Smarten Up with JP & Fab

In this episode JP and Fab discuss tax depreciation or "CCA" for rental properties in Canada. They cover: What is CCA? When should you take CCA on a rental property? When you should not take CCA on a rental property? The limitations of CCA If you are a real estate investor in Canada then this is the podcast for you.

In this episode, JP and Fab interview Matthew Ordower of Ordower Law. They cover: The process of shutting down or "dissolving" your small business corporation What you should consider before you dissolve your business The potential legal and tax pitfalls you may encounter if you dissolve too early Other strategies that can be employed instead of dissolving the business If you're a small business owner in the process of shutting down your business then have a listen.

In this episode, JP and Fab interview Matthew Ordower of Ordower Law. They cover: The ins and outs of incorporating a small business The benefits of a corporate structure The process required to properly incorporate a business The pitfalls business owners may encounter if they incorporate themselves online If you're a small business owner or starting a small business then have a listen as this episode provides a ton of valuable info.

In this episode we discuss the basics of wills, estates, and transferring assets to the next generation with veteran lawyer Angelo Vumbaca. Specifically we cover: What is a last will and testament. What is probate and how do we get around it. What are the common legal pitfalls in estate planning? Tips on leaving assets to the next generation.

In this episode we discuss how to value a small business with Chartered Business Valuator Nick Rotundo. We cover the why's and how's of business valuation, specifically: When a small business owner needs to know the value of their business. How to calculate the value of a private business. What are the factors that contribute to a higher/lower valuation of a private company? How small business owners can increase the value of their businesses.

In this episode JP and Fab discuss investments in stocks vs. investments in real estate and which one they think is better. They cover: What is a real estate investment What is a stock/equity investment The benefits and drawbacks of each type of investment The limitations of each type of investment Who should be investing in each type of investment If you're stuck on what type of investment you should be making then this is the episode for you.

In this episode JP and Fab talk autos. Specifically they discuss the difference between leasing and buying automobiles from a tax perspective. If you run a small business and require an auto then this will be of interest to you.

In this episode JP and Fab have a talk with SR&ED expert Kevin Kelner. The Scientific Research and Experimental Development (SR&ED) Program uses tax incentives to encourage Canadian businesses of all sizes and in all sectors to conduct research and development (R&D) in Canada. These tax incentives come in three forms: an income tax deduction, an investment tax credit (ITC), and, in certain circumstances, a refund. We cover: Who can make a SR&ED application How the government approves SR&ED How much $$$ you can get from SR&ED This episode will be of interest to anyone who runs a small business and conducts research and development, engineering, software development, medical research and more.

In this episode JP and Fab speak with mortgage experts Dave Butler and Daniel Patton from BM select We discuss the current state of the mortgage industry, how they built their successful business, the ins and outs of obtaining a mortgage for an investment property and so much more If you’re interested in real estate investment you don’t want to miss this episode

In this episode JP and Fab talk about owner manager remuneration. Specifically, they discuss... What are dividends What are salaries What is better? Dividends or salaries? If you are a small business owner curious about the tax efficiencies/inefficiencies with respect to salaries and dividends then have a listen!

In this episode JP and Fab cover the ins and outs of transferring assets into a corporation tax-free. Specifically, they discuss an election in the income tax act found in section 85 (1), commonly known as a "rollover". The guys discuss the tax risks of transferring physical and intangible assets (such as a business, customer list, sole-proprietorship etc.) into a corporation, how that may be taxed, and how to avoid this tax by making certain elections.

In this episode JP and Fab talk about the CRA’s approach to Bitcoin taxation. Specifically the guys cover the following issues: How mining transactions are taxed How taxation applies to using Bitcoin to settle commercial transactions How Bitcoin trades are taxed

Welcome to episode 9 of Smarten Up with JP and Fab where today we speak with Helder Aguiar and Brad Greenlee of Element Modern Dwellings. In this Episode we cover: The ins and outs of building beautiful modern homes What makes modern design so unique How to leave the world of 9-to-5 for self-employment Adapting your business to changing times

Welcome to episode 8 of Smarten Up with JP and Fab. Today we interview the one and only Greg Foss, a 30 year veteran of the investment industry. Greg Foss is a well known Bitcoin Bull who believes that Bitcoin is set to hit a $2,000,000 per coin valuation. In this episode he explains his background in the investment industry, how this led to an interest in Bitcoin, and why he thinks Bitcoin is the future of money and wealth. Greg moves fast and uses a ton of technical terminology, some of which is covered below: Equities: This is more commonly known as "stocks" or the stock market. This represents actual ownership of companies. Bonds/Fixed-Income: This represents the debt markets, or loans, to corporations and governments. This market is much larger than the stock market. FIAT: This is money issued by a government. Canadian dollars, US dollars etc.

In this episode, Fab and JP discuss the taxation of real property sales. Specifically, they touch upon the following: What is the difference between business income and capital gain? Why the CRA wants business income and why you want capital gains What is the methodology used to determine the nature of your property sale from a tax perspective? This episode will be of interest to all Canadian real estate investors.

Welcome to episode 6 of Smarten Up with JP and Fab. In this episode we speak with Jodi Leigh of Jodi Leigh Designs. Jodi walks us through: - Her transition from healthcare and working 9-5 to self employment in the hospitality industry - The current state of the hospitality industry in Ontario - The evolution of her business from inception to now - Why the ability to adapt is the #1 skill required of an entrepreneur

In this episode JP and Fab speak with realtor Andrea McDonald. Andrea is a realtor in the Oakville/Burlington area with over a decade of experience buying and selling homes for personal use and investment purposes. In this episode we cover: Andrea's background and how/why she got into real estate Andrea and JP's real estate investment history Andrea's tips on staging your home for maximum value Andrea's tips on listing strategies The general state of the real estate market in Southern Ontario If you are interested in buying or selling a property or if you'd like to learn about rental properties then this is a great episode for you.

Should I hold my real estate investments personally or through a corporation? This is probably the most common question we get from clients and prospective investors. In this episode, JP and Fab cover the basics of holding real estate investments in a Canadian corporation including: What is a real estate holding corporation? What are the benefits of using a real estate holding corporation? What are the drawbacks of using a real estate holding corporation? What are the tax advantages of using a real estate holding corporation? How self-employed individuals can benefit from a corporate structure. For inquiries into your own personal situation please contact us at [email protected]

In this episode, JP and Fab dive a bit deeper into holding companies, their uses, benefits, drawbacks, and a couple of other technicalities. This is a great intro into holding companies and will be of benefit to anyone who runs their own small business. The following topics are covered: 1. What are holding companies? 2. What are holding companies used for? 3. How holding companies can be used to limit liability for entrepreneurs. 4. What are the tax benefits of holding companies? 5. When should you not use a holding company?

Welcome to episode 2 of Smarten Up with JP and Fab. Our guest today is the one and only Tom Karadza. Tom is a co-founder of Rock-Star Real Estate, a real estate brokerage focusing on real estate investment. He is also the host of the popular “Your Life Your Terms” podcast. In this episode Tom walks us through his journey from the 9 to 5 world into the world of entrepreneurship and how he and his brother Nick built a business that now employs 70 people from the ground up. He then walks us through his thoughts on the real estate market in Southern Ontario, where one should look for real estate investment opportunities, and how the current interest rate environment will affect real estate prices moving forward.

Welcome to episode 1 of Smarten Up with JP and Fab. For those of you who don’t know, JP and I are old buddies who co-founded Campanella McDonald LLP, a full-service, tax and financial planning firm operating in the Greater Toronto area. After more than a decade in business dealing with thousands of entrepreneurial clients we’ve decided it’s now time to share our knowledge with all of you. In this episode JP and I talk about what inspired us to start a podcast, the type of guests and topics we’d like to cover, the trials and tribulations associated with starting a new business from scratch, and share some tips on best practices that we’ve learned along the way.