Tag: Personal income tax tips

Life Insurance for a Family of One

We spend a lot of time talking about how couples, families and businesses can protect their financial futures with life insurance. But what about if you are single—do you need life insurance, too? There are those people who have no children, no one depending… Continue Reading “Life Insurance for a Family of One”

2020 Personal Income Tax Changes You Need To Know

When you look at your household budget, the amounts you’re spending on mortgage/rent, transportation and food are usually top of mind. While all those expenses certainly matter, something else you should keep a watchful eye on is income tax. It’s the single biggest expense… Continue Reading “2020 Personal Income Tax Changes You Need To Know”

Stop Thinking Of Your Goals As Resolutions

Did you make a New Year’s Resolution this year? Why not ditch the resolutions this year and make some smart goals you want to reach instead. There are a couple of reasons why resolutions may not work well for you. If they do, great.… Continue Reading “Stop Thinking Of Your Goals As Resolutions”

3 Money Tips to Follow Before Baby Comes

I have found the biggest mistake young families make is not planning prior to the arrival of their children. The fact is, the better you prepare for your financial future before baby is born, the better you’ll be prepared for the unexpected. New parents do not completely… Continue Reading “3 Money Tips to Follow Before Baby Comes”

What medical expenses can I claim on my taxes in Canada?

Medical expenses can be claimed on your tax return through the Medical Expense Tax Credit (METC).  The Medical Expense Tax Credit is a non-refundable tax credit (cannot bring your taxes owed above 0) which is calculated by taking the lesser of 3% of your… Continue Reading “What medical expenses can I claim on my taxes in Canada?”