bear, especially for new investors who barely make any cash flow from the properties. Whether you should incorporate…
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New Residential Housing Rebates: Be Aware of These Recent Court Cases!

I didn’t grow up with money. My family was relying on a lot of government help when I was young. We first got into temporary housing; a similar style to townhouses, except that they were built with metal and they were tiny. We applied…
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4 Tips to Organize Your Books and Records to Protect Yourself from a CRA Audit

I had an opportunity to sit down with a very inspiring lady yesterday. She’s Chinese, grew up in Singapore. She left Singapore in her early 20's to pursue a dream in Canada. She and I shared a very similar background. She’s the second…