As I have setup a corporation to hold my online business, I’m learning the ins and outs of how taxes work within a corporation.  More specifically, how to effectively extract money from a corporation in a tax efficient manner.  For example, the dividend sprinkling strategy allows effective income splitting for shareholders within the family. One thing…

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A couple I know recently welcomed their first child. The husband, an engineer by profession, was the sole breadwinner. He lost his job in this economic downturn and has been unemployed for the last few months. So? There are probably hundreds of thousands of people in a similar situation i.e., single income families, with a…

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I imagine, from a parent’s perspective, the prospect of co-signing for a son/daughter’s credit card stirs up a number of emotions and thoughts. There could be number of reasons why a young adult might want/need a credit card, from paying their tuition, to purchasing a big ticket item like a second hand car or perhaps…

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Welcome to the Million Dollar Journey February 2010 Net Worth Update. There was a small market correction in late January/early February but the market is still as resilient as ever bouncing back above the 50 day moving average.  As a result, my portfolio numbers remained status quo. The biggest financial move this month was that…

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