Recently I saw a question on social media about borrowing money from your small business corporation to purchase your primary residence.  “I run a small business in my corporation and have accumulated a large amount of savings in the corporation. ...

I recently had a casual conversation with my client. He’s currently working as a consultant for a small business who’s owned multiple stores in a grocery chain. His clients often asked him, ‘where did my money go?’ As a business...

I hope everyone had a great long weekend.  Even though we’re still in the lockdown state, we managed to spend some time in our pool and our backyard.  Erwin and I even squeezed us in for a round of golf. ...

Recently, I came across a Global and Mail article “Why you should consider income splitting to lower the family tax bill” and I thought it would be nice to provide my two cents on what you can do immediately to...

We build businesses in a proper corporate structure, so we get tax deductions and pay less tax. We invest in real estate because it creates long-term wealth. We trade stock options because it adds short-term cash flow. We purchase a...

A few weeks ago, we discussed the CRA criteria to deduct renovation expense – How to Write-off Renovation the Right Way.  Someone comment on social media that the rules are “clear as mud”.  😂😂 I mean, it is a fair...

Our Federal government cancelled the budget last year.  We incurred just under $354.2 billions of deficit.  This means that, between the tax revenue that they received vs. the spending that they had incurred, they over-spent by $354.2 billions. Their forecast...

A few days ago, I came across an article written by Jamie Golombek, CIBC Managing Director, Tax & Estate Planning on Financial Post. The title of the article is: “Difference between current and capital expenses has big tax consequences for...