Taxes

Audit Defence Plans. Is it for you?

Posted by on February 17, 2009 in Taxes

As previously reported by Michael James and Canadian Capitalist, QuickTax is offering this year “Audit Defence Services” for $39.99. The company is part of a growing trend in the tax, book-keeping and accounting fields to offer this option to traditonal tax prepartion and filing services.  What exactly is the nature of this service and is [...]

How important are tax considerations in investing?

Posted by on January 6, 2009 in Taxes

Starting this year, Canadians can set up a “Tax Free Savings Account” (TFSA); more details on the TFSA can be found in other blogs). The TFSA is one of the better tax structures invented by government- short of the relatively modest contribution maximum of $5,000/year and lack of credit-proofing, it is pretty much a well [...]

What happens if I get audited?

Posted by on December 2, 2008 in Taxes

I am never sure if there is some devilish intent in the tax-collectors in Canada and the U.S. having the name “revenue” in their department. If nothing else, it shows you what the true role of these departments are- they are the revenue makers for the government. As general tax revenues decrease in down-times, guess [...]

The most important lines in your tax return…

Posted by on April 25, 2008 in Taxes

I filed my taxes on Wednesday. Perhaps, influenced by blogging, this was the first year I truly looked at my tax return closely above and beyond looking at the refund or payment line on the last page of the return. Reading the last page of the tax return is akin to buying a book and [...]

Contribute to Retirement or Pay Down Your Mortgage? Part II

Posted by on June 6, 2007 in Investment Strategy, Real Estate, Taxes

This post is part two of my contribute to retirement or pay down your mortgage debate. Part I can be found here. Rather than argue for one side or the other, I have run some real life scenarios to see what I would do: SCENARIO THREE- equity in home is modest and so is retirement [...]

Contribute to Retirement or Pay Down Your Mortgage?

Posted by on June 5, 2007 in Investment Advice, Real Estate, Taxes

Its taken me almost 50 posts but I thought I would finally wade into the contribution to retirement (through an RSP, 401K or IRA) or pay down your mortgage. There seems to be an equal proportion of advocates supporting paying down the mortgage as those who support contributing to retirement. My thoughts on an emotional [...]

Structuring Your Stocks and Real Estate Investments: Some Considerations, Part II

Posted by on May 8, 2007 in Real Estate, Taxes

In the first post on this topic, I outlined some considerations in structuring real estate investing. This post continues these considerations in the context of stock/dividends and other income: Stocks/Dividends and other investment income: Outside of a corporation, consider having all the stocks issued jointly with your spouse to avoid probate and other estate taxes. [...]

Structuring Your Stocks and Real Estate Investments: Some Considerations, Part I

Posted by on May 8, 2007 in Real Estate, Taxes

Re Money and the Money Diva have recently commented and posted respectively on the tax aspects of investments. Specifically, there have been comments or posts about tax issues with investing in dividend stocks, the tax characterization of certain income trusts and possibly the tax aspects of real estate investments. Since taxes on investment income is [...]

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