Saving for your first home? With today's real estate prices, you might be saving a little longer than you'd like. To try to help, Canada has created the new First Home Savings Account! This new tax-free savings account could be the thing you need to boost your savings.
Did you look at Canada's proposed federal budget for 2023? There's not a lot in there for most of us, but it's definitely worth looking at!
It's a shame to say, but "tax season" and "scam season" are starting to be synonymous. Taxes are complicated, and scammers love to try to take advantage of people and trick them into giving up money or sensitive personal information. Stay informed! Don't fall victim. Learn how to stay safe.
Owning a rental property is not easy. And not just because of bad tenants! Even the financial side of it can be complicated, and it's important to make sure you get it done right or it could cost you big. If it were easy, everyone would do it! Hire an accountant to make sure you've got the business plan done well and know what to expect.
Have you been keeping up with your bookkeeping for your business? It's a task that many people fall behind on or just don't do at all, and it can cause some real headache. Especially around tax season.
'tis the season! Everybody is getting their T4s from their employers and it's time to file your taxes for last year. There can be some pretty significant penalties for filing or paying late, but there's never any penalty for filing early. Check your deadlines!
Upgrading your home to make it safer for yourself or a senior loved one? Make sure you claim that! But take care to make sure it's properly documented and that both you and the expense are eligible.
Married? Awesome. Not only for your home life, but also for your finances! There are plenty of ways to split your income with your spouse that can save you a buck or five on your taxes at the end of the year. But it can be tricky, so make sure you get it done right.
There's a big difference between someone who works for themselves from their home and someone whose employer allows them to work from home. And not just for how you structure your day! It can play a big role in how you file your taxes.
Working from home? Great! Time to save a little on your taxes. There's a couple of ways to tackle this one, so make sure you pick the one best suited for you!
