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How much allowance should you pay your child?
There’s no two way about it – kids are expensive. A common statistic found on both sides of the border is that a child will cost $250,000 over 18 years to raise. That works out to $1150 per month.
What is the medical expense tax credit, and does it apply to me?
In the past year I have fortunately been diagnosed with celiac disease and moderate hearing loss. I say “fortunately” because these afflictions are…
A 3-Week Meal Plan that will save you time, money and your sanity
Like most people with careers and kids, mine is a busy family. This lifestyle involves the relentless tasks of homework, housework, yard work, pickups, drop offs, and of course the most unceasing of all…keeping everyone fed!
What is your personal inflation rate?
~Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.
Ronald Reagan
Defined Benefit Pensions: Take it or leave it?
If you belong to a defined benefit pension plan, you will eventually need to make a choice between guaranteed monthly payments from your employer and a lump sum, or “commuted value”, that you invest to provide a retirement income stream.
The oversight that could cost your RESP hundreds of dollars
Registered Education Savings Plans (RESPs) are the best way to save for your children’s education. That’s because the government provides at least a 20% match of your contributions*, and who doesn’t love free money?
Time to get your docs in a row – tax season is always coming!
Whether you keep your tax records in a fireproof safe on the second floor, stacked up beside the microwave, or in five coloured folders in your home office…
What happens if I’ve over contributed into my TFSA?
First – why do you think you’ve over-contributed? Is it because your account value exceeds the accrued contribution limit?
How do I find out what my TFSA contribution room is?
As I write, in 2018, the Tax-Free Savings Account (TFSA) program is ten years old. And what a fine ten-year-old it is! Who doesn’t love being able to set money aside tax-free, for a lifetime?
