Posts

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…
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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…

The Secret of Making this Christmas the Best Ever and How to Effectively Donate Real Estate to Minimize Taxes

Erwin and I, together with a few friends, started the Hamilton Basket Brigade merely a year ago. We started from feeding 37 families last Christmas. We are feeding 200 families this coming Saturday. When the words spread out, we even got…
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How to Shelter Taxes in Canada for Foreign Investors

It’s been a long history that Chinese families like to send their kids away for school for different reasons. My dad grew up in a communist country. Even in a communist system, the families were ranked. The higher the ranking, the more…
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How to Deduct Your Home Mortgage Interest Using the Cash Flow from Your Rental Properties

For the majority of Canadians, we start our investing journey with saving up a sufficient downpayment to buy our first home. Over time, we pay down our mortgage. Our properties appreciate in value. Some people choose to pay off their mortgage…

How to Deduct Taxes with Gift Cards While Being a Nice Landlord

Erwin and I believe that if you treat people nice, most of the time, they will also treat you nice as well. Whenever we visit our tenants, we always try to buy some treats or gift certificates for them to enjoy. Most of our tenants appreciate…