Income Taxes and the Self-Employed

by Guest

According to Statistics Canada, just over 2.7 Million Canadians were self-employed in 2009.  That’s almost a 100% increase over the 1.4 Million Canadians self-employed in 1981.  Self employed business people and contractors have the luxury of certain tax deductions, which their employed counterparts do not have.
So what can the self-employed deduct?
Below is a general list [...]

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Compulsive Shopping/Spending Disorder (CSD)

by Ray

I was not aware of the seriousness of Compulsive Shopping/Spending Disorder (CSD) until I recently took a closer look at it. CSD is very similar to other addiction issues such as alcohol, smoking, drugs and sex. Although CSD is not specifically listed in the Diagnostic and Statistical Manual of Mental Disorders (DMS), it does seem [...]

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Weekly Round Up – Go green and Save, is Indexing passive?, Skill or Luck and Much More

by Ray

We have a second article running in the first round of the March Madness and NEED YOUR HELP!! Head over to Free Money Finance March Madness Round 1 and vote for our article Your Money Attitude. Voting is easy just leaving a comment with our title “Attitude”.
What My First Job Taught Me – Million Dollar [...]

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New Mortgage Rules: Good or Bad?

by Ray

After months of debate finance Minister Jim Flaherty announced the new mortgage rules for Canadians. Mr. Flaherty said there is no real estate bubble, but the government is being “proactive” (something that does not happen often). The intention of the new mortgage rules is to reduce the risk in the housing market, by increasing the [...]

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Dollar Cost Averaging as an Investing Strategy

by Ray

When is the best time to invest? What is the best way to invest?  These are the two most common questions I have received from clients in the past and readers now. My answers are always the same, best time to invest was yesterday, but today is the next second best opportunity. The best time [...]

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Weekly Round Up – Olympics Edition

by Ray

Another Lost Decade @ The Canadian Capitalist
The Invisible Rich @ Gail Vaz-Oxlade
Will We Ever Again Trust Wall Street? @ Wall Street Journal by Jason Zweig
Five Common RRSP Pitfalls @ Globe & Mail
Multipurpose Money @ Canadian Finance Blog
Millionaire Gives Up Fortune to be Happy @ The Age
Index Funds vs Active Funds @ The Oblivious Investor
Future of [...]

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Study Shows ID Theft on The Rise: Tips to Protect Yourself

by Ray

Identity theft is one of the fastest growing crimes in North America. A recent study by Javelin Research found that in 2009 ID theft affected 11.2 million consumers costing about $54 Billion! This is a staggering increase from 2008 where 9.9 million people were affected with a cost of about $48 billion. If you have [...]

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Tax Tips: How to Maximize Your Tax Deductions?

by Guest

Spring is a beautiful season. It’s a season where the temperature slowly rises, the snow begins to melt and flowers start to bloom. Summer is fast approaching and for the majority of Canadians, we cannot wait!

Spring also signifies that Tax Season is in full swing. We hear the advertisements on the radio, television, read them [...]

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Financial Planning Myths

by Ray

Having been involved in the financial planning field for a while, I have heard and seen many misinterpretations of financial planning. Last year I ran a few posts about financial planning and the steps involved in this process. However, this article highlights some of the financial planning myths that continue to surround us.

Myth: Financial Planning [...]

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Weekly Round Up-Stock Myths, Valentines, Con Artist and More

by Ray

Where to stash your RRSP dollars Globe and Mail
Hard Times Can Bring Out Con Artists WSJ
Valentine’s Day War of the Roses Smart Money
Six Common Myths about Stock Market Returns Million Dollar Journey
What happens when a broker goes bankrupt? Canadian Capitalist
Reducing Your Spending While Intoxicated Canadian Finance Blog
What Won’t You Spend On? Gail Vaz-Oxlade
Personal Finance Equations [...]

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Finding the Best Discount Broker for RRSP

by Ray

The RRSP deadline is getting closer and investors are rushing out to make their 2009contributions in time. With so many discount brokers out there, how do you know which discount broker is best for you? You can see our comparison of Discount Broker for RRSP and TFSA if you want a quick overview of your [...]

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