Cherry Chan, CPA

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Cherry Chan, CPA A Chartered Accountant that specializes in providing tax planning, accounting, bookkeeping for real estate investors, realtors, mortgage brokers.

My accounting career began in 2003, working as a co-op student for a small accounting firm. I worked long hours and did my due diligence, completing over 200 tax returns in one season. I built a knowledge base on small business taxation and personal tax returns, working on multiple accounting files for doctors and dentists. After two years, I moved into a medium sized firm, which would eventually merge into Deloitte. During my time there I learned various tax planning strategies, compilation, review and audit engagement for small to medium sized companies. In 2006 I wrote the Chartered Accountancy exam and became the only student in the history of the firm to make honour roll. Like many new CAs, I realized I didn’t enjoy auditing as I tried out as many new positions as possible within the accounting field, in an attempt to find my true calling. For a time, I worked as an Operating Manager and Controller, managing over 200 employees in Thailand, as well as a Senior Manager in financial reporting for the largest grocery retailer in Canada. I reached a six-figure salary by the age of 28. Even with all this, I still felt like I hadn’t found my true purpose. I still wasn’t satisfied, and still needed something more. I still sought a greater challenge. It was during one day when I was invited to drive ATVs up north with a group of self-employed individuals; I recall struggling to book time off because my vacation time was limited. However, all the self-employed people simply rearranged their schedules to take time off and were out having fun at the least busy time of the week. It finally dawned on me that I wanted more control over my professional life. I wanted more leisure time for myself. β€œI need to start my own business!” I thought to myself. This realization lead to three things I knew I had to accomplish:
1. Becoming involved with real estate investing
2. Learning sales and marketing
3. Running my own business

Shortly after this life-altering realization, I joined the Rock Star Real Estate team and Mr. Hamilton to learn everything about real estate and marketing. I worked with many investors; discovering that most people rarely understand what options they have in terms of tax reporting and filing. There are so many tax questions out there, yet so few of them are properly answered. It was through the discovery of this problem that I became inspired to challenge myself to provide the solution people needed. Now today, using all my resources and connections, I have dedicated my accounting practice and this blog so that all real estate investors, property managers, contractors, builders and real estate agents may finally receive straight forward answers to all those confusing tax questions.

10/16/2026

πŸ‘©β€βš•οΈ What does it really cost to become a doctor in Canada?

For Stephanie Zhou, MD, MSc, the journey into medicine started long before medical school. After immigrating to Canada with her family, she grew up navigating financial hardship and eventually turned those experiences into a passion for financial literacy.

In this episode, me and Stephanie Zhou dive into the money side of medicine: medical school debt, professional lines of credit, financial mistakes, practice management, building the right team of experts, and what financial independence should actually look like.

Because as Stephanie Zhou asks, what’s the point of earning all that money if you don’t know what you’re working toward? Financial independence can also mean buying back your time and spending more of it with the people who matter.

πŸŽ™οΈ Watch the full episode now and discover the financial realities behind becoming a doctor in Canada.:
https://youtu.be/T0R7D9KrHwE

Still paying your home mortgage with after-tax dollars? 🏑If you own rental properties, there's another question worth as...
10/14/2026

Still paying your home mortgage with after-tax dollars? 🏑

If you own rental properties, there's another question worth asking:

Could the rental income you're already collecting be used more strategically?

Your primary residence mortgage is generally non-deductible, while borrowed money used to earn income may create deductible interest. For real estate investors, Cash Damming is a strategy that can use rental income to accelerate the movement from non-deductible debt toward deductible investment debt when the borrowing is structured properly.

Join Cherry Chan, CPA, CA, for a FREE live online training where you'll learn:

β€’ How Cash Damming works for rental property owners
β€’ How rental income can be used strategically
β€’ Why the purpose of borrowing matters for interest deductibility
β€’ Why personal and investment borrowing need to remain separate
β€’ Common documentation and record-keeping mistakes that can put deductions at risk
β€’ What to consider before deciding whether this strategy fits your situation

πŸ“… Thursday, October 29, 2026
⏰ 8:00 PM – 9:00 PM ET
πŸ’» FREE Live Online Training
🎀 Hosted by Cherry Chan, CPA, CA

Register here: https://taxtips.krtra.com/t/uoNxbJTg0XoQ

If you're a Canadian real estate investor with rental income and a mortgage on your primary residence, this training will help you better understand how your debt and cash flow could be structured more tax-efficiently, as well as the risks and record-keeping involved.

10/05/2026

Most people think franchises mean fast food, long hours, and slim margins.

But what if there were franchise opportunities in home services, senior care, commercial cleaning, renovations, and other industries that can generate strong cash flow and be scaled into valuable businesses?

In this episode, I sit down with David Patterson to discuss the realities of franchise ownership, including startup costs, financing options, profitability, timelines to replace your income, and how some franchise owners build businesses generating hundreds of thousands of dollars in annual income.

If you've been thinking about business ownership but don't want to start from scratch, this conversation may open your eyes to opportunities you didn't know existed.

🎧 Listen now: https://youtu.be/zURnrdB97wU?si=UsadiFXBw47qYguI

and let us know: Would you rather start your own business or invest in a proven franchise model?

09/30/2026

Did you know your RRSP or RRIF could face a massive tax bill when you pass away?

When you pass away, the CRA can treat your entire RRSP/RRIF balance as income on your final (terminal) tax return β€” meaning it can all land in one year and get taxed at the highest rate. 😳

⚠️ And it doesn’t stop there: waiting until 71 and withdrawing the minimum while CPP + OAS is flowing can push you into higher tax brackets every year… plus trigger the OAS clawback if your income goes over the threshold. πŸ“ˆπŸš«

πŸ‘‰ Follow for more Canadian tax tips that help you keep more of what you built
πŸ‘‰ Watch the full video on my YouTube - link in bio!

09/28/2026

πŸš—βŒ What if removing parking requirements could help solve the housing shortage?

Cities like Toronto and Ottawa are eliminating or reducing parking minimums, making it easier to build fourplexes and other "missing middle" housing. 🏘️ But investors should be careful, because building without parking can still impact rental demand depending on the property's location and access to transit. πŸš‡

Could this policy change create new opportunities for real estate investors? πŸ’°

09/25/2026

πŸ“© Comment PROPERTY to receive our free guide: How to Pass Properties to Children Without a Tax Disaster.

🏑 Dad bought a property years ago. The value increased significantly and now he wants to transfer it to his daughter.

Sounds simple, right?

Not according to the CRA. In many cases, transferring property to a family member is treated as a sale at fair market value, which can trigger capital gains tax immediately.

πŸ“š Want to learn more? Our free guide, we cover:

βœ… Five ways to pass your home to your kids
βœ… Probate-saving strategies
βœ… Principal Residence Exemption rules
βœ… Common tax traps families overlook
βœ… Estate planning considerations for homeowners

Always understand the tax consequences before transferring real estate to children.

πŸ“© Comment PROPERTY to receive your free copy

⚠️ Disclaimer: This content is for educational and informational purposes only. It is not financial, tax, legal, or investment advice. Every family's situation is unique. Please consult qualified tax, legal, and financial professionals before implementing any strategy.

πŸ‘€ Follow for more Canadian real estate tax and estate planning education.

09/23/2026

πŸ’° Did you know a Spousal RRSP can help Canadian couples pay less tax in retirement?

If one spouse earns significantly more than the other, contributing to a Spousal RRSP can help create a more balanced retirement income and potentially reduce your family's overall tax bill. βœ…

But there's an important rule many Canadians miss: if your spouse withdraws funds within 3 calendar years of your last contribution, the income may be attributed back to you. ⚠️

Smart retirement planning isn't just about saving more. It's about structuring your income for the future. πŸ“ˆπŸ‘

πŸ‘‡ Have you considered using a Spousal RRSP as part of your retirement plan?

09/21/2026

Are You Holding Your Investments in the Wrong Account?

πŸ’° Most Canadians spend a lot of time choosing what to invest in, but very few think about where to hold those investments.

βœ… The account you use can have a major impact on how much tax you pay in retirement.

In this video, discover:
πŸ”Ή Why RRSP and RRIF withdrawals are fully taxable
πŸ”Ή How capital gains and Canadian dividends receive special tax treatment
πŸ”Ή The powerful advantage of maximizing your TFSA
πŸ”Ή A simple asset location strategy that could help you keep more of your retirement income

πŸ“ˆ Smart investing isn't just about picking the right investments. It's about putting them in the right accounts.

Watch now and learn how to build a more tax-efficient retirement plan!

09/18/2026

🏑 For generations, buying a home was considered the foundation of the Canadian Dream.

But with housing prices soaring and affordability becoming a major challenge, many young Canadians are wondering if homeownership is still achievable. πŸ‡¨πŸ‡¦

πŸ’Έ When saving for a down payment can feel impossible, does that mean the Canadian Dream is dying?

Or is it simply changing?

In this video, we discuss housing affordability, wealth building, and what financial success may look like for the next generation of Canadians.

πŸ‘‡ What do you think?

Is the Canadian Dream still alive, or does it need a new definition?

Address

418 North Service Road E Unit 3C
Oakville, ON
L6H5R2

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+14165484228

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