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What the Heck is Tax Planning?

What the Heck is Tax Planning?

As much as we're sure you love the CRA, we know you love money in your pocket more. That’s where tax planning comes in. Tax planning is pretty much exactly what it sounds — it’s how accountants arrange your business and personal matters to reduce and defer your...

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How To Compensate Your Investment Advisor

How To Compensate Your Investment Advisor

In this week's Weekly Tax Planning Tip video, Fabio explains why it's smarter from a tax perspective, all things being equal, to compensate your advisor via fees. Check out the video to learn why... Transcript:Hey everybody, Fabio Campanella here from...

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The Rules of Replacement

The Rules of Replacement

Replacement rules... what are they and when do they apply? Clients come to us misinformed on this topic all the time so we're clearing it up for you in this week's Weekly Tax Planning Tip Video. Enjoy... Transcript: Hey there, today we're going to talk about the...

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Trying To Decide If You Should Incorporate Your Business?

Trying To Decide If You Should Incorporate Your Business?

We get asked all the time whether or not we think people should incorporate. We look at it two simple ways and in this week's Weekly Tax Planning Tip we share our thoughts with you. Check it out... Transcript: Hi there. It's John Paul McDonald from Campanella McDonald...

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Part 3: How to build a personal financial plan

Part 3: How to build a personal financial plan

By Fabio Campanella CPA, CA, CFP, CIM Any business worth its weight in salt has a plan. But what about your personal affairs? In a surprising poll conducted by CIBC in 2017 46% of respondents stated that they do not have a financial plan in place for...

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Part 2: How to build a personal financial plan

Part 2: How to build a personal financial plan

By Fabio Campanella CPA, CA, CFP, CIM Any business worth its weight in salt has a plan. But what about your personal affairs? In a surprising poll conducted by CIBC in 2017 46% of respondents stated that they do not have a financial plan in place for...

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Part 1: How to build a personal financial plan

Part 1: How to build a personal financial plan

By Fabio Campanella CPA, CA, CFP, CIM Any business worth its weight in salt has a plan. But what about your personal affairs? In a surprising poll conducted by CIBC in 2017 46% of respondents stated that they do not have a financial plan in place for...

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Deducting auto expenses for businesses

Deducting auto expenses for businesses

By Fabio Campanella CPA, CA, CFP, CIM Like anything with the Canada Revenue Agency, the application of the rules related to deducting auto expenses are anything but straight forward. This article will be of interest to anyone who is self-employed and operating either...

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How are property fix and flips taxed?

How are property fix and flips taxed?

By Fabio Campanella CPA, CA, CFP, CIM Property Fix and Flips: What You Need to Know So, you’ve purchased a property, renovated it, and flipped it for a profit. How do you report this on your tax return? Well, it depends… The housing market in Canada, particularly in...

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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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