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Apr 30, 2012

5 common misconceptions about your tax refund

Most people know they’re getting money back, but few have any idea why

5 common misconceptions about your tax refund There are a number of reasons why you might get a tax refund this year. And while your reaction is likely the same – ecstatic (the bigger, the better right?), have you ever wondered if getting a refund may not actually be in your best interest...quite literally? Indeed, there are probably a lot of things you don’t know about your refund – and, as with most financial misunderstandings, some of these can cost you. We clear up the confusion and make sense of five common misconceptions surrounding your tax refund. read more »

 
 

Apr 23, 2012

Stop procrastinating! Last-minute tax tips for Canadian filers

Trying to run from your tax bill will only end up costing you more - so suck it up and file already!

Stop procrastinating! Last-minute tax tips for Canadian filers Filing taxes is a lot like yard work - we’d all love to get out of doing it (isn’t that what husbands and teenage kids are for?), but when it comes to dealing with your tax return, it’s time to forget the stall tactics. No matter how long you prolong the matter, you have to file – even if you don’t have the money to pay. And if you haven’t filed yet, it’s time to get a move on it! Here’s what you should be doing now. read more »

 
 

Feb 13, 2012

Holding on to a bigger slice of the pie: 8 tax breaks you may be missing

How to capitalize on often-missed tax credits and deductions

Holding on to a bigger slice of the pie: 8 tax breaks you may be missing Serving a slice of income to the government is a bit like having an unwelcome guest at the dinner table – one who grabs a second helping of pie before you even sit down to dessert. Unfortunately, this is one guest who’ll show up uninvited each and every year. But rather than dread the taxman’s arrival, it’s time to get shrewd, smart and serious about tax deductions. Because while CRA (Canada Revenue Agency) justifiably aims to collect the minimum amount of taxes you owe, it’ll also quite happily accept any extra amount you may inadvertently (and unnecessarily) pay. Consider some of the things that taxpayers typically overlook - and the deductions and credits that are often left on the table. read more »

 
 

Feb 6, 2012

Tax truths: 4 things you may not know about your taxes

When it comes to taxes, everyone has an opinion but hard facts are few and far between

Tax truths: 4 things you may not know about your taxes When it comes to taxes, it seems that everyone has an opinion. Whether it’s the way they’re spent (or misspent), or whether we should pay less (or someone else should pay more), this surprisingly feisty topic is hardly neutral ground. Indeed, bring up taxes at a cocktail party and you’re likely to stir up a debate that could very well get ugly, especially around tax time. The problem is, much of the typical tax tirade isn’t based on facts. Here, we explain some common misconceptions. read more »

 
 

Jan 16, 2012

Fees: your portfolio’s silent killer

Is your portfolio hemorrhaging money in the form of fees? Find out how to plug this profit leak!

Fees: your portfolio’s silent killer If you’re like most investors, you’re probably concerned about the returns you get in your portfolio. If they’re reasonably high, it’s all good, right? Not exactly. In fact, while you’re counting your spoils, you may quietly be losing a large portion of those returns in the form of fees, which can drag down your portfolio returns by several percentage points in some cases. The truth is that the fees you pay are as important as the returns you receive because they all add up to how much money you get to keep. Find out what you can do to make sure you get the best overall returns by pulling the plug on high fees. read more »

 
 
 
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