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As tax season approaches, it's crucial to make the most of every tax deduction available. One often-misunderstood deduction is medical expenses. In this blog post, we demystify eligible medical expenses, explain the difference between tax deductions and tax credits, and share practical tips on maximizing your tax deduction to avoid leaving money on the table.
The recent collapse of Silicon Valley Bank has raised concerns about the stability of financial institutions. As news circulates, many wonder if Canadian banks are at risk of a similar fate. In this blog post, we address the reasons behind SVB's collapse, analyze the safety of Canadian banks, and explain why the Canadian banking system remains strong and well-regulated.
When is the right time to teach kids about money, and how can we do it effectively? This blog post explores the importance of teaching kids about money from an early age, the value of saving, and practical tips to help kids and teens develop healthy financial habits. Start early to set your children up for a lifetime of financial security.
As the 2022 tax-filing season approaches, it's essential to mark your calendar with important dates to ensure a smooth filing process. From receipt deadlines to RRSP contributions and filing dates, this blog post highlights key dates and crucial information to help you stay organized and meet your tax obligations.
Learn about the factors to consider when deciding to apply for life insurance and understand why it's not solely dependent on age. Discover the importance of life insurance for those with dependents, mortgages, or financial responsibilities, and explore the differences between term life and permanent life insurance. Get insights into determining the appropriate coverage amount and the benefits of securing life insurance early.
Stay informed about the upcoming changes to Canada Pension Plan (CPP) and Employment Insurance (EI) contributions in 2023. Learn about the impact on your paycheck, cashflow, and retirement benefits, as well as the reasons behind these increases. Understand the new rates and maximum earnings thresholds for CPP and EI, and how they align with the broader plan for working Canadians.