Posts

Why Incorporation is the Way to Go for High-Earning Realtors

It was nice spending time meeting so many great people at Realtor Quest 2017 and the Rock Star Inner Circle member event. Despite the business of my schedule last week, I managed to take my Sunday off with my two lovely kids. Robin asked…
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How to Deduct Home Office Expenses for the Self-Employed

(Our last group workout at Radix Performance in Oakville. Source.) A few of my friends become first time moms recently. Being a new mom is not easy. Your body has to heal. You have to learn to breastfeed and you now have another life…
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How to Deduct Entertainment & Meal Expenses for Your Business

I am going to start off my blog post with some great news! First things first, I was finally able to do a rope climb! I’ve never in my life expected myself to be able to climb a rope and I did it this last Thursday! I expected it…
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How to deduct start up expense (coaching & membership) before purchasing a property

I recently joined the 5am club. You know how people say that all successful people start their day early – that is NOT the reason for me. I did it simply because – by looking at my daily routine with two kids, I feel that starting…
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How to Record a Proper AutoLog to Maximize Automobile Expense Deductions

I had an excellent week up north at a friend’s cottage. She recently bought a cottage so that her kids, raised in the city, could get to enjoy the outdoor and not be afraid of bugs and snakes and turtles. :) I got to slack off for a week…

How to Deduct Real Estate Education Courses and Membership Fees the Right Way

This is an exciting week. Other than the fact that this marks the 3rd last week of tax season this year (woo-hoo!), it is our first time having a booth at Real Estate Investment Network’s Real Estate Strategies Opportunities Solutions (Real…
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Discover 4 Little Known Exceptions to Deducting Repairs & Maintenance Expense and 3 Common Real Life Examples

Before the last blog post about the Federal budget update, we discussed the tax difference between repairs and capitalized expense. We also discussed the criteria used by CRA to evaluate whether an expense is considered current or capital in…

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…