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June 15, 2018 has come and gone, and with it the small business tax deadline for the 2017 tax year. But if you missed it, that doesn’t mean you can wait another year to file. Filing taxes after the self-employed tax deadline isn’t advisable (it’s really best to file before the deadline), but it’s better

Wage garnishments are a nightmare for many people, but with a little knowledge, you can find a way out of the darkness. First, what is a wage garnishment? In Canada, there are three types of wage garnishments: Canada Revenue Agency (CRA) A CRA garnishment can take up to 50% of your employment earnings and 100%

Have you heard or read the phrase “no tax receipts, no problem”? It sounds too good to be true, right? Unfortunately, that’s because it is. Many people fail to file their personal taxes on time because they don’t have all of their tax receipts. Often, they assume that they can’t be assessed until they file.

Rising mortgage rates are top of mind for many Canadians in 2018, and if you’re already in debt, increasing interest rates can be particularly worrisome. Since July of 2017, the Bank of Canada has increased Canadian interest rates from 0.5% to 1.25%. While this is still a relatively low interest rate in historical terms, the

In 2016, “Tara” divorced her husband. But what she didn’t separate from was their joint debt. During their marriage, Tara’s ex-husband David had taken on more and more debt, even opening credit cards in Tara’s name and one credit card where he was the secondary cardholder, but Tara was the primary. The cards paid for

The self-employed tax deadline for the 2017 year is approaching on June 15, 2018. Are you prepared? Even though the deadline for sole proprietors to file is June 15, it is better to file earlier as the Canada Revenue Agency (CRA) can start applying interest to any amount you owe beginning after April 30. If

Learning how to get out of debt can be a challenge, but it is possible. Often, paying off debt takes time and sustained effort. And while slow and steady can certainly be effective in most cases, what if you need to pay off debt quickly to qualify for a loan or a mortgage?  If you

If you live in Canada, you’ve likely heard the term “credit score” before, and know that it’s important for qualifying for loans, applying for mortgages on property, or even getting a new job. But what is a “good” credit score? A credit score is a number ranging between 300 to 900. In general, the higher

The 2017-2018 Canadian tax deadline is just around the corner — which might be a source of stress if you’re worried about CRA collections. CRA collections can lead to severe financial consequences. CRA can pursue someone criminally, but they usually rely on penalties, interest, and collection action — such as wage garnishments — instead. If

If you have been struggling with financial challenges and difficulty managing your debt, you may have already considered debt consolidation options, including Consumer Proposals. Deciding who to turn to when you have a financial problem can be confusing with so many different types of companies purporting to offer financial help. If you are wondering where