Ken's Weekly Top 5 - Issue # 136


My son, Adiel, turned 16 last September. So far, he has shown no eagerness to learn how to drive. As we were driving back home from another appointment, I drove to DriveTest Ontario and got him to register to write the exam, which he will now write a week from today. Next, will be driving school and hopefully soon, he can start helping with some errands at home that require driving. Selfish of me, I know…Well, as most of you know, the tax filing season is now officially underway! Remember, we’re here to help. This week, I share some valuable tax and financial planning insights. Enjoy and please remember to share this with everyone in your network:

1. Ten Mistakes to Avoid as You File Your Personal Tax Returns

Most Canadians rely on DIY tax software and assume that’s enough—but the real cost is in the mistakes you don’t see.

In my latest article, I walk through 10 common (and expensive) errors I see every year: from over‑claiming self‑employment expenses and ignoring carryforwards, to missing powerful credits and mishandling CRA reviews. I also show you the key numbers you should pull from your return—your actual tax paid, average and marginal rates—and how to use them to pay less tax next year, not just “get a refund” this year.

If you’re serious about keeping more of what you earn in 2026 and beyond, this is a must‑read.

👉 Read the full article here: https://kengreen.ca/10mistakes/

2. Tax Webinars on Demand

Recently, we hosted webinars on personal and corporate tax tips and planning considerations.

On personal taxes, we shared some important updates on personal taxes ranging from the extended deadlines for charitable donations, reduction of personal tax rates, disability support deductions, alternate minimum taxes, trust filing, carbon rebates, first-time home buyers GST rebate, personal support workers tax credit, other tax credits/deductions, and many more...

If you run a business, you’ll learn how to:

  • Decide if a corporation is right for your business (pros and cons)
  • Stay onside with legal, HST, payroll, and compliance requirements
  • Use smart compensation strategies as a corporate owner
  • Navigate what’s new for the 2025 & 2026 corporate tax filing seasons
  • Build tax-efficient wealth and minimize taxes using your corporation

If you missed the LIVE webinars or want to revisit, you can watch them on demand here: https://gmscpa.ca/webinars/

3. Let Me Help You Get Ahead In 2026

If you’re looking to accelerate your results in 2026, particularly with optimizing taxes, building more cash flow, improving your business or simply elevating your personal financial situation, I encourage you to consider working with me. As I’ve shared in the past, it’s so tempting to think we know it all. We want to figure things out ourselves. We want to go on the journey solo, not realizing that we can only go so far. Whether it is our pride or ignorance, we hurt ourselves when we don’t seek help from those that have accomplished what we want to accomplish. If you’re looking to achieve a major breakthrough or to simply go further faster, I invite you to consider coaching or consultation with me. A good start is to book a FREE 15-minute Tax Strategy Session with me here to get a taste of the potential results you can get from coaching.

4. Buy Smart, Deduct More — How to Time Your Asset Purchases in 2026

The Accelerated Investment Incentive (AII) has been re-instated and enhanced. Businesses acquiring and putting eligible depreciable property to use between 2025 and 2029 can triple the first-year CCA deduction. Immediate expensing is available for eligible manufacturing and processing (M&P) equipment, specified clean energy equipment, and zero-emission vehicles acquired and available for use before 2030.

Here is a summary of some of the key benefits of the enhanced AII:

  • The tripled first-year depreciation rate under the AII for 2025–2029
  • 100% CCA deduction for eligible M&P and clean energy equipment before 2030
  • Zero-emission vehicle CCA limit of $61,000 (plus sales taxes)
  • Full expensing for eligible M&P buildings

If you have a business and have been considering buying an electric vehicle for use in your business, this may be the best time to do so and take advantage of the tax benefits.

5. The Three Accelerators of Wealth

Why are the rich getting richer and everyone else getting poorer? Are the rich smarter than the rest of the world? Are they more talented? What do they know that the rest of the population does not know? The answers to these questions can be varied and sometimes complex.

It is certainly true that there are things that the rich know that the rest of the masses don’t know. In this article, I share three powerful accelerators of wealth that the rich have mastered. You too can learn more about these accelerators, master them, and employ them in your strategy as you build and grow your wealth. Read the full article here: https://kengreen.ca/3wa/

Ken Green - TaxEfficientWealth.ca

Read more from Ken Green - TaxEfficientWealth.ca

The tax filing season is now officially open! While we encourage you to file early, it’s best to wait and make sure you have all your income slips so you can avoid CRA reassessments. However, if you have all the information you need to file, go ahead and file. Remember, we’re here to help. This week, plan to join us on Thursday for a FREE webinar on actionable tax strategies that could save your business thousands. Get all the details inside this issue, in addition to other valuable tax tips....

I had the privilege of attending the Black Founders Network’s Power of Community event in Downtown Toronto over the weekend. It’s always inspiring to see the success of many Black founders supported by BFN and its partners. I know the hard work it takes to build and sustain your business and I congratulate all the founders and aspiring founders for the solutions they are creating and the impact they are having in our ecosystem. Enjoy the newsletter this week and remember to join us this...

I trust you all had a great Family day long weekend for those of you in Ontario. Next week, we will host a webinar on personal income tax update. There are recent changes you need to be aware of as you prepare to file your personal taxes this season. You will find more information on this including how to register for the webinar in this issue of my Weekly Top 5. I also share other valuable tips and resources. Enjoy and please remember to share this with everyone in your network: 1. A FREE...