What is Tax-Loss Selling?
Tax-loss selling, or tax-loss harvesting, is a strategy that allows investors to offset capital gains taxes by selling investments at a loss. This is particularly helpful at year-end, as it can lower your taxable income for the year by applying
Canadian Family Tax Planning: Strategies for Maximizing Benefits In 2024
When it comes to managing your family's finances, taxes are a critical aspect that can significantly impact your bottom line. Finding chances to optimize benefits for your family is an important part of tax preparation, which goes beyond simply fulfilling
5 Most Common Accounting Mistakes Small Business Owners Make and How to Avoid Them In 2024
Running a successful small business involves many components. Accounting is certainly one of them. However, many small business owners tend to make common accounting mistakes that can have significant consequences on their finances. Even minor errors such as overlooking expenses
Top 25 Tax Savings Tips For Expats Living In Canada for 2024
Living in Canada as an expat can have great financial benefits, but also some complex tax implications. Follow these 25 tips to make sure you maximize your tax savings while living abroad in Canada. 1. Claim Foreign Tax Credits If you paid
Unlocking Your Financial Potential: 5 Powerful Hacks to Maximize Tax Savings in the USA & CANADA
Tax Savings in USA & CANADA: Expert Strategies for Financial Freedom In today's dynamic economic landscape, understanding how to make the most of your tax savings in the USA and CANADA is crucial for securing your financial future. Are you tired
Tax Hacks: How to Legally Avoid Paying US Taxes While Living Abroad
As an American living abroad, you may have to pay taxes in both the US and the country you reside in. However, there are several legal ways to reduce or eliminate your US tax liability while still maintaining compliance with
Here is how to reduce taxable income in Canada as an ex-pat
Recently, North Americans in the United States have shown an increased interest in traveling to Canada. Moving to Canada from the United States is something that many people do for various reasons. Some people are drawn to the area because
The Truth About Gas Tax Holiday In Canada You Need To Know
Is Canada going to follow the USA on Gas Tax Holiday? Gas Tax Holiday is a scheme currently running in 5 provinces in the U.S. as a respite from the surging fuel costs. Under this scheme, state tax on cars and
What is New York’s gas tax holiday and how ex-pats can benefit from it?
As per the new policy aid down by the Biden Government, the gas tax (fuel tax) has taken a leave for seven months in New York City. To facilitate the citizens of New York City during the price surge of
Link Tax in Canada: What is it and how does it matter to ex-pats?
The link tax is one of the most controversial proposals recently furnished by the Canadian Government. It is modeled after the Australian tax system to support new channels. On their official website, Canada Government clarifies that this is a noble