Unfortunately…this ceiling can’t be fixed with some Spackle and elbow grease! The debt ceiling has some pretty large holes and everyone’s to blame, but it’s nobody’s fault! For those that don’t have BNN playing 24/7 at reception in their office, the debt ceiling is the amount of the money the US government is allowed to borrow to meet its existing legal obligations. The US Treasury has authorization to borrow money Read More ...
FAQ: How do you become wealthy? Live on less than you make, think, don’t be too busy (still working on this!). Pick up pennies. It’s a good discipline and it makes you think twice about grande or Venti…(I never finish a grande anyway). Pay less tax…over your life, no greater expense than tax, yet we take it lying down (think about it) :: split, defer, convert…repeat! Wealthy is a state Read More ...
“The only thing certain in life is death and taxes.” Well, these days rising gas prices also seem to be pretty certain. Hitting us well before the typical “summer boom” gas prices are through the roof, with no end in sight. While most Canadians have gotten used to triple digit gas prices, I have yet to meet anyone that is happy with it. With gas prices above $1.30/litre, many in Read More ...
Supply and Demand…it truly is a beautiful thing. Vancouver Canuck’s fans are experiencing this first hand this week as today the prices came out for just how much a ticket to the Stanley Cup final costs. According to FanSnap (a US website that allows users to search multiple ticket reselling websites), the average ticket price for Canucks home game is $1,900 and the average for Boston Bruins home games is Read More ...
Recently one of our older clients brought us his 1957 T1 Return, sort of like “show and tell” for accountants. I gave it a quick look and was surprised by how similar the format and the basis of calculation is to 2010. The bigger surprise was the tax table. The highest marginal rate was 78% for income over $400,000? But how much is $400,000 in today’s dollars and what about Read More ...
“Choose Easy.” Even the slogan irks me. Doing your own tax return is easy with TURBO TAX…. I find this amusing! You spend your life planning, executing, filing, arguing, appealing and even going to tax court on occasion and some computer geeks and marketing guys develop a program to do it your self!!! Next Turbo Teeth and Turbo Brain Surgery. My dad always said, Son, you get what you pay Read More ...
Here’s an important breakdown of the some of the tax deductions that you may or may not know about. This list is obviously just a tip of the iceberg, but offers an outline of many key deductions that you should know about. You can also download it HERE.
It’s not quite as bad as “Star Trek: The Next Generation” but it’s a close second. People are always asking us about trends. Interest rates, stock charts, social media and above all; the next generation. We have all heard the media go on about how the 20 and 30 somethings represent the first generation to not exceed their parents, and how social media and violence in gaming is creating a Read More ...
As we’ve mentioned in a few previous posts, we’re trying to connect with clients in new ways in order to both improve our responsiveness to support needs and leverage new social media and business trends. In addition to adding a twitter and facebook account, we have started to accumulate a mailing list that will be used to keep clients up-to-date with relevant tax and accounting information. This mailing list won’t Read More ...
It’s no news hearing that consumer debt levels in Canada are alarmingly high; in 2008 household debt was as high as $96,000 whilst debt-to-income levels had risen to 145%. The interest rate decrease from a few years ago didn’t really help the cause as it only encouraged more borrowing. Unfortunately, this was intentional, aimed at digging Canadians out of the recession. The question remains however, what will happen when Canada Read More ...