Tax season is here—and while it often comes with stress and uncertainty, it also presents a powerful opportunity for you to unlock new levels of wealth. At BG Wealth Group, we believe the smartest moves are often hiding in plain sight. With the right approach, you can apply the same strategies the wealthy use to legally and effectively minimize taxes and keep more of what you earn.
In his acclaimed e-book, Tax Mastery, Craig Dunkerley reveals the tried-and-true tactics that millionaires and savvy investors rely on to build wealth faster. Today, we’re spotlighting a few of those tactics—so you can make the most of this tax season.
1. Leverage Tax-Efficient Structures
The wealthy don’t leave tax planning to chance. Instead, they use the right business structures, tax deductions, and investment vehicles to legally reduce their tax liability. Whether it’s utilizing corporate structures for business income, maximizing RRSP contributions, or strategically using passive income streams, these strategies can have a transformative impact on your bottom line.
2. Make the Most of Every Deduction
Small business owners, entrepreneurs, and investors often overlook certain tax deductions. Craig’s e-book outlines these deductions in detail—from home office expenses to vehicle costs and professional development. The key: keep accurate records and work with a qualified professional who understands all available tax credits.
3. Real Estate and Other Asset Advantages
Real estate remains a favourite tool of the wealthy to reduce taxable income and build net worth. This can include writing off mortgage interest, property taxes, or leveraging depreciation for investment properties. By combining tax strategies with a long-term asset-building mindset, you can accelerate wealth while minimizing your tax burden.
4. Stay Ahead of Regulatory Changes
Tax rules can change quickly. Staying current with the latest updates is crucial, especially if you do business across borders or are eyeing U.S. opportunities. Under the U.S. government—widely considered business-friendly, especially with recent changes at the highest level—there may be new avenues for Canadians interested in cross-border investments in the United States or expansion.
Stay tuned in to our BG Perspectives blog posts for the latest commentary on how our financial strategies play out in this new financial landscape.