Taxes

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Jamie Golombek: How the federal budget 2024 will affect your pocketbook

Jamie Golombek: How the federal budget 2024 will affect your pocketbook

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 »

Corporate ‘excess profits’ tax? The federal budget could still hold some surprises

Corporate ‘excess profits’ tax? The federal budget could still hold some surprises

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 »

Goldy Hyder: Don’t tax success by making large employers pay more

Goldy Hyder: Don’t tax success by making large employers pay 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 »

Standard vs. Itemized Deductions: Which Saves You Money?

Standard vs. Itemized Deductions: Which Saves You Money?

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 »

FP Answers: What are the tax consequences of selling a small business to my son?

FP Answers: What are the tax consequences of selling a small business to my son?

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 »

A single act of courage is needed to fix Canada’s tax system, but this government won’t do it

A single act of courage is needed to fix Canada’s tax system, but this government won’t do it

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

A single act of courage is needed to fix Canada’s tax system, but this government won’t do it Read More »

The Rich Pay More Than Their Fair Share Of Income Taxes

The Rich Pay More Than Their Fair Share Of Income Taxes

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 »

Smarter ways to put your tax refund to work

Smarter ways to put your tax refund to work

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 »

The bare trust debacle shows the CRA needs to learn to respect taxpayers

The bare trust debacle shows the CRA needs to learn to respect taxpayers

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 »

CRA reverses course, exempts bare trusts from new regulations

CRA reverses course, exempts bare trusts from new regulations

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 »

How Your Tax Refund Could Improve Your Credit Score

How Your Tax Refund Could Improve Your Credit Score

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 »

Income averaging is an old idea that deserves another shot

Income averaging is an old idea that deserves another shot

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 »

5 tax changes to watch out for in the upcoming federal budget

5 tax changes to watch out for in the upcoming federal budget

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 »

The CRA already has your info, so make automatic tax filing a reality already

The CRA already has your info, so make automatic tax filing a reality already

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 »

New trust reporting rules are daunting and expensive if you fail to file on time

New trust reporting rules are daunting and expensive if you fail to file on time

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 »

5 tips to help keep the CRA off your back this tax-filing season

5 tips to help keep the CRA off your back this tax-filing season

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 »

5 Investments to Keep out of Your Taxable Account

5 Investments to Keep out of Your Taxable Account

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 »

Personal tax credits sound great, but they have a cost that quickly adds up

Personal tax credits sound great, but they have a cost that quickly adds up

Kim Moody: Small-dollar personal credits are obvious examples of politics entering the taxation system https://financialpost.com/personal-finance/taxes/personal-tax-credits-sound-great-costs-quickly-add-up #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

Personal tax credits sound great, but they have a cost that quickly adds up Read More »

The Latest Personal Finance News for March 2024

The Latest Personal Finance News for March 2024

Here’s the latest personal finance news, how it may impact your financial plan and what you can do to maintain your financial well-being. The First Wave of Forgiveness for SAVE Plan Borrowers Is Happening In late February, the U.S. Department of Education announced the first wave of forgiveness for eligible federal loan borrowers who have

The Latest Personal Finance News for March 2024 Read More »

A deeper dive into the CRA’s rules around using a tax-free FHSA to buy a home

A deeper dive into the CRA’s rules around using a tax-free FHSA to buy a home

Jamie Golombek: Here are answers to common questions, including what to know when one spouse already owns a home https://financialpost.com/personal-finance/taxes/cra-rules-tax-free-fhsa-buy-home #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 deeper dive into the CRA’s rules around using a tax-free FHSA to buy a home Read More »

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