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. “I 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.

💰 Your rental income comes in every month. The bigger question is: are you using it strategically?For Canadian real esta...
10/26/2026

💰 Your rental income comes in every month. The bigger question is: are you using it strategically?

For Canadian real estate investors, understanding how rental cash flow and debt are structured can be an important part of tax planning.

That’s why Cherry Chan, CPA, CA, is hosting a FREE live online training on Cash Damming.

You’ll learn how rental income can be used strategically as part of the Cash Damming approach, why keeping a clean paper trail matters, and how the structure and purpose of your borrowing can affect interest deductibility.

📅 Thursday, October 29, 2026
⏰ 8:00 PM – 9:00 PM ET
💻 Live & Online
🎟️ FREE Registration: https://taxtips.krtra.com/t/uoNxbJTg0XoQ

If you own rental property and want to better understand how your rental income, mortgage and investment debt can work together, save your seat and join us live.

10/23/2026

💰 Estate planning doesn’t have to be complicated.

Traditional estate settlement can involve lawyer fees, accountant fees, executor fees, and a process that may take months or even years. Segregated funds can offer another way to transfer wealth to your loved ones while keeping beneficiary details private and confidential.

🔐 More privacy
💸 Potential to bypass probate
🛡️ Death benefit guarantee
⚡ Faster transfer to loved ones
🏢 Potential creditor protection for small business owners

If protecting your wealth and creating a smoother transfer to your beneficiaries is part of your estate planning strategy, segregated funds may be worth learning more about.

🏡 Your rental property generates income. But where is that income going every month?For many real estate investors, rent...
10/22/2026

🏡 Your rental property generates income. But where is that income going every month?

For many real estate investors, rent comes in and goes right back out to cover rental expenses. Cash Damming looks at how that cash flow and related borrowing can potentially be structured differently.

Join Cherry Chan, CPA, CA, for a FREE live online training to learn more about Cash Damming and how it can apply to Canadian rental property owners.

You'll learn about:

✅ Using rental income more strategically
✅ Non-deductible vs. potentially deductible debt
✅ Why proper borrowing structure matters
✅ Record-keeping and documentation
✅ Important considerations before using the strategy

📅 Thursday, October 29, 2026
⏰ 8:00 PM – 9:00 PM ET
💻 Live & Online
🎟️ FREE

👉 Reserve your free spot and join us live: https://taxtips.krtra.com/t/uoNxbJTg0XoQ

🏡 Real estate investing isn’t just about finding the right property. How you structure and report your investments matte...
10/21/2026

🏡 Real estate investing isn’t just about finding the right property. How you structure and report your investments matters too.

Tonight, I’ll be joining the Vaughan Investors Club for The Real Estate Investor’s Tax Playbook, where we’ll be talking all things real estate taxes.

We’ll get into what real estate investors can claim, how ownership can be structured, and some of the tax mistakes that can end up costing investors more than they realize.

If you’re a Canadian real estate investor and want to better understand the tax side of your portfolio, I’d love to see you there!

📅 Tonight, October 21
⏰ 6:30 PM
📍 Aloft by Marriott Vaughan Mills, Vaughan

👉 Grab your ticket here: https://www.eventbrite.ca/e/the-real-estate-investors-tax-playbook-tickets-2003016496260?aff=oddtdtcreator

10/16/2026

👩‍⚕️ 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.

🎙️ 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:

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

📅 Thursday, October 29, 2026
⏰ 8:00 PM – 9:00 PM ET
💻 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 — 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. 📈🚫

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

09/28/2026

🚗❌ 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. 🚇

Could this policy change create new opportunities for real estate investors? 💰

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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