Financial Bubble Still Here with Yet More to Unravel?

Financial Bubble Still Here with Yet More to Unravel?Is there such a thing as a secular financial bubble? Has the financial sector become bloated out of proportion to the economy over the last few decades and is there be a contraction in store, abrupt or prolonged, back to a smaller financial sector? Was the crisis of 2008 merely the start? I’m not sure of the answer but a couple of data points have stuck in my mind recently:…

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Eldercare

EldercareReader submitted question: Q – Me, my sister and my uncle are sharing the cost of keeping my father housed in a care facility because his gov’t monies & pension do not cover the monthly fee. My understanding is that we cannot claim our contributions because my father is not a dependent who resides with any of us. Is this true? Thanks! Answer provided by Intuit’s Ask A Task Expert:…

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Future Shop’s pricing error leads to reforms

Future Shop's pricing error leads to reformsCustomers often run into pricing errors when buying items online — and when they say they want the original price, they get nowhere. This happened to Tad Klupsas, who’s legally blind, so he filed a complaint to the Ontario Human Rights Commission against Future Shop. His story interested me enough to write about it earlier this month…

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Canadian Mortgage Concerns: Banks

Canadian Mortgage Concerns: BanksI’ve often heard in business that once is a coincidence, but twice is a trend. Canadian banks have performed quite well both during and after the credit crisis of 2008/2009 and despite a low interest rate environment have had robust mortgage numbers for a number of consecutive years. We’ve all heard Canadian politicians touting the health of the Canadian banking industry but I have to wonder at which point problems…

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Adopted recently? This tax tips for you.

Adopted recently? This tax tips for you.If you’ve recently adopted, or know anyone who has, this Canadian tax advice is for you, courtesy of Intuit (think: QuickTax) Here was the original reader-submitted question: Q – Is there an adoption expenses tax credit? We adopted in 2009 and have paid various expenses to an adoption agency, are any of them tax deductible? Our adoption will be finalized in 2010. And the answer, supplied by Caroline on the…

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Segregated funds: The High Price of Security

Segregated funds: The High Price of SecurityDuring the RRSP campaign, I met one of my clients who held investments with Manulife for a while. During our meeting, he showed me his investment statements from the other company. He had invested in segregated funds for the past 10 years and wasn’t happy with the results. While I am not bashing Manulife (I still took it in my portfolio for our best 2010 stock picks contest), I can’t…

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Dealing with the Canada Revenue Agency

Dealing with the Canada Revenue AgencyHere are two stories that show how important it is to know how much tax you owe and pay the right amount. If you don’t, the government can hit you with heavy penalties. In the first case, a woman sent a cheque for what she thought she owed. The Canada Revenue Agency didn’t cash her cheque and sent her a big refund in error. Many months later, it demanded repayment,…

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