March 2008 Net Worth Update: (+1.17%)

By FT | March 31, 2008 |

Time for another net worth update:  The March 2008 Edition! There is a saying in Newfoundland that would describe the markets perfectly..  “The arse has fallin out of her.”  When will the markets find a bottom?  Are we there yet?  In terms of market returns, the only reason my retirement accounts are showing positive relative…

Read More

Differences in Non-Refundable Tax Credits and Tax Deductions

By FT | March 27, 2008 |

This is a pretty common question asked during tax season.  What exactly is the difference between a non-refundable tax credit and a tax deduction? Tax Deduction A tax deduction reduces your income for the year which can potentially mean that you’ve over paid on your taxes.  Come tax return season, you’ll get a refund on…

Read More

Informal In-Trust Accounts

By FT | March 20, 2008 |

I received an email from Leah the other day asking what are some options for investment accounts for children.  Right away, I thought about RESP accounts, however, those aren’t for Leah as they are too restrictive. I can see the new Tax Free Savings Account (TFSA) being an alternative to the RESP, however, the rules…

Read More