Cherry, Author at Real Estate Tax Tips

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...

October 23, 2015

Going From Donating to 6 Families to Starting Up a Private Foundation: Here’s How You Can Achieve It!

Other tax issues

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...

October 15, 2015

Real estate corporations

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...

October 8, 2015

The Little Known 4 Year Extension on Principal Residence Exemption After You Move Out!

Other tax issues Real estate investment

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...

September 24, 2015

How to Deduct Taxes with Gift Cards While Being a Nice Landlord

Other tax issues

How to Deduct Taxes with Gift Cards While Being a Nice Landlord

Erwin and I believe that if you treat people nice, most of the time, they will also treat you nice as well. Whenever we visit our tenants, we always try to buy some treats or gift certificates for them to...

August 27, 2015

Bruce Wayne’s Future Education: Why the 20% “free money” from the government really isn’t worth it?!

Other tax issues Real estate investment Real estate rant

Bruce Wayne’s Future Education: Why the 20% “free money” from the government really isn’t worth it?!

Hello real estate investors, We have nicknamed our son Bruce, Bruce Wayne (Batman), ever since we found out he’s a boy from the ultrasound. We are so used to this name that we decided to name him Bruce. Too bad...

August 21, 2015

Maximizing the principal residence exemption with your cottage

Other tax issues Real estate rant

Maximizing the principal residence exemption with your cottage

We are at our annual cottage trip this week enjoying the beautiful Wasaga beach. We are staying at our friends’ cottage nearby. Packing isn’t exactly the easiest thing. When we didn’t have kids, we would often wait until the day...

August 13, 2015

Purchasing a Vehicle With Your Real Estate Corporation

Other tax issues Real estate corporations

Purchasing a Vehicle With Your Real Estate Corporation

When we found out we were expecting Bruce, the first thing we did to get prepared was trade in my small sedan for an 8-seat minivan. It is a nice and highly rated van, big enough to accommodate our growing...

August 6, 2015

Other tax issues

Be Aware of the Price You Pay for Additional UCCB and other Invisible Taxes

I just got a letter from the government saying that the Universal Child Care Benefits (UCCB) is now increased to $160 per child for children under the age of 6. This is even retroactive to the beginning of this year....

July 24, 2015

Documentation matters when it comes to CRA audit

Other tax issues Real estate rant

Documentation matters when it comes to CRA audit

Starting in 2011, Canada Revenue Agency (CRA) has been going after the New Home HST rebate program for a few years now. Many of the new home buyers intended to move into the new homes, but circumstances change in the...

July 16, 2015

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Author: Cherry

Buying Real Estate in the US? Be Aware of All Potential Pitfalls

Going From Donating to 6 Families to Starting Up a Private Foundation: Here’s How You Can Achieve It!

Corporations: Why You Should Not Overlook the Flexibility of Having a Corporation

The Little Known 4 Year Extension on Principal Residence Exemption After You Move Out!

How to Deduct Taxes with Gift Cards While Being a Nice Landlord

Bruce Wayne’s Future Education: Why the 20% “free money” from the government really isn’t worth it?!

Maximizing the principal residence exemption with your cottage

Purchasing a Vehicle With Your Real Estate Corporation

Be Aware of the Price You Pay for Additional UCCB and other Invisible Taxes

Documentation matters when it comes to CRA audit

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