Blog

Eat cake, win cash

 May 5, 2013

Royal LePage turns 100 this year! To celebrate our 100th birthday,  Royal LePage has created a 100th Birthday Cake-Eating Challenge on Facebook.

Here's how it works:

The game challenges players to eat an entire virtual three-layer birthday cake in the shortest time possible. Participants can play as often as they like -- just for fun or to better their score, for a chance to win one of six weekly prizes of $500. Each week will bring a new cake, and a new challenge. As well, each week they play, players will receive one entry into a random draw for a chance to win a $5000 grand prize (maximum 6 entries). 

Did I mention that this cake has zero calories? Start eating

Royal LePage Shelter Foundation

May 1. 2013

The Royal LePage Shelter Foundation raised a record breaking $2.08 million in 2012. Part of the funds generated are done through "agent commission donations", in other words every time I sell a home, a portion of my commission goes to to the Shelter Foundation. 100% of our donation goes to a local organization as Royal LePage Canada covers the administrative costs. At Royal LePage Benchmark, the money raised goes to the Children's Cottage in Calgary. 

In 2012, I was recognized as being one of the top 10% of donors in Canada. So thank you to all my clients- for allowing me to represent you and helping me to make such a significant donation to the Royal LePage Shelter Foundation.

SAM Awards- What's All the Fuss?

April 16, 2013

What a great night at the CHBA Calgary Region 2012 SAM Awards. As many of you know, my husband Paul Salmon works for PHBI which is part of Alberta New Home Warranty Program . PHBI was a platinum sponsor this year at the SAMs so we were fortunate enough to be able to attend.

The SAM Awards (Sales And Marketing) recognize builders and other industry members for their achievements over the last year. As a real estate agent who often helps buyers purchase a new home, it is important to have an idea as to which builders are continually recoqnized by their peers ( you don't "win" these awards by fluke). However, the award that I was always most interested in was the "Customer Choice Award" as the winner is chosen by their customers.  

Tax Time- Should you Depreciate your Rental Property?

April 15, 2013

I had an interesting discussion last week with my AMAZING accountant Teri Tetreault of Pi Business Solutions about whether or not to write off depreciation on my rental property. Of course, the answer isn't black and white and circumstances are different for everyone but here's what he said:

"When you claim the depreciation now, as a dollar-for-dollar expense, you do save that tax, yes.  However, when you sell that property, you are required to reclaim that depreciation back into income, dollar-for-dollar.  In other words, when the house is subsequently sold, ALL of the prior depreciation is added back into income, and it is NOT a capital gain , so there is no net tax savings whatsoever.

Of course, the amount of profit on the property is still a capital gain, but every cent of the tax you saved depreciating the place is repaid when it sells.  Most likely, you end up paying MORE tax upon the sale than you saved because all that income pours into one year, which will almost certainly drive you into the 3rd or 4th tax bracket.  As a matter of habit, we never depreciate rental properties for this reason.