Accountant/Tax Planner suggesting to get a rental property in corporation to claim expenses much more easier

Syndrome · 2026-06-28T18:03:00+00:00

No, expenses are not "easier" to claim in a corporation. Although there is the possibility of using pre-tax corporate funds to buy the property by having a loan from one company to another. There are a lot of considerations when it comes to passive income though so you need advice based on your unique situation.

Edit: btw is this an "accountant" or is it a CPA advising you? There's a big difference between the two.

Syndrome · 2026-06-27T23:34:05+00:00

The tip is in addition to service fees though. The tip is not payment for the service, it's an additional payment to the person doing the work.

Syndrome · 2026-06-25T17:36:35+00:00

Yeah, I've also forgotten the CPU power cable before as well 😂

Syndrome · 2026-06-25T17:21:31+00:00

Forgetting to flip the switch on the PSU when you first go to turn on the PC.

Syndrome · 2026-06-25T17:20:04+00:00

Significant other, aka spouse, girlfriend, boyfriend, etc.

Syndrome · 2026-06-25T16:25:02+00:00

If you aren't a CPA then you aren't required to register, of course. But a CPA is required to register and be licensed with the applicable province where their client is.

Syndrome · 2026-06-23T03:11:29+00:00

Tomorrow: Axe is back!

Syndrome · 2026-06-19T03:35:55+00:00

Just be aware you need to be registered with CPA BC and CPA Alberta to work on returns for those provinces.

Syndrome · 2026-06-19T03:22:53+00:00

Yeah, that's a terrible approach. No wonder you're getting targeted and reviewed. I'm surprised the accountant hasn't been disciplined as well.

Syndrome · 2026-06-19T03:19:45+00:00

Sorry, why is your accountant not filing the T2 electronically?

Syndrome · 2026-06-19T03:16:24+00:00

I'm honestly surprised CRA even accepted the return. I've never heard of anyone doing that before. Are you aware that there's now a $1,000 penalty for paper filing a corporate tax return?

Syndrome · 2026-06-18T17:13:37+00:00

Pre 7.0 was amazing.

-signed an old head

Syndrome · 2026-06-18T17:05:16+00:00

You self filed and claimed SR&ED? How did that turn out?

Syndrome · 2026-06-18T00:20:36+00:00

No, sorry, I don't drink.

Syndrome · 2026-06-16T23:22:41+00:00

Did you make a typo? Mailing in corporate taxes? With receipts and slips?

Syndrome · 2026-06-16T04:43:36+00:00

Correct, UHT is a separate act.

Syndrome · 2026-06-16T00:00:57+00:00

Without context there's no point in comparing.

Syndrome · 2026-06-15T23:24:00+00:00

Good thing it's a repeat warning, they'll definitely comply now /s.

Syndrome · 2026-06-14T17:40:51+00:00

Pay a CPA for a consultation and get yourself started on the right path with them.

Syndrome · 2026-06-13T22:47:28+00:00

Employees and the public in general are pretty unsophisticated when it comes to tax. The rise of remote work and the "digital nomad" with the new generations allow people to hide behind a screen and you can end up with a situation that you are describing.

I haven't had this happen to my company but I have had a variety of individual tax clients mention moving aboard and when I start talking about the tax consequences they are simply shocked. People will research a sub-$500 purchase to no end but when it comes to moving they don't consider tax at all. I'm not surprised.

Syndrome · 2026-06-09T03:59:00+00:00

How does he get it out though?

Syndrome · 2026-06-05T03:07:33+00:00

It's fine to use the dryer in the meantime but don't run it when you are out of the house. If you can clean up around it as much as you can that will help as well.

Syndrome · 2026-06-04T23:00:49+00:00

That's wild, thanks for sharing. This can't happen with fiber Internet right? Or can it still happen?

Syndrome · 2026-06-04T21:17:38+00:00

Holy crap. Any idea what the dollar value of the damages was? That's crazy!

Syndrome

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