Cherry, Author at Real Estate Tax Tips

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...

May 18, 2017

Real estate rant

The Bright Side of Self Reflection

Happy Mother’s Day to everyone out there celebrating it. It was Mother’s Day celebration at my kids’ part time Daycare this week. Both of my kids go to the same school on different days so I got to have two...

May 11, 2017

You Need to Use the ‘5 Second Rule’ to Get Anything Done & Here’s Why the 15% Foreign Buyers Tax Won’t Work

Other tax issues Real estate investment

You Need to Use the ‘5 Second Rule’ to Get Anything Done & Here’s Why the 15% Foreign Buyers Tax Won’t Work

Many of you have probably heard about 5 second rule before. Usually it is related to dropping food on the floor, but if you pick up the food within 5 second, you can still eat it. The 5 second...

May 4, 2017

Do You Make These Mistakes When You File Rental Income in Your Corporation?

Capital cost allowance Real estate corporations Real estate rant

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...

April 20, 2017

4 Tax Lessons Every Small Business Owner Needs to Follow

Other tax issues Small business and real estate

4 Tax Lessons Every Small Business Owner Needs to Follow

Recently I had a couple of gatherings with my old accounting firm colleagues. Back in the day, in order to get licensed we were required to work in an accounting firm to get experience. Many of the junior staff were...

April 6, 2017

Budget 2017: What You Need to Know as Small Business Owners & Real Estate Investors

Other tax issues Real estate rant Small business and real estate

Budget 2017: What You Need to Know as Small Business Owners & Real Estate Investors

This week marked the completion of our Crossfit Open 2017. It’s my first time participating in it and it was a lot of fun. I mentioned in my last blog post that I belonged to this 18-34 age group, mixed...

March 30, 2017

Canada Pension Plan: A good or bad investment?

Other tax issues

Canada Pension Plan: A good or bad investment?

I’ve been doing cross-fit for three years on and off. I still consider myself a beginner but I have to say, I’m a more experienced beginner now than a couple years back. There’re still lots of movements that I can’t...

March 23, 2017

How to Deduct Home Office Expenses for Real Estate Investors [REVISITED with CRA latest UPDATE]

Small business and real estate

How to Deduct Home Office Expenses for Real Estate Investors [REVISITED with CRA latest UPDATE]

I’ve shared on my blogs a few times about my involvement in helping out with a charity called the Hamilton Basket Brigade. We raise money, purchase groceries and assemble them into baskets that we donate to local Hamilton families who...

March 16, 2017

5 Tips to Determine Whether You Should Setup a 3 Tiered Corporate Structure to Own Your Business & Rental Portfolio

Real estate corporations Small business and real estate

5 Tips to Determine Whether You Should Setup a 3 Tiered Corporate Structure to Own Your Business & Rental Portfolio

January came and went. So has February. For those of you who are wondering if I am still sticking with my 4:30am wake up time, it’s getting bigger and better. March and April are the busiest time of the year...

March 9, 2017

Principal residence

Another Court Case of Principal Residence Exemption Gone Wrong

Recently, we’ve got friends and families approaching us for advice on real estate investing. One of our closest relatives, a couple of two high income individuals each earning over 6 figures, asked us where they could go next. They currently...

March 2, 2017

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Author: Cherry