Cherry, Author at Real Estate Tax Tips

5 Tips to Help Yourself Keep Proper Records for Canada Revenue Agency

Its the time of the year again. Tax season is here and we are all busy wrapping our heads around preparing the tax returns. However, with these few simple steps below, it should be easy enough to sort out your...

March 11, 2016

How to deduct full mortgage interest when turning your home into a rental property

Other tax issues Real estate investment

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...

March 3, 2016

3 Things You Need to Know About Deducting Your Line of Credit Interest

Other tax issues Real estate investment

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...

February 25, 2016

How to Deduct Capital Cost Allowance in the Most Tax Advantageous Way?

Other tax issues Real estate investment Real estate rant

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...

February 19, 2016

Real estate rant

Build A Successful Life You Can Be Proud Of

I had the pleasure to work with this young couple who just opened up their first business, a Freshii franchise located at Rutherford Rd and Bathurst in Vaughan. This couple inspired me. They are young, they are energetic and they...

February 4, 2016

What Everybody Ought to Know about Property Flipping Taxation

Other tax issues Real estate rant

What Everybody Ought to Know about Property Flipping Taxation

Home flipping has become a very attractive business opportunity for a lot of real estate investors. However, those new to property flipping might end up confused with the different tax regulations and laws they need to follow and could even be...

January 28, 2016

How to sell your Ontario business for millions of dollars QUICK?

Real estate rant

How to sell your Ontario business for millions of dollars QUICK?

Many of you knew that I came from an immigration family. My dad has his own contracting business in Hong Kong. The majority of his clients are banks, government institutes and charitable organizations who operate schools and hospitals. When he...

January 21, 2016

5 Ways to Take Money Out From a Corporation

Other tax issues Real estate corporations Small business and real estate

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 business...

January 14, 2016

Other tax issues Real estate corporations Real estate investment Small business and real estate

6 Tax Changes Coming in 2016 that Will Affect Your Real Estate Investing

Happy New Year everyone! I hope everyone got to enjoy the holidays as much as I did. I surely had a great time hosting a large Christmas party for our family this year. Thanks to Tony, my brother-in-law, we were...

January 7, 2016

Top five tax tips to minimize your 2015 personal income tax

Other tax issues

Top five tax tips to minimize your 2015 personal income tax

2015 has been an amazing year. I gave birth to my son in the middle of the year. Time really flies and he’s now a healthy 20lb baby in just less than half a year. Our accounting practice grew substantially....

December 23, 2015

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Author: Cherry