Entries by Cherry

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5 WAYS TO LOWER CAPITAL GAINS TAX ON SALE OF YOUR RENTAL PROPERTY

The previous article discusses how to calculate rental property capital gains tax on sale of your rental property. In this article, I discuss five ways that you can use to lower your capital gains tax when you sell your rental properties.   The Income Tax Act allows Canadian real estate investors to deduct expenses that are […]

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Top 10 Tax Deductions as a Real Estate Investor

Can you believe it’s November already? Our team is preparing for tomorrow’s client only webinar to go through our bookkeeping procedures with clients. It got me thinking, we should reiterate with everyone what real estate investors can deduct against their rental income. Watch today’s video on the top 10 tax deductions you shouldn’t miss as […]

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Fixed or Variable: if Bank of Canada Increases Rates 8x in the Next Two Years?

A couple of weeks ago, Financial Post released an article that says Scotiabank sees eight Bank of Canada interest rate hikes by end of 2023.  8 interest rate hikes!  Yikes! As a real estate investor myself, I couldn’t help but wonder – is this a good time to lock in the low rates by converting […]

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How to Write-off Medical Expenses as Business Deduction Legitimately

A handful of my self-employed clients recently reached out to ask us about Health Spending Accounts (HSAs).  HSAs are essentially self-insured health plans that allow employers to provide health care benefits to employees’ tax free.  Employers get to deduct the expenses and employees get to enjoy the benefits tax free. If used properly, real estate […]

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How to Turn a Sour Private Lending Deal to $150,000 profit in 2 years

A friend of mine entered a private lending deal in 2019. For those of you who don’t know much about private lending, basically, we get to be the bank and lend money to others and charge interest in return. There are a few advantages of private lending: You qualify to invest using your RRSP and […]