Tag: CRA

Many individuals live under the mistaken belief that death equals the end of tax obligations. They think that if they don’t sell their properties during their lifetime, their tax liabilities cease with their demise. However, this couldn’t be further from...

Are you looking for ways to make your primary residence mortgage tax-deductible? In this blog, we will explore a five-step process that can help you convert a non-tax-deductible primary residence mortgage into a tax-deductible one. By implementing this strategy, you...

In today’s current market, effective budgeting and financial management are crucial skills for individuals and businesses alike. Whether you’re striving for personal financial security or aiming to grow a successful business, understanding how to manage your money and make informed...

Today, we are diving deep into the world of income splitting. As Canadian taxpayers, I’m sure you’re all curious about how you can use this strategy to potentially lower your family’s overall tax liability!  You see, we operate under a...

Are you planning to renovate your property to create a common space for grandparents, parents, or other qualifying relatives?  If you are, understanding the Multigenerational Home Renovation Tax Credit [MHRTC] can help you leverage tax benefits and ease the financial...

Are you worried about managing the cash flow in your real estate portfolio? Do you know how to effectively manage your real estate investments? Cash flow management is a critical aspect of real estate investing that can greatly impact your...

Are you a landlord or an aspiring real estate investor seeking a more comfortable renting experience? Look no further! In this blog post, we’ll dive into an insightful interview with Hart Togman, the CEO of Rent Panda. We explore how...

Have you ever wondered if earning income through a corporation means paying twice the amount of taxes compared to individuals who earn income in their personal name?  This common misconception, often referred to as double taxation, has misled many individuals....

When you first start your business, it’s difficult to see when you’ll make money. A recent entrepreneur I spoke to had just started reporting net income for the first time after seven years in operation. As you can see, it’s...