With the cost of living rising faster than our wages, it can be hard to set aside money for savings or for taxes at the end of the year. Try using the $5.34 rule to save small amounts frequently so it can add up and contribute to your future!
Protect yourself from scammers! Fake websites and phone calls and emails are at an all-time high, and they are getting harder and harder to tell from the real thing. Some people have lost tens of thousands of dollars. Don't let it happen to you!
Protect yourself from scammers! Fake websites and phone calls and emails are at an all-time high, and they are getting harder and harder to tell from the real thing. Some people have lost tens of thousands of dollars. Don't let it happen to you!
Canada Child Benefit (CCB) is the topic of much discussion these days. It has been increased by over 6%, but has had some of the thresholds changed. Similarly, there have been some reports of overpayment that the CRA is coming back for.
Do you own a business that sells products or services to customers in other provinces? Did you know that you most likely have to pay taxes there, too? Make sure you don't get caught out this tax season with a bunch of money owing to other provinces.
Interest rates are high and they just keep getting higher. There are rumours that it might start to decrease in a couple of years, but most peoples' mortgages are going to renew before that! Be prepared. Start working now to make sure you have the room in your budget for an extra few hundred dollars a month.
We work hard to save people as much money as possible on their taxes. But you know what makes that impossible? People who have so little information about themselves that we cannot even access their CRA account. Don't make things harder for yourself than you need to! Keep your files and papers straight and tax season will be smooth sailing.
Did you take CERB that you might not have been entitled to? How about a CEBA loan? Both of these things are coming due, and the CRA is not going to play around. Make sure you open your mail when you receive it and make arrangements to pay!
Did you file your taxes this year? What about last year? How far behind are you? Even if you know you will not be able to pay your bill, you should file your taxes. Yes, you will accrue interest on the amount you owe, but this will happen when you eventually file anyway. And, by filing on time, you save yourself the penalties!
If you owe the CRA money, make sure you pay up! Do not just bury your head in the sand and hope it will go away on its own, because it won't. Even if they are not calling you about it, it is still accruing interest...
