Posts

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The Danger of Reporting Multiple Years of Losses

A couple of months ago, I met with a real estate investor for an initial consultation. As part of the process, I asked him what his long-term goals are.  He said, “I would like to give up my job one day to volunteer full time and give…
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How to Pay 13.5% Small Business Tax on Rental Income

Did you see this headline – “Liberal government writes off $1.1B US loan, plus interest, docs show” on MSN.com? Federal government wrote off a loan made to Chrysler during the 2009 global economic meltdown. I believe in making progress…
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6 Little Known Facts About Structuring Joint Venture Deal in Real Estate

Back to school week! My daughter is in Junior Kindergarten this year. Since she had been in half day daycare five days a week last year, I didn’t expect to get emotional when she’s off to the full-day kindergarten on Tuesday. I…
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Contractors: Here’s a Quick Guide to Progress Billing

Thank you for the overwhelming feedback for my last week’s blog post about my dad. I am extremely grateful to be able to share such an inspiring life story. I consider myself as a gritty person because I have the best examples in my life…
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Ontario Landlord Watch Conference & 3 Common HST Scenarios When Building a New House

Today, I got the opportunity to speak to Kayla, the founder of a group called Ontario Landlord Watch. She has started Ontario Landlord Watch initiative since 2010, acting as a voice to our government advocating fairness among landlords…
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5 HST Planning Tips for Developers and Builders

This summer has been tough. A close client passed away suddenly at the age of 52, leaving his wife, his children, his family, friends and JV partners all in shock. At the visitation of his funeral, packed with his friends and families,…
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Lease vs. buy: How to get a new car that maximizes tax savings

Our lease on our Honda Odyssey was ending coming October. One of our friends got a plug-in hybrid earlier this year.  This plug-in hybrid is considered a “green vehicle” which would allow him to drive on HOV lane on 400 series highway. For…
buying Pre-construction Homes
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Case Study Follow Up: 5 Lessons Learned from Lily Buying MULTIPLE Pre-construction Homes

This is a special week for our family. We got to celebrate Fathers day with my father-in-law. We got to welcome the family of Sharmein, who’s our kids’ nanny, to our house. They arrived Tuesday evening. Sharmein understandably…

The CRA's Recent Court Order on Real Estate Flipping

How did you spend your Thanksgiving this past weekend? We spent the Saturday with a bunch of Superheroes delivering food baskets to 300 families at the Hamilton Basket Brigade . Delivering to 300 families was no easy job.  Normally,…
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Do You Make These Mistakes When You File Rental Income in Your Corporation?

Happy belated Easter everyone! I hope all of you enjoyed your Easter as much as I did. We are so fortunate that our neighborhood hosted an annual Easter Egg Hunt every Easter Sunday.  We have been participating ever since we moved here…