Cherry, Author at Real Estate Tax Tips

The Tax Impact of Bitcoin and Cryptocurrency & One Last Tax Strategy Before the End of 2017

Bitcoin and cryptocurrencies seem to be a hot topic nowadays, France is even beginning to sell Bitcoin in its tobacco shops! The hype surrounding cryptocurrency has caused my clients to call to ask me the tax implications of trading them. ...

December 14, 2017

The Future of Accounting is Mind Blowing & Interest Deductibility on Shareholder Loan

Small business and real estate Uncategorized

The Future of Accounting is Mind Blowing & Interest Deductibility on Shareholder Loan

I attended Quickbooks Connect 2017 in Toronto last week. It was the first year that I attended. I got to speak at one of their events, and I was completely blown away from the value I got out of it....

December 8, 2017

2 Strategies to Reduce Your Capital Gain Tax at Year-End

Capital cost allowance Real estate investment

2 Strategies to Reduce Your Capital Gain Tax at Year-End

Recently I finished listening to the book Leaders Eat Last written by Simon Sinek. There’s a lot of great advice, as usual, by Simon. But one of the ideas that sticks with me the most was his comment about American...

December 1, 2017

Frustrated With Organizing All Your Receipts? Take a Look at Some of These Accounting Software Solutions

Other tax issues Small business and real estate

Frustrated With Organizing All Your Receipts? Take a Look at Some of These Accounting Software Solutions

I came across a National Post article about Ontario’s fiscal update last week. According to this article, with Ontario being the largest province in Canada, personal income tax revenues came in short by $2 billion than what the forecast in...

November 23, 2017

The Other Side of Real Estate Investing Nobody Talks About

Real estate rant

The Other Side of Real Estate Investing Nobody Talks About

We are real estate investors and coaches. As coaches, we tell our clients to hire property managers. As a minimum, we tell them to budget for property management fees. Both residential and commercial property maintenance are very important. Both Erwin...

November 16, 2017

5 Impacts on Transferring Rental Properties into a Corporation

Articles Corporation Real estate corporations Real estate investment Real Estate Investors Rental Property

5 Impacts on Transferring Rental Properties into a Corporation

Real estate investors usually start investing in their personal names. It’s easy, simple, and the cheapest form of ownership. Once they test the water, many of them decide that they will continue their investing journey. Some investors even take it...

November 9, 2017

The Proposed Tax Changes Won’t Affect the Most Wealthiest Canadians

Real estate rant

The Proposed Tax Changes Won’t Affect the Most Wealthiest Canadians

Recently I have been taking some portrait classes. When I was a teenager, one of my favourite things to do was to draw and paint. I did a lot of that in school. At one point, I applied to become...

November 2, 2017

#MeToo and Update on the Proposed Tax Change

Other tax issues Real estate rant Small business and real estate

#MeToo and Update on the Proposed Tax Change

Most of you have already heard of the sexual harassment stories of Harvey Weinstein, the powerful American film producer, who allegedly used his position to sexually harass and assault many actresses. Many actresses spoke up about Harvey since the initial...

October 26, 2017

2 Steps to Counter the Proposed Tax Changes Now

Other tax issues Small business and real estate

2 Steps to Counter the Proposed Tax Changes Now

We had a rare big family gathering last weekend, as Erwin’s cousin and his family visited from Hong Kong. One of Erwin’s younger cousins is planning his wedding for the coming year. They are planning to have their wedding at...

October 19, 2017

The CRA’s Recent Court Order on Real Estate Flipping

Real estate investment

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, Erwin...

October 13, 2017

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Author: Cherry