Tips and Tricks

Make Your Mortgage Tax Deductible

Save $100,000 and don't pay me a penny!!

If you are a business owner in Canada and you have a mortgage on your personal residence, you could be able to make your mortgage tax deductible. Check out the "Smith Manoeuvre". Use Google or another search engine to research this and find out if it is for you. If you have a typical $200,000 mortgage at 5% over 25 years, you'll pay nearly $150,000 in interest. Making it deductible could easily save you $60,000 in taxes and if you paid off the mortgage earlier with the tax savings, you could easily save $100,000.

Domain Names

The name you choose for your website is critical. It is really important that your potential customers can find you easily on the web. The name you choose should be fairly short so that it's easy to type. The name should also be easy to remember and help to describe your business or brand. I strongly recommend you check out nameboy.com. It's a site that's free to use and it suggests different domain names based on the type of business you are in that are still available for registration. You don't even have to use Nameboy to register them if you want to use another domain registration company.

Personal Planning

Do you know where you want to be in 5 years...10 years...? Write down your goals. If they're not written down, it's just a dream. Take some time and write down your goals. Just the act of writing them brings them 20% nearer. Read the list of goals each week and decide what you're going to do that week that will move you closer. You're halfway there already!

Business Effectiveness & Profitability

Are you happy with the way your business is working? Is it helping you meet your goals? If you think it could be better, call Barry now at (800) 661-9842 and start improving your business now, or email him at barry @ barrysharp.com.

Our effective business consulting makes money for you and YOUR business.