When refinancing your mortgage, you may wonder if you have to pay Canada Mortgage and Housing Corporation (CMHC) fees. The answer depends on the type of mortgage you have and the lender you’re refinancing with. If you have a high-ratio mortgage (meaning you put down less than 20% of the home’s value), you’ll likely have … Read more
TurboTax has incorporated the latest unemployment tax law changes into its software. These updates reflect the American Rescue Plan Act and other recent legislation, ensuring that users can file their taxes accurately and efficiently. Taxpayers can rest assured that TurboTax will guide them through the necessary steps to account for unemployment compensation received in 2020 … Read more
Combining finances after marriage can be an important decision with both potential benefits and challenges. Some couples find that merging their accounts simplifies budgeting and expense tracking, enabling them to make informed decisions about their shared financial goals. Additionally, a joint account can provide a sense of unity and transparency, allowing both partners to have … Read more
A W9 form, also known as a Request for Taxpayer Identification Number and Certification, plays a crucial role in tax administration. It is used to collect essential information from individuals or businesses who receive payments from other parties. The W9 helps the payer accurately report the payments made to the recipient and ensures that the … Read more
Earning money can be a worthwhile objective, offering both financial stability and a sense of accomplishment. Whether it’s for personal needs, family support, or long-term goals, setting financial objectives can provide a framework for responsible planning and decision-making. By establishing clear earning aspirations, individuals can develop strategies to increase their income, manage expenses, and plan … Read more
Investing in education is crucial for several reasons. Firstly, it empowers individuals with knowledge and skills, enabling them to contribute to society and drive economic growth. Moreover, education fosters critical thinking, problem-solving abilities, and innovation, leading to advancements in various fields. It also promotes social mobility, as it provides opportunities for individuals from diverse backgrounds … Read more
Divestment refers to the intentional sale or disposal of assets or investments, typically to reallocate funds or focus on different strategic goals. In contrast, disinvestment is a more passive approach that involves the gradual reduction of investments or assets over time. Disinvestment can occur due to factors such as changes in market conditions, underperformance, or … Read more
Hamid’s hard-earned money burned a hole in his pocket. He itched to spend it on Eid, the joyous Muslim festival. With gleeful anticipation, he set out to the bustling market. There, amidst the vibrant stalls, Hamid’s eyes sparkled with excitement. He carefully selected a new outfit, its vibrant colors and intricate embroidery promising to make … Read more
Like many other investment professionals, venture capitalists earn revenue by charging fees to the funds they manage and to the businesses they invest in. The fees they collect can add up to a substantial amount of money, particularly if the investments perform well. If a venture capital firm generates a successful exit, such as an … Read more
If you receive a TPD payout, it’s important to understand your tax obligations. TPD payouts are generally tax-free, but there are some exceptions. For example, if you receive a lump sum TPD payout, you may need to pay tax on the earnings portion of the payout. Additionally, if you receive regular TPD payments, they may … Read more