Posts

What Every Real Estate Investor Ought to Know About Repairs & Maintenance Expense (Part 1)

Hope everyone’s enjoying the spring-like weather in the middle of March. My children are definitely enjoying spending their time outdoor at the park rather than being stuck at home all day long. :) Bruce even got to go on a swing the first…

5 Tips to Help Yourself Keep Proper Records for Canada Revenue Agency

It’s the time of the year again. Tax season is here and we are all busy wrapping our heads around preparing the tax returns. One real estate investor's clients asked me, "would we need to see all the receipts from her?" Some of them are…
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How to deduct full mortgage interest when turning your home into a rental property

Saving money is difficult here in Canada, especially in Ontario. When the government is charging over 50% personal income tax rate, for every dollar you make above the top bracket, you are only left with less than 50 cents to spend. My…
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3 Things You Need to Know About Deducting Your Line of Credit Interest

My real estate investing journey starts with the Toronto townhouse that I bought for myself. It has been fantastic and I couldn’t be more grateful to own this place. Within the first year, I refinanced it to take out sufficient amount to…
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How to Deduct Capital Cost Allowance in the Most Tax Advantageous Way?

I used to be afraid of public speaking. It made me sick just thinking about speaking to a crowd. Last Saturday I spoke at the Rock Star Member Event. There were 600 people in attendance! Amazing crowd as always! I was nervous at the…
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What Everybody Ought to Know about Property Flipping Taxation

I saw this interesting article written by The Vancouver Sun last Friday. It talks about the Canada Revenue Agency’s inability to go after the flippers for unreported income, which could be one of the causes for skyrocketing housing prices…

How to sell your Ontario business for millions of dollars QUICK?

Many of you knew that I came from an immigration family. My dad has his own contracting business in Hong Kong. The majority of his clients are banks, government institutes and charitable organizations who operate schools and hospitals. When…
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5 Ways to Take Money Out From a Corporation

I was doing the regular accounting class for Rock Star members this past Saturday. It was a full house. I presented the updated material incorporating all the tax changes that are happening in 2016 and forward. Specifically, the small…
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6 Tax Changes Coming in 2016 that Will Affect Your Real Estate Investing

Happy New Year everyone! I hope everyone got to enjoy the holidays as much as I did. I surely had a great time hosting a large Christmas party for our family this year. Thanks to Tony, my brother-in-law, we were able to enjoy some delicious…

Top five tax tips to minimize your 2015 personal income tax

2015 has been an amazing year. I gave birth to my son in the middle of the year. Time really flies and he’s now a healthy 20lb baby in just less than half a year. Our accounting practice grew substantially. We are still growing and we…