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How to Earn Extra Income & Stay on the Right Side of CRA

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…
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Court Case Revealed How to Deduct Rental Losses Legitimately

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…
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3 Federal Budget Winners for Investors

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…
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How to Write-off Renovation Expense the Right Way

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…
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Buying a Tesla and Save $24,860 of Tax Immediately

We had been helping many real estate agents setup corporations in the past few months.   Many of them are high income earner, high commission income with little deductions.  One thing we suggested to those who are interested…
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Landlord Credit Bureau: Another Tool Added to the Landlord’s Toolbox

It’s March 18.  Our team is getting extremely busy during tax season.  With the lockdown rules changing by the minute, we were fortunate enough to visit a ski hill for a couple of runs this past weekend.  I learned skiing…
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Top Tips on Turning Primary Residence Mortgage to Tax Deductible Mortgage

Recently, our team has been getting a lot of questions about cash damming and how to turn a non-deductible primary mortgage into a deductible mortgage, also known as smith maneuver.  It would be nice to take today’s blog post to talk…
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Top 10 Tax Deductions Real Estate Investor Should Not Miss

Today is a big day.   Today is the first day of 3-day full day training for our March Stock Hacker Academy beginner course. We added in an all-new day to make sure our students can get the most out of it.  As always,…
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Top 5 questions asked about RRSP & TFSA

I just finished a webinar on how to use RRSP & TFSA to split income with low income spouses and minimize overall family taxes for my clients last Friday.  It is RRSP contribution season right now.  I thought I would take…
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The Ugly Truth About Primary Residence Exemption

Happy Lunar New Year.  I spent the New Years Eve last night sharing about my journey with stock hacking.  It was a tough presentation to do, given that I wasn’t the subject matter expert.   If you missed it,…