Brian Birnbaum

When you’re finally finished the month’s bookkeeping and can breathe easy… until next month… 🥲 Don’t let bookkeeping duties steal your moments of relaxation after a long day of keeping your business afloat. Ask us to do your bookkeeping for you and enjoy the rest you truly deserve! 😉 #egobookkeeping #canadabusinessowners #businessowner #contractors #retailbusiness

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Busy entrepreneurs, finding a work-life balance is key to success. Discover strategies to grow your business while maintaining harmony. Share your experiences or email us at [email protected] #virtualassistant #virtualadmin #supportsmallbusiness #businessmanagement

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Just finished an interview on the Top Dog Tips podcast. This is for business owners who want to keep their money, grow it, use it and pass it down to their kids without sending 50% to Ottawa. https://lnkd.in/gQraQQJ4

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Why do creditors accept proposals from consumers? 💼💡 It's simple: they ensure a better recovery than bankruptcy. It's a fair deal for everyone. Contact us and protect your stability! #finace #economic #financialfreedom #canada

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Refinancing can be a game-changer! Whether it’s lower rates or switching to a fixed-rate loan, make sure you time it right. 🏡💡 Refinancing can reduce your monthly payments, shorten your loan term, or convert an adjustable rate to a fixed rate for stability. Analyze your current loan terms, market conditions, and long-term financial goals to determine the best time and approach for refinancing to maximize savings and benefits. #MortgageBroker #Mortgages #MortgageAdvice #MortgageTips #mortgagerates #mortgagelife #mortgagebrokers #mortgagespecialist #mortgagehelp

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Condo sales across the GTA and Hamilton area continues to struggle with sales in Q2 down 70% from the 20-year average and 66% from Q2 in 2023. Out of all of the launched presale units in 2Q2024, only 17% sold! Due to the lack of sales, there are now over 25,000 units for sale – it seems sellers have not adjusted their expectations down to where demand sits. There are an estimated 10,000+ units being completed in the second half of this year, adding to the supply-demand imbalance. From the Globe and Mail: “In Toronto, the average price per square foot was $1,529 in the quarter ended in June, according to Urbanation. That is more than double the $606 price per square foot in 2014. In the regions surrounding the city, the average price per square foot was $1,153 in the second quarter of 2024, compared with $484 in 2014.” Would you pay over $800k for a 550-sq. ft. condo? To me, that’s a tough value proposition. If you had 20% to put down on that condo, say you got it for $800k even, your mortgage would be $640,000. At 5%, that puts your monthly payment at over $3,700. Plus condo fees, plus taxes, plus…etc… you’re well over $4,200 per month. Compare that to the average monthly rent of a one-bedroom of ~$2,500. The natural justification is that you’re not building any equity while your rent. Note that almost ¾’s of your mortgage payment goes to interest, not equity, for the first 10-years. For renters, you can take that difference ($4,200 - $2,500 = $1,700/mo.) and save/invest it. This simply suggests that prices at these levels are tilting the math towards renting.

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📝 **51% of Canadians don't have a will.** Even among those who do, **28-35% report that their will is outdated** or needs updating. This is a fundamental aspect of estate planning, yet the numbers are staggering. So, why are these numbers so incredibly high? - Procrastination? - Fear of mortality? - Ignorance of the consequences? Here are some other excuses people use for not having a will. I've heard plenty more excuses. So many people put off this critical task for these reasons. As someone who works closely with business owners, this is often the first question I ask in our meetings—and the responses never cease to shock me. But I get it, because I, too, fall into that 28-35% of Canadians with an outdated will. It's easy to push this to the back burner, but we must prioritize it together. Your legacy depends on it. Let's take this important step in estate planning and ensure that our loved ones are protected and our wishes are honoured. You’re not alone in this, and it’s never too late to take action. #EstatePlanning #Legacy #WealthManagement #WillPower #FinancialPlanning https://lnkd.in/gkMChYpd

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Executor Estate Settlement Services (EESS) QUESTIONS AND ANSWERS (PART2) Q1) Can siblings force the sale of inherited property in Quebec? A1) The simple answer to this is, yes. If your sibling, or siblings, wants to sell the property and you want to keep it, they can apply to the court for a partition action. It's often better to buy them out. Q2) Do you have to report inheritance money to CRA and Revenue Quebec? A2) A common misconception among people is that they can be taxed on money they inherit. The truth is, there is no inheritance tax in Canada. Q3) Who is entitled to see a copy of a will in Quebec? A3) If the testator, the person who made the will is still alive, he or she is the only person who can request a copy of his or her will from the notary. Q4) Is a handwritten will legal in Quebec? A4) You can draw up the will yourself by hand or using a computer. You must declare that it is your will and sign it in the presence of two witnesses. These types of wills will have to be probated before a court. Q5) Can I sell my house to my son or daughter for $1 in Canada? A5) In Canada, it is not advisable to transfer ownership of real estate to family members for anything other than fair market value. However, an alternative would be to give the person cash that they can then use to purchase the property at fair market value. Settling an estate can be an overwhelming process and with many steps involved - you may not know where to start. I work closely with many clients to ensure the estate settlement process is smooth while they are going through a difficult time. Whether you need guidance on the settlement process or need the estate settled from A to Z, I'll be your right hand person. To learn more about the Executor Estate Settlement Services (EESS), head over to our website: https://jgrossman.ca #estatesettlement #estateadministration #estate #estateplanning #cpa #consultant #executor #liquidator

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Fulfill your wishes Tax efficiently-It’s all about Estate Planning Estate Planning is often overlooked by many Canadians. Estate planning is a process to arrange all your financial affairs, after your death, in an orderly manner; so that your estate is transferred, according to your wishes, often tax efficiently. You are legally known as testator (person making a will).  click the link below to explore more about Estate Planning. https://lnkd.in/gG7wtP7y

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The Grand Reveal: What Made Michelle Reconsider a Condo Purchase? Lat Barbosa was never on the lookout for a condo. But when her broker, Syed Mansoor Naqvi of Mansoor Naqvi Team & Royal Lepage Terrequity Realty, introduced her to The Grand, a new gem in Pickering’s master-planned community, everything changed. Watch how a well-timed pitch and a standout deal transformed Lat’s perspective on condo living and led her to seize an opportunity she hadn’t even considered. For more details, Contact Now! Syed Mansoor Naqvi [email protected] 📞 (416) 918-1356 . . #TheGrandReveal #CondoLiving #PickeringRealEstate #RealEstateOpportunities #MansoorNaqvi #CondoLife #RealEstateGoals #PickeringHomes #RealEstateInsights #PropertyInvestment #CondoCommunity #RealEstateTransformation #TorontoRealEstate #HomeBuyingJourney #LuxuryCondos

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HST in Canada - Mastering the Game: A Business Owner's Guide to Refunds and Savings on HST Canada Dealing with the complexities of the Harmonized Sales Tax (HST) in Canada is a crucial aspect of managing your business finances effectively. From voluntary registration considerations to claiming refunds and optimizing your tax strategy, here's a comprehensive guide for business owners looking to make the most out of the HST system. Voluntary Registration for GST/HST in Canada Before reaching the $30,000 threshold that mandates GST/HST registration in Canada, consider ...[...] Read Full Article: https://lnkd.in/gcjyKjRN We appreciate your comments, likes and sharing with friends and colleagues. For more insights and a free consultation, visit https://777taxes.com and call us at (416)857-7570. #777Taxes #accountant #Accounting #Business #BusinessTips #CanadaTax #CanadianTaxSystem #FinancialFreedom #HSTRefund #SmallBusinessGuide #Taxation #TaxRefunds #TaxSavings

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