Rental Income Reporting: The Red Flag Most Accountants Warn About

GROWTH PILLAR: Sales & Revenue WHO THIS IS FOR: SMB owners / Solopreneurs / Incorporated professionals / Anyone with rental income, business income, or investment activity WHAT THEY'LL GAIN: Practical CRA audit-proofing strategies, hard-won accounting insights, and clear guidance on when to stop filing your own taxes   Most business owners don't know they're waving a red flag at CRA until the nine-page letter shows up. Eric Sonego from Côté and Associates Professional Corporation has spent 30 years helping Canadians navigate the tax system — and in this Phoenix Business Exchange session, he tells it straight. CRA relies on computers and co-op students. That combination catches things that look wrong, even when they aren't. And if you're running a business, have rental income, or make investments, the odds of triggering a review go up fast. Eric walks through who should never do their own taxes, why popular tax software is currently facing a class action suit, and how a single mismatched postal code can kick off a full audit. He also covers the charity donation trap, the summer audit delay strategy, the disability tax credit most sick Canadians leave on the table, and why splitting a large donation across five years can keep you completely off CRA's radar. Côté and Associates operates across 11 offices in Canada and the US. Eric and his team handle everything from personal returns to corporate files — and they make sure your personal finances line up with your corporate picture before anything goes to the government. Connect with Eric: Côté and Associates Eric Sonego on LinkedIn CAPROS Blog Video Library Browse all episodes — K4B / ETW / CGN / PBEX   — PARTNERS ON THIS EPISODE — Phoenix Business Exchange — Join a PBEX session and connect with business owners who get it. Three times a week online, once a month in person. Profit10™ — Take the free Profit Snapshot and find out what's really holding your business back. Ten questions. No cost. Clear answers. Sterling Grace Technologies — Cybersecurity, IT, and business continuity for Canadian SMBs. Get a check-in before something goes wrong.   Next Steps Email: [email protected] Join Canada Growth Network — $1 CAD first month, $47 CAD/month plus GoHighLevel  Subscribe to the K4B blog Search K4B episodes Register as a K4B guest Join Phoenix Business Exchange Past episodes Disclaimer: Everything you heard today is for educational purposes only. It's not professional advice. Before you act on anything — talk to a certified expert in your area. Your accountant. Your lawyer. Someone who knows your situation.We share perspectives. You make the decisions.Want more? Head over to blog.knack4business.com — packed with practical episodes on AI, marketing, leadership, and growth. No fluff. Just the good stuff. Subscribe while you're there.Until next time; keep building. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.