The Ultimate Saving Machine
I am in the process of restructuring our portfolio. It’s often at this time when we deal with the bank that we come to realize how much our real estate portfolio has done for our family. When I bought the...
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 Guide to Airbnb taxation to Real Estate Investors
Last week I finally found a place in Florida to stay for our February trip. Last year, we planned a cruise trip. Like all the cruise trips we had been on, we booked an early flight to Fort Lauderdale the...
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. If you’re lucky, you might be able to secure a mortgage with a very low down payment. Over time,...
The Top Ten Expenses You should Not Miss as a New Real Estate Investor
A few weeks ago, I discussed the election available for Tony, my brother in law, who recently turned his principal residence into a rental. Congratulation to him–he now found a tenant who would stay there for two years. Tony is...
How to Pay Yourself and Defer Taxes with Your Income Properties
“Can I charge myself property management fees?” Many Canadian real estate investors have asked me this, or similar questions, before. You know this type of real estate investor. They manage their properties directly. They spend the time commuting back and...
Buying Real Estate in the US? Be Aware of All Potential Pitfalls
Erwin and I were very lucky to score a pair of Blue Jays playoff tickets last minute on Monday for the fourth game. For all the time I’ve been in Canada, close to 20 years now, the Blue Jays have...
Going From Donating to 6 Families to Starting Up a Private Foundation: Here’s How You Can Achieve It!
“Can we afford this?”, that’s the question Erwin and I asked ourselves multiple times. We are going to start a charitable foundation called the Basket Brigade, and the main mandate of this foundation is to provide dinners to families who...
Corporations: Why You Should Not Overlook the Flexibility of Having a Corporation
It’s that time of the year again. It’s rainy and it’s getting cold. For accountants, it’s the less busy time of the year. Many of us use this less hectic time at various professional development courses to update ourselves. It is...
The Little Known 4 Year Extension on Principal Residence Exemption After You Move Out!
Congratulations to my brother in law, Tony, who has recently become a real estate investor. He’s in the process of turning his principal residence into a rental property and planning to rent afterwards. Most real estate investors are aware that...