Taxes

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FP Answers: How does this frustrated senior ensure his estate is not heavily taxed at death?

FP Answers: How does this frustrated senior ensure his estate is not heavily taxed at death?

Paying a little more now could provide significant relief on your final tax return upon death https://financialpost.com/personal-finance/taxes/how-ensure-estate-not-heavily-taxed-death #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 does this frustrated senior ensure his estate is not heavily taxed at death? Read More »

How the soaring U.S. dollar and other foreign currency moves can affect your taxes

How the soaring U.S. dollar and other foreign currency moves can affect your taxes

Jamie Golombek: CRA releases refresher on how foreign currency gains and losses should be treated for tax purposes https://financialpost.com/personal-finance/taxes/u-s-dollar-foreign-currency-moves-affect-taxes #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

How the soaring U.S. dollar and other foreign currency moves can affect your taxes Read More »

Welcome to Tax-mas, but it doesn’t have to be that way

Welcome to Tax-mas, but it doesn’t have to be that way

Kim Moody: The GST/HST ‘holiday’ and promised cash rebate have only heightened the focus on year-end tax planning https://financialpost.com/personal-finance/taxes/tax-mas-doesnt-have-be-that-way #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

Welcome to Tax-mas, but it doesn’t have to be that way Read More »

Three cases where the CRA denied COVID-19 benefits, and what they tell us

Three cases where the CRA denied COVID-19 benefits, and what they tell us

Jamie Golombek: A day trader, a fitness club owner and an injured worker all had their appeals rejected by the court https://financialpost.com/personal-finance/taxes/three-cases-covid-19-taxpayers #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

Three cases where the CRA denied COVID-19 benefits, and what they tell us Read More »

Ready for a GST holiday? The low-down on tax breaks, rebates and other government giveaways

Ready for a GST holiday? The low-down on tax breaks, rebates and other government giveaways

Everything you need to know about federal and provincial measures to help Canadians with the cost of living https://financialpost.com/personal-finance/taxes/everything-you-need-know-ottawa-gst-cuts #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

Ready for a GST holiday? The low-down on tax breaks, rebates and other government giveaways Read More »

What Is the Standard Deduction for 2025?

What Is the Standard Deduction for 2025?

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 »

The sugar rush from ill-advised tax breaks is not healthy now nor for the future

The sugar rush from ill-advised tax breaks is not healthy now nor for the future

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 »

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 »

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