RRSP stands for "Registered Retirement Savings Plan". It is a type of savings or investment account which was designed for Canadians to facilitate retirement savings. It is …
Myth: "I don't want a raise! It will move me into a higher tax bracket and my take home pay will be less!"
I've heard this many times, even from my beautiful mother! This is not true! Let's bring up my SAMPLE tax table as a refresher: $0-$10,000 = 0% Tax Rate $10,000-$20,000 = 10% …
What is a "Marginal Tax Rate?"
This is a basic concept that should be understood as it is referred to on a regular basis. When you look it up, the definition almost always seems to include this: "The percentage …
What is a "tax write off"?
One common misconception that people have is their understanding of a "tax write off". Often you will hear someone say "I can write that off...", in this case they are referring to …