As a real estate investor or medical professional, you work hard to grow your wealth—but are you maximizing your tax deductions to keep more of your earnings? I often see professionals overlook one of the simplest yet most effective strategies: staying organized. In my latest video, I break down practical steps to streamline your tax records, avoid last-minute stress, and ensure you’re claiming every deduction available. From using checklists to going digital, these small but powerful changes can make a significant impact on your tax savings. Watch the video below, or read the transcript, and then reach out if you have questions on how to implement these quick hit strategies.
Video Transcript: Maximizing your tax deductions
I’m often asked what is the most overlooked way of maximizing tax deductions? I’m George Dube, saving the world from tax, one bow tie at a time. And the answer is relatively straightforward, though perhaps hard to implement in practice: be organized.
That’s going to be done with a few steps.
Start early to maximize your tax deductions
One is to start early. Don’t try and get everything put together at the last moment. Your definition of the last moment may be very different than your accountant’s, so please, at least by the end of March, have everything ready to go. Use tax checklists (see my versions). If other professionals, such as pilots, astronauts, and surgeons, use checklists, why aren’t we? Maybe this isn’t exactly a life-saving moment, but saving dollars is still important.
Go digital…if you haven’t alredy
Be a tidy digital warrior. Get everything organized. You’re not looking for paper cuts and mounds of paper. Being electronic throughout the year, rather than just at the end, can save a lot of stress—not just for taxes but even for a mortgage renewal.
Do the math…summarize everything
Do the math. No shoeboxes. Summarize, summarize, summarize. If you have a total of receipts for repairs and maintenance, for example, total them up. Don’t just hand over the receipts. That information goes back onto the checklist.
Plan ahead
Plan for next tax season. Maybe this year wasn’t the greatest from an organizational perspective—let’s ensure next year is a touch better. Sit down with your advisors over the summer. They can offer suggestions to make it easier for you to keep more of your money in your pockets.
I’m George Dube, saving the world from tax, one bow tie at a time®.
For tax-saving and wealth-building tips, subscribe to my newsletter.
Check out the next video in the series.
I want to help you do wonderful things®.
-End transcript-
Resources
For additional resources related to how to maximize tax deductions, see:
- 2025 tax season tips: How to save more this year
- Claiming employment expenses in Canada
- Claiming medical expenses in Canada
- Personal Tax Checklists
- Tax checklists for business owners: How to use them all year
More questions on maximizing your tax deductions?
Still have questions? I want to help you Do wonderful things®, so please contact me today.
Remember – circumstances are unique! This information is summary in nature. Seek out advice from your tax advisor about your specific situation.
