Taxes

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Canada’s tax system needs a Big Bang and soon

Canada’s tax system needs a Big Bang and soon

Kim Moody: Canada needs to have broad-based personal tax reductions, especially in light of the recent outcome in the U.S. election https://financialpost.com/personal-finance/taxes/canada-tax-system-needs-big-bang-soon #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Canada’s tax system needs a Big Bang and soon Read More »

How to Calculate Mileage for Taxes

How to Calculate Mileage for Taxes

Driving your car costs money. If you drive for business, charity, to receive medical treatment or to move, you may be able to deduct some of your costs on your taxes using standard mileage deductions. IRS mileage deductions vary, and not all drivers (or driving) are eligible for the deductions. Here, we’ll go over what

How to Calculate Mileage for Taxes Read More »

Year-end tax tips: Here’s what is unique to 2024

Year-end tax tips: Here’s what is unique to 2024

Jamie Golombek: From First Home Savings Accounts to Alternative Minimum Tax, pay attention to some critical deadlines https://financialpost.com/personal-finance/taxes/year-end-tax-tips-what-unique-2024 #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Year-end tax tips: Here’s what is unique to 2024 Read More »

Trump’s win should force Trudeau to make Canada more tax competitive, but don’t count on it

Trump’s win should force Trudeau to make Canada more tax competitive, but don’t count on it

Moody: Instead of simply responding to measures that are sure to come, Canada should get ahead of them https://financialpost.com/personal-finance/trumps-trudeau-canada-tax-competitive #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Trump’s win should force Trudeau to make Canada more tax competitive, but don’t count on it Read More »

Capital gains inclusion rate hike still up in the air, but you still have to prepare for it

Capital gains inclusion rate hike still up in the air, but you still have to prepare for it

Kim Moody: There is a chance the new rules won’t be passed into law, but it’s small https://financialpost.com/personal-finance/taxes/capital-gains-inclusion-rate-hike-prepare #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Capital gains inclusion rate hike still up in the air, but you still have to prepare for it Read More »

FP Answers: How should I allocate assets over several accounts for tax efficiency?

FP Answers: How should I allocate assets over several accounts for tax efficiency?

Where to locate different investments is secondary to which assets you allocate in your portfolio https://financialpost.com/personal-finance/taxes/allocate-assets-over-several-accounts-tax-efficiency #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

FP Answers: How should I allocate assets over several accounts for tax efficiency? Read More »

7 tax tales that should scare anyone at any time of the year

7 tax tales that should scare anyone at any time of the year

Kim Moody: The Legend of Sleepy Hollow has nothing on these tales of madness https://financialpost.com/personal-finance/taxes/tax-tales-scare-anyone #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

7 tax tales that should scare anyone at any time of the year Read More »

Taking on more debt is not the solution to the housing crisis despite what the Liberals say

Taking on more debt is not the solution to the housing crisis despite what the Liberals say

Kim Moody: All the tax issues created by the new mortgage insurance rules cause more headaches than they’re worth https://financialpost.com/personal-finance/taxes/housing-market-rental-debt-no-solution #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Taking on more debt is not the solution to the housing crisis despite what the Liberals say Read More »

Another tax on properties isn’t the answer to Canada’s housing woes

Another tax on properties isn’t the answer to Canada’s housing woes

Kim Moody: The rationale of a new tax on vacant land is so simplistic, it’s laughable https://financialpost.com/personal-finance/taxes/tax-properties-canada-housing #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Another tax on properties isn’t the answer to Canada’s housing woes Read More »

Trump promises to end ‘double taxation’ of expat-Americans. What would this mean for Canada’s dual citizens?

Trump promises to end ‘double taxation’ of expat-Americans. What would this mean for Canada’s dual citizens?

Requirement for U.S. citizens living in other countries to be taxed on their international income https://financialpost.com/personal-finance/taxes/trump-promises-to-end-double-taxation-canada-dual-citizens #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Trump promises to end ‘double taxation’ of expat-Americans. What would this mean for Canada’s dual citizens? Read More »

Capital gains tax increase will bring in less revenue than expected

Capital gains tax increase will bring in less revenue than expected

Jamie Golombek: C.D. Howe researchers, in looking at tax-payer behaviour when faced with higher tax rates, came up with a number billions lower than government projections https://financialpost.com/personal-finance/taxes/capital-gains-tax-increase-will-bring-in-less-revenue-than-expected #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation

Capital gains tax increase will bring in less revenue than expected Read More »

What Is Principal, Interest, Taxes and Insurance (PITI)?

What Is Principal, Interest, Taxes and Insurance (PITI)?

PITI stands for principal, interest, taxes and insurance, the four components of many people’s monthly mortgage payment. As you’re shopping for a home and trying to figure out your budget, it’s important to consider all four factors of PITI. Here’s a closer look at each one and what you need to know as you prepare

What Is Principal, Interest, Taxes and Insurance (PITI)? Read More »

7 of the silliest and politically motivated tax policies recently introduced in Canada

7 of the silliest and politically motivated tax policies recently introduced in Canada

Kim Moody: Politicians know that robbing Peter to pay Paul means they can always rely on the support of Paul https://financialpost.com/personal-finance/taxes/silliest-politically-motivated-tax-policies-canada #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

7 of the silliest and politically motivated tax policies recently introduced in Canada Read More »

Corporate investing still wins despite new capital gains inclusion rate

Corporate investing still wins despite new capital gains inclusion rate

Jamie Golombek: Whether you end up paying more depends on your starting capital, personal tax rates and other factors https://financialpost.com/personal-finance/taxes/corporate-investing-capital-gains-inclusion-rate #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Corporate investing still wins despite new capital gains inclusion rate Read More »

Better tax treatment of capital gains will improve Canada’s economy and productivity

Better tax treatment of capital gains will improve Canada’s economy and productivity

Kim Moody: Studies that conclude a high capital gains inclusion rate — or full taxation — of capital gains has no impact on a country’s economic results are nonsense https://financialpost.com/personal-finance/taxes/better-tax-treatment-capital-gains-improve-canada-economy-productivity #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome

Better tax treatment of capital gains will improve Canada’s economy and productivity Read More »

Families and businesses pay the price when new tax rules are proposed, but the details are delayed

Families and businesses pay the price when new tax rules are proposed, but the details are delayed

Kim Moody: The result of all this uncertainty is not just an inconvenience; it’s a failure of government accountability https://financialpost.com/personal-finance/taxes/canadians-pay-price-new-tax-rules-proposed #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Families and businesses pay the price when new tax rules are proposed, but the details are delayed Read More »

Time for this tax hit on the ‘rich’ to be put aside for the good of everyone

Time for this tax hit on the ‘rich’ to be put aside for the good of everyone

Kim Moody: The government imposes the Alternative Minimum Tax, but will later refund it, so what’s the point? https://financialpost.com/personal-finance/taxes/time-alternative-minimum-tax-put-aside-good-everyone #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

Time for this tax hit on the ‘rich’ to be put aside for the good of everyone Read More »

FP Answers: What are some efficient ways to spread the tax liability between spouses?

FP Answers: What are some efficient ways to spread the tax liability between spouses?

Reader wonders if he can transfer ‘in-kind’ from his brokerage account to his wife’s smaller account https://financialpost.com/personal-finance/how-to-spread-tax-liability-between-spouses #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

FP Answers: What are some efficient ways to spread the tax liability between spouses? Read More »

A new government is needed to unwind nine years of Liberal tax mistakes

A new government is needed to unwind nine years of Liberal tax mistakes

Kim Moody: People will search for ways to lower their tax bills when personal tax rates approach 50% https://financialpost.com/personal-finance/taxes/new-government-needed-unwind-9-years-liberal-tax-mistakes #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp

A new government is needed to unwind nine years of Liberal tax mistakes Read More »

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