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Posts from the ‘Tax’ Category

Apr 11

Understanding Deductible Debt – How to Decide What Debt to Pay Down First and How to Create a Bigger Tax Deduction

In today’s expensive world, many of us need to pinch pennies to make ends meet. When times are tight, it may seem like the only way of balancing the books is finding a new job or scaling back your Starbucks addiction. While it still might come to this, there may be some other steps to consider that may allow you to continue enjoying your double chai latte without having to dust off your resume; tax planning can put money back in your pockets and maximizing your deductible interest may be a big contributor to this refund.

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Mar 17

You, Me and the CPP – Part 2

Although the CPP retirement pension is usually the centre of attention, it is not the only way you may collect CPP benefits. Although I do want to focus on retirement benefits and things to consider when deciding when to claim them, the lapsed Catholic in me would feel guilty if I didn’t spend some time explaining some of the other ways to get paid by the CPP.

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Mar 4

You, Me and the CPP – Part 1

For many of us, our Canada Pension Plan will play a meaningful role in our retirement planning. All the same, many Canadians don’t fully understand how it works and the choices we have when we look to start retirement benefits. In this article, I will first provide a brief summary of the CPP and some of the changes that have been enacted over the last 15 years to protect its ability to pay out the promised benefits going forward.

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Feb 11

Tax Planning – When Procrastinating Can Actually be a Good Thing – Part Two

Part One of this article focuses on how you can often save money on your taxes by deferring when you trigger income taxes. Although you can maximize your savings if you can arrange to trigger this day of reckoning until a time when you are in a lower tax bracket, you may still be ahead of the game even if you would still end up in the same tax bracket; although you may not save any taxes, you would still be ahead after taking any interest saved on loans or any investment income you receive during extra time you have the use of the money that will eventually be used to pay taxes.

Part Two explains steps you can take to give yourself this type of flexibility.

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