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Tax day has come and gone, and this year’s average refund so far is up $133 from last year to just over $3,000, according to the IRS. Waiting for your money to land in your bank account can be stressful. That’s especially true if you’re counting on your refund for making a large purchase or […]
Still Waiting on Your Tax Refund? Here’s What to Do Read More »
Jamie Golombek: Get ahead of the change by doing some proactive planning https://financialpost.com/personal-finance/taxes/what-to-know-increased-capital-gains-tax #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
Here’s what you need to know about the increased capital gains tax Read More »
Critics say there may be several unintended consequences of the tax policy, including scores of innovators leaving Canada https://financialpost.com/technology/capital-gains-tax-changes-brain-drain-harm-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 #stocks #credit #financialeducation #bhfyp
Watch CIBC tax expert explains the new measures in this year’s budget https://financialpost.com/personal-finance/taxes/how-federal-budget-2024-will-affect-your-pocketbook #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: How the federal budget 2024 will affect your pocketbook Read More »
Kim Moody: Corporate tax hikes would be step in the wrong direction to help improve Canada’s lagging productivity https://financialpost.com/personal-finance/will-federal-budget-include-corporate-excess-profits-tax #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 ‘excess profits’ tax? The federal budget could still hold some surprises Read More »
Opinion: ‘Big is bad’ policies that target large employers risk further undermining investment in Canada https://financialpost.com/news/economy/dont-tax-success-large-employers-pay-more #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
Goldy Hyder: Don’t tax success by making large employers pay more Read More »
You want to maximize your tax deductions to reduce your tax bill—the question is how. The IRS allows you to choose between itemizing all of your available deductions or using a single standard deduction based on your filing status. Which choice works best for you? To know for sure, you’ll need to look at your
Standard vs. Itemized Deductions: Which Saves You Money? Read More »
Get the value appraised before you do anything https://financialpost.com/investing/tax-consequences-selling-small-business-to-son #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 the tax consequences of selling a small business to my son? Read More »
Kim Moody: Tax reform and review needs to happen to counter the negative consequences of our tax system being tipped over https://financialpost.com/personal-finance/taxes/single-act-courage-fix-canada-tax-system #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 rich are frequently criticized for not contributing their fair portion of taxes. However, when examining income taxes, it becomes evident that the wealthy actually contribute more than their fair share. Here’s a chart displaying the proportion of income taxes paid by different income groups from 2001 to 2021. In 2001, the top 1% contributed
The Rich Pay More Than Their Fair Share Of Income Taxes Read More »
Sandra Fry: It’s tempting to treat a tax refund like a surprise windfall, but it’s worth putting your money to good use https://financialpost.com/personal-finance/debt/smarter-ways-put-your-tax-refund-work #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
Smarter ways to put your tax refund to work Read More »
Kim Moody: Taxpayers wasted money and tax professionals lost sleep only to be told the rules had changed https://financialpost.com/personal-finance/taxes/bare-trust-debacle-shows-cra-needs-respect-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
The bare trust debacle shows the CRA needs to learn to respect taxpayers Read More »
Jamie Golombek: Bare trusts will be exempt from trust reporting requirements for 2023 https://financialpost.com/personal-finance/taxes/cra-reverses-course-exempts-bare-trusts-new-regulations #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
CRA reverses course, exempts bare trusts from new regulations Read More »
You can use your tax refund to improve your credit scores by paying down debt, bringing debt payments up to date or starting an emergency fund to cover surprise expenses. With strong credit, you’ll be more likely to qualify for loans, credit cards and even an apartment lease. You’ll generally receive more competitive interest rates,
How Your Tax Refund Could Improve Your Credit Score Read More »
Kim Moody: Re-think criticisms of income averaging to restore fairness and equity https://financialpost.com/personal-finance/taxes/income-averaging-old-idea-deserves-another-shot #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
Income averaging is an old idea that deserves another shot Read More »
Jamie Golombek: Possibilities include changes to the capital gains inclusion rate, retirement taxes and top tax bracket https://financialpost.com/personal-finance/taxes/5-tax-changes-watch-upcoming-federal-budget #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
5 tax changes to watch out for in the upcoming federal budget Read More »
Kim Moody: To get access to significant cash handouts via credits, people must timely file their tax returns https://financialpost.com/personal-finance/taxes/cra-already-has-your-info-make-automatic-tax-filing-reality #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 CRA already has your info, so make automatic tax filing a reality already Read More »
Kim Moody: Rules invasive and complex, especially as they relate to requirement to file for bare trusts https://financialpost.com/personal-finance/taxes/new-trust-reporting-rules-daunting-expensive-fail-file-on-time #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
New trust reporting rules are daunting and expensive if you fail to file on time Read More »
Jamie Golombek: These tax tips should help reduce the anxiety that can come with filing returns https://financialpost.com/personal-finance/taxes/tips-keep-cra-off-back-tax-filing-season #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
5 tips to help keep the CRA off your back this tax-filing season Read More »
Opening a taxable investment account opens the doors to a world of investment choices, from individual stocks to mutual funds, exchange-traded funds (ETFs) to bonds, trusts to cash accounts. But all investment choices aren’t taxed equally. And more, not all investment vehicles will be mindful of your growing tax liability. Some investments are more likely
5 Investments to Keep out of Your Taxable Account Read More »
