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Financial Planning

My husband and I file our own taxes each year. I’m not a tax expert, but I try to educate myself so I can lower my taxes wherever possible. Can you give me any basic advice or tips so I can make sure I’m being smart about taxes and taking advantage of any tax saving strategies available to me?

By Anonymous user

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2018/01/04 13:58:46 Hi Anonymous user,
Happy New Year! I like to congratulate you and your husband in taking the interest in your own finance. It's true that i Canada, it is not how much you can earn, it is how much you can keep.

Yes, the goal is to reduce tax. However, there are other things to consider including investment, retirement, education, emergency, and insurance to build wealth. I suggest that both of you work with an experience adviser to learn more about how financial planning works.
2018/01/03 19:09:47 Mack Chen The deadline for filing 2017 taxes is still several months away – April 30th, 2018 for most Canadians, and June 15th, 2018 for individuals who have self-employment income (although the due date for any balance owing is still April 30th, 2018).

Of course, while the deadline for filing your taxes is still months away, the 2017 year-end is only weeks away, and most strategies discussed in this post would have to be implemented before December 31st in order to effective for the 2017 tax year.
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