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Financial Tips For Real Estate Investors

Financial Tips For Real Estate Investors

By Fabio Campanella CPA, CA, CFP, CIM Way back in 2011 I wrote a column for the Toronto Star print edition (CLICK HERE for the full article). In it, I gave my top 5 financial recommendations for novice real estate investors. Even now, these are the same top...

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Yes, Your Bitcoin Profits are Taxable

Yes, Your Bitcoin Profits are Taxable

So you’ve gone ahead and made some money trading Bitcoin (lucky you, most of my friends lost a ton). But now what? Do you report this on your tax return? And if so, how? Bitcoin, and any other digital currency (DC) for that matter, can be a tricky subject when it...

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Deducting Life Insurance Premiums in a Corporation

Deducting Life Insurance Premiums in a Corporation

For various reasons a small business owner or incorporated professional may wish to enter into a life insurance contract via their corporation. But, are the premiums deductible for tax purposes? This depends, there are generally two scenarios in which premiums may be...

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Fast, Professional, Responsive – A Get It Done Attitude

Fast, Professional, Responsive – A Get It Done Attitude

CMLLP - Our approach is to be responsive to our customers We are always shocked when our clients are surprised at the speed with which we get things done at Campanella McDonald LLP (CMLLP). We recently had one client contact us to help with back taxes and specifically...

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3 Signs of a CRA Scam

3 Signs of a CRA Scam

Have you received a threatening phone call from the CRA asking for money or threatening your arrest? Join the club! CRA scams are on the rise and there is no shortage of scam-artists looking to help you part ways with your money by employing deceptive tactics aimed at...

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3 Reasons to Incorporate Your Small Business

3 Reasons to Incorporate Your Small Business

Running a small business isn’t easy and unless you’ve given entrepreneurship a go you really have no idea what entrepreneurs go through. At Campanella McDonald LLP we know entrepreneurs all too well. For starters, we are entrepreneurs ourselves having started our firm...

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Should High Schools Teach Personal Finance?

Should High Schools Teach Personal Finance?

I’ll get to the point: YES. Back in 2012 I wrote a column for the Financial Post titled: “Why you should study personal finance, not Shakespeare” CLICK HERE for the full article. Now this wasn’t a stab at Shakespeare, drama, English literature etc. It was a call-out...

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3 Tax Efficient Investing Strategies

3 Tax Efficient Investing Strategies

Do you invest money in a taxable account? If you do then an article I wrote for the Financial Post way back in 2011 is still relevant to you. In the article I explain three simple yet effective ways to improve the tax efficiency of your investment...

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CRA Audits and Your Social Media Accounts

CRA Audits and Your Social Media Accounts

Do you like posting your life to social media? Many Canadians do. But did you know that your social media accounts can be public and are fair game for Canada Revenue Agency (CRA) auditors? I bet you didn’t. In a Financial Post article dated October...

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5 Common Expenses for Real-Estate Investors

5 Common Expenses for Real-Estate Investors

By: Fabio Campanella CPA, CA, CFP, CIM One of the most confusing aspects of investing in real estate are the myriad of tax rules that have developed over the years. Understanding what can and can’t be deducted against your taxable rental income is as important as any...

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The CRA’s annual Office Audit Letter Campaign

The CRA’s annual Office Audit Letter Campaign

The Canada Revenue Agency (CRA) will soon be conducting its seventh annual Office Audit Letter Campaign.   This campaign targets a specific group of taxpayers that have demonstrated specific tax behaviour. This year, CRA is targeting about 30,000 taxpayers who...

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Tax Tip Tuesday: Paying Yourself a Salary vs. Dividends

Hi everybody. Welcome to Campanella McDonald's first Tax Tip Tuesday video instalment. Today we're going to talk about salaries versus dividends. So, a general rule of thumb for most small business owners is to take a salary that's large enough to max out CPP and RSP...

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