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New, larger standard deductions for 2025 could help you save a few dollars on your federal tax return in 2026. Standard deductions are adjusted each year for inflation. For the 2025 tax year, the standard deduction is increasing to $15,000 for single filers, $22,500 for heads of household and $30,000 for married couples filing jointly. […]
What Is the Standard Deduction for 2025? Read More »
Kim Moody: Proposed GST/HST holiday and the Working Canadians Rebate will have zero lingering benefits https://financialpost.com/personal-finance/taxes/ill-advised-tax-breaks-not-healthy-now-future #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
The sugar rush from ill-advised tax breaks is not healthy now nor for the future Read More »
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 »
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 »
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 »
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
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
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 »
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 »
Paying your tax bill online may not take all of the sting out of having a tax bill in the first place, but it is a convenient, fast and secure way to pay the IRS. If you need to take care of a balance due on your tax return, schedule quarterly estimated tax payments, cover
How to Pay Your Taxes Online Read More »
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
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 »
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
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 »
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 »
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 »
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 »
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 »
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
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 »
