I hope the Canada Revenue Agency doesn’t come after me for writing this post If too many people read this article then our government will never have a balanced budget lol. Since it’s that time of year again the topic I’d like to discuss today is income tax, and how rich people are able to dramatically reduce their taxable incomes because they understand that tax brackets are a moving target, and we all have the ability to manipulate our income tax rates as we see fit…
The Olympics have been at the top of many peoples mind as athletes from around the world congregate in Sochi to compete in events that they have been preparing their whole lives for. It is an exciting time that instils pride in ones country and an opportunity for the host country to showcase all of its accomplishments. It is also a period that requires a large amount of planning, as host countries need to be able to handle an influx of visitors who will for the most part all be concentrated in a relatively small geographic region. With this in mind, it would make some wonder if there is an investment opportunity related to countries that host Olympic events.
Back in the fall, I wrote a post called How much is your car costing you?, where I calculated that I was spending around $300/month for gas and insurance (11% of my net monthly income). And that didn’t even include maintenance like oil changes, repairs, or the actual cost of buying the car.
Even though I concluded that having a car was a clear “want” and not a “need,” I still depend on my car to lead the lifestyle I want for myself. Deciding to live in the suburbs, that’s the choice I made. And it’s the right choice for me now, but I’m not sure if it’s the right choice for me in the future…Continue Reading