U.S. citizens living in Canada not only have to file Canadian tax returns reporting their worldwide income, but they also have to file U.S. tax returns reporting the same income. That’s because the U.S. imposes taxes and filing requirements based on citizenship, not residency. To make matters worse, if the
A couple we’ll call Harry, 35, and Tina, 37, are thriving in their careers. Harry, a geologist with a large company, brings home $5,730 a month. Tina, a management consultant in the chemical industry, adds $3,880, for total monthly disposable income of $9,610 a month. They have a two-year-old child.
The S&P/TSX Composite Index was down triple-digits as of mid-afternoon trading on October 4. Canadian stocks have not responded with as much momentum as their American counterparts in the aftermath of the new trilateral trade agreement between the United States, Mexico, and Canada. Investors who are looking for growth in
Lacey Hamilton hopes to attend the 2018 Winter Olympics in Pyeongchang, South Korea to cheer on the Canadian athletes. To save for the trip, the 22-year-old Mississauga resident drops spare change and $5 bills into a 0.9-litre mason jar that she empties into a savings account when it becomes full.
Canadian investors love to think they are true masters of their financial kingdom when in practice most studies show many of us don’t realize small insights that could be very beneficial. We’ve uncovered some interesting things, shown below, that every investor should know. What are your thoughts? Have any more?
It seems the conversation of investing in a tax-free savings account (TFSA) becomes quieter and quieter as the months go by in a year, and the conversation is most vibrant at the start of the year. Saving and investing should be a consistent act, so I’m bringing it up again.