…only use line 232 to claim allowable amounts not deducted anywhere else on your return. You can’t use this line to claim personal or living expenses that are not legitimate…
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If your child doesn’t continue their education
…Under specified plan rules, RESP accounts for beneficiaries eligible for the disability tax credit can stay open for up to 40 years. Group RESPs have different rules and restrictions, so…
Answers to investing questions you may be too embarrassed to ask
…Plan (RRSP) is an account, registered with the federal government, that you use to save for retirement. RRSPs have special tax advantages. Here is how RRSPs work. What is a…
Insuring a home-based business
…complete your work and leave. Examples: personal trainers, housekeepers. 4. Using your car for business purposes You’ll need special car insurance. 5. Claims against products you sell You may need…
How to buy and sell stocks
…give you, and for buying and selling stocks. Discount brokerages – These tend to be online firms. You’ll pay lower commissions because you don’t get advice or help choosing investments….
How Group RRSPs and Group TFSAs work
…to a RRIF), used to buy an annuity, or taken in cash (it will be taxed as income in the year you receive it). Summary Group RRSPs and TFSAs work…
Investing as a small business owner
As a small business owner, you work hard for your money and your money should work hard for you too. Here are some financial tips for your business and your…
Affinity fraud
Fraudsters work their way into groups their target belongs to and work to gain their trust. After they create strong relationships, they convince people to invest in their scheme. Find…
Familiarity bias: The limits of going with what you know
Do you only invest in GICs or a handful of stocks because they are familiar? That could be because of familiarity bias. When it comes to investing, you may miss…
Herd behaviour: When following the crowd isn’t in your best interest
Have you ever bought a shirt because a lot of your friends were wearing one like it too? Or did you want to get the newest smartphone because you kept…