Small business and real estate Archives - Page 13 of 14

How to Make More Money by Paying Higher Interest Rates on Your Incorporated Rental Portfolio

How to Make More Money by Paying Higher Interest Rates on Your Incorporated Rental Portfolio

One of the main complaints about owning your rental portfolio in a corporation is the increased interest rate, as compared to owning them in your own name. Of course, there are a few ways to get around this problem. If...

June 9, 2016

Real estate rant Small business and real estate

How to be Mortgage Free Before Age 30?

Three life lessons I wished I knew in my twenties. I studied the accounting program at University of Waterloo, one of the best in the country. The thing I love about this program is that it offers the opportunity for...

June 2, 2016

Right And Wrong Things To Do Paying Your Contractors Cash

Repairs and maintenance Small business and real estate

Right And Wrong Things To Do Paying Your Contractors Cash

Hello fellow real estate investors, With the Raptors’ first ever win in the Eastern Conference final, I had been spending my post tax season vacation time visiting my families and friends in Hong Kong with my two babies. It’s nuts...

May 25, 2016

Discover 4 Little Known Exceptions to Deducting Repairs & Maintenance Expense and 3 Common Real Life Examples

Other tax issues Real estate investment Small business and real estate

Discover 4 Little Known Exceptions to Deducting Repairs & Maintenance Expense and 3 Common Real Life Examples

Before the last blog post about the Federal budget update, we discussed the tax difference between repairs and capitalized expense. We also discussed the criteria used by CRA to evaluate whether an expense is considered current or capital in nature....

April 7, 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

Other tax issues Real estate rant Small business and real estate

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...

December 3, 2015

A Quick Look at the Federal Budget – How Does it Affect Us All?

Other tax issues Small business and real estate

A Quick Look at the Federal Budget – How Does it Affect Us All?

A couple days ago when I was driving to Toronto to visit a client, I heard Justin Trudeau’s radio comment about how much he doesn’t like the new Family Tax Cut and how it makes the rich richer. And he...

April 23, 2015

Real estate corporations Real estate investment Small business and real estate

Tax Tip from a Retired Accounting Firm Partner About Setting Up Corporations

Hello fellow real estate investors, Just before the holidays, I had the opportunity to meet up with my long-time mentor, a retired partner at the biggest accounting firm in Canada. His practice is built primarily around small business. A lot...

January 29, 2015

Other tax issues Small business and real estate

A Little Know Secret About HST Tax and How it can Impact Your Real Estate Business

In my last blog post, we talked about what the Montreal woman should have incorporated and how she should have reported the income as active business income to avoid the expensive tax in flipping houses. Unfortunately, income tax is not...

January 26, 2015

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Category: Small business and real estate