Search found 1402 matches
- 25 Mar 2024 16:06
- Forum: Retirement, Pensions and Peace of Mind
- Topic: RRSP - how much can I contribute right now?
- Replies: 4
- Views: 181
Re: RRSP - how much can I contribute right now?
If I were you, I'd leave a significant buffer of safety and then top it up to the max once you get your notice of assessment.
- 21 Mar 2024 15:10
- Forum: Taxing Situations
- Topic: Final tax return
- Replies: 3
- Views: 228
Final tax return
My mom passed away at the end of September last year. I have started getting tax documents from TD for her investments, and they cover the entire year of 2023, not just up until the date of her death. My understanding is that when she died, her estate came into existence and it is a separate entity from her. I created a trust (GRE) for the estate recently. Do you pro-rate the T3/T5 documents from the investment co by the proportion of the year that she was alive, and assign part of it to her final tax return and the other part to the estate's T3 return? Or is there some other way to manage this? Or does it all go into her final tax return? Or something else I haven't thought of? I also understand that I have a year from the date of her deat...
- 21 Mar 2024 14:00
- Forum: Community Centre
- Topic: Printers
- Replies: 21
- Views: 488
Re: Printers
I'm a big fan of Brother laser printers. They just keep working. If she just wants a printer, Staples has a small Brother laser for $200.
https://www.staples.ca/products/2764645 ... er-printer
I personally would get an all-in-one as it provides scanning as well, which is frequently useful. This one is similar to mine which I love (I have an older model):
https://www.staples.ca/products/2764643 ... er-printer
https://www.staples.ca/products/2764645 ... er-printer
I personally would get an all-in-one as it provides scanning as well, which is frequently useful. This one is similar to mine which I love (I have an older model):
https://www.staples.ca/products/2764643 ... er-printer
- 20 Mar 2024 13:37
- Forum: Taxing Situations
- Topic: Capital Cost Allowance categories -- printer, external HDs, hub?
- Replies: 9
- Views: 371
Re: Capital Cost Allowance categories -- printer, external HDs, hub?
I don't know about TurboTax but there is a spot to put the percent used by business - here are the input fields on WealthSimple Tax:
- 08 Feb 2024 16:46
- Forum: Taxing Situations
- Topic: Major tax mistakes. Could use some general advice.
- Replies: 31
- Views: 1938
Re: Major tax mistakes. Could use some general advice.
AltaRed raises a good point about the historical values. As a worst-case scenario you could pick the lowest value the stock traded at that year as your ACB - it couldn't have been lower than that! Or if you remember the month of transaction, you could do it at a more granular level.
- 08 Feb 2024 16:20
- Forum: Taxing Situations
- Topic: Major tax mistakes. Could use some general advice.
- Replies: 31
- Views: 1938
Re: Major tax mistakes. Could use some general advice.
I know that TD didn't fill in box 20 on the T5008 until just a few years ago so I would expect it to be empty on your forms for 2015. I looked at a T5008 I have from 2017 and all the box 20's were blank on it. It's unfortunate that the bank doesn't have any information. I don't think they submit the summary document to the CRA - I believe that's only for the bank customer to use to make filling out their tax forms easier. So I don't think you will receive it from CRA. Hopefully when you're talking about "a few trades" you're not talking about large dollar amounts. If they are smallish amounts, the worst case scenario is that you need to declare the ACB as zero, and take the entire proceeds as a capital gain. Did you maybe keep sta...
- 08 Feb 2024 16:05
- Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
- Topic: How to value a rental Apartment
- Replies: 8
- Views: 639
Re: How to value a rental Apartment
I think you need to think about it based on the higher value. If you sold that apartment today and got 400k for it, then you could invest that 400k into a GIC and get the GIC level returns.
If the loan is fully paid off and you are making less than 5% profit per year on it, and you actually could get 400k for it, then personally I would consider selling it and moving to something that takes less work to manage.
If the loan is fully paid off and you are making less than 5% profit per year on it, and you actually could get 400k for it, then personally I would consider selling it and moving to something that takes less work to manage.
- 08 Feb 2024 15:16
- Forum: Under the Mattress: Protecting Your Money
- Topic: Best Way to Send Money to the US
- Replies: 34
- Views: 1974
Re: Best Way to Send Money to the US
I recently discovered that I can send money from my EQ Bank USD account to my Wise USD account without fees. The way to do it is use the "international transfer" feature and select ACH. It says there will be a fee, but once it goes through, there is no fee. I'm pretty excited about this as it gives me a way to spend USD without any FX fees, and I can get rid of my TD USD account which charges me $1.49 every time I want to do a withdrawal.
- 11 Jan 2024 10:11
- Forum: Taxing Situations
- Topic: TSFA contribution in kind?
- Replies: 20
- Views: 1032
Re: TSFA contribution in kind?
I just contributed 140 shares of ENB the other day, it came to $6901 or thereabouts. I will contribute the remaining 10-ish bucks in cash.formerpatriot wrote: ↑10 Jan 2024 13:57 I am obsessed with contributing exactly 7k (or whatever the annual new contribution room is), not a penny less, not a penny more.
If I were to do an in-kind contribution, how would I contribute exactly 7k?
As to why, a) no risk of losing on the bid/ask spread and possible price fluctuations of the stock, and b) saves the effort of doing the buys and sells.
- 30 Dec 2023 16:03
- Forum: Community Centre
- Topic: Home internet providers - 2024
- Replies: 20
- Views: 1815
Re: Home internet providers - 2024
I switched to Oxio on Bylo's recommendation and have been happy with them. I pay $49 plus tax for 120mbps service. Referral code: RV9TEJD gets you (and me) a free month.
- 22 Dec 2023 17:09
- Forum: Financial Planning and Building Portfolios
- Topic: RRSP Providers
- Replies: 16
- Views: 1180
Re: RRSP Providers
If the company is large enough, I guess they can negotiate for lower MERs/fees. I used to work for P&G and we used Sun Life as our provider for group RRSPs and DC pensions. Index funds were about 0.5% MER in my recollection. I quit about 9 years ago so my memory is fuzzy.
- 20 Dec 2023 15:20
- Forum: Community Centre
- Topic: Covid 19 - Vaccine shots
- Replies: 66
- Views: 4577
Re: Covid 19 - Vaccine shots
My husband and I got the latest booster on Nov 9. On Nov 26 we boarded a cruise, where I caught covid on or before Dec 2. Husband spent 2 nights sleeping in the same room with me and we drove home from the airport together unmasked (I masked in all public areas as did he, once I had gotten sick). He did not catch it. I can only presume the booster did its magic on him. I wasn't so lucky, got a full blown fever/bedridden case. It's now 2.5 weeks later and I still have residual congestion and lung congestion. Fun times.
- 16 Dec 2023 15:14
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Bank of Montreal (Symbol-BMO)
- Replies: 455
- Views: 102157
Re: Bank of Montreal (Symbol-BMO)
Did you not hear about the pandemic RV boom? They sold like hotcakes. I would not be surprised if a lot of new loans originated in the past few years.
- 13 Dec 2023 14:29
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Passive income
- Replies: 71
- Views: 3620
Re: Passive income
Past 12 months yield on VRIF is 4.46%. It will reset to a new level in January (not sure if higher or lower). This could be a good fit.
- 16 Nov 2023 15:30
- Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
- Topic: How much house would YOU buy in my shoes?
- Replies: 28
- Views: 3549
Re: How much house would YOU buy in my shoes?
Congratulations! Sounds like a great decision.
- 14 Nov 2023 15:07
- Forum: Community Centre
- Topic: Covid 19 - Vaccine shots
- Replies: 66
- Views: 4577
Re: Covid 19 - Vaccine shots
According to the PC Health app, the Fortinos in Woodbridge has plenty of appointments, as does the Bass Pro Mills Shoppers Drug Mart. I could go on, but I don't know where you live (I just put in Vaughan in the app as my location).
- 02 Nov 2023 20:25
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Any questions about CPP?
- Replies: 518
- Views: 88155
Re: Any questions about CPP?
Thanks!Dogger1953 wrote: ↑30 Oct 2023 01:45As long as your mother wasn't living with someone else in a valid C/L relationship at the time of her death, than your father should be eligible for a CPP survivor's pension, but he is not entitled to a return of his former earnings.
- 29 Oct 2023 11:31
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Any questions about CPP?
- Replies: 518
- Views: 88155
Re: Any questions about CPP?
It was legal, documented, and signed.
- 28 Oct 2023 14:58
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Any questions about CPP?
- Replies: 518
- Views: 88155
Re: Any questions about CPP?
On a related note, my parents were separated for over 10 years but never divorced. My mom died. Is my dad entitled to any survivor benefits, or to get "his half" of the CPP back?
- 21 Oct 2023 09:12
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: TD Direct Investing (was Waterhouse) Service
- Replies: 3927
- Views: 433387
Re: TD Direct Investing (was Waterhouse) Service
For TD Authenticate, do you have it set up as an authentication method? If so, then when you try to log in there's a button that says "Use TD Authenticate" or something like that - you click that button and then it prompts you to enter the code. You can't enter the TD Authenticate code if it's expecting a text message code.BRIAN5000 wrote: ↑20 Oct 2023 17:33 So if you’re away from home and want to log into TDDI to make a trade how do do it?
2FI try’s to sends text that doesn’t cone. So there is the TD authenticate App that gives you a code but won’t accept it.
Is their a TDDI log-in page that takes you straight to the App to put in the code it generates or something similar.
- 14 Oct 2023 16:27
- Forum: Financial Planning and Building Portfolios
- Topic: Currently low income with a maxed TFSA; RRSP or non-registered next?
- Replies: 13
- Views: 1342
Re: Currently low income with a maxed TFSA; RRSP or non-registered next?
If your income will be higher than you anticipate it to be in retirement sometime in the next few years, you could contribute to the RRSP now but only claim the deduction once your income is higher. Just be careful when doing your taxes because often the tax software will default to using your entire contribution in the year it's contributed - but this is not mandatory. You can carry it forward as long as you like, and the profits will not be taxed until you withdraw.
- 14 Oct 2023 10:51
- Forum: Under the Mattress: Protecting Your Money
- Topic: Cash bonus for opening/transferring investment accounts
- Replies: 5
- Views: 910
Re: Cash bonus for opening/transferring investment accounts
If you transfer in kind this shouldn't be an issue, right?HardWorker wrote: ↑14 Oct 2023 10:49I wonder about this as well. Even $5,000 to switch might end up costly if your entire portfolio is in transit and you miss a big market upswing, even for a day.AltaRed wrote: ↑13 Oct 2023 13:03 They are not of much value to switch unless one is 'done' with their existing brokerage and is looking for a change anyway. Think about BMOIL's $2k promotion for a minute. $2k for $1M is effectively a 0.2% uplift in account value. That is maybe worth 10 minutes of equity market change on a typical day.
- 09 Oct 2023 14:26
- Forum: Financial News, Policy and Economics
- Topic: Recommended financial podcasts
- Replies: 60
- Views: 33916
Re: Recommended financial podcasts
So I tried one episode of "I Will Teach You To Be Rich". I picked episode 8 " My wife is spending too much money ". Let's not go into why I selected that specific episode. :shock: Good topic, reasonable advice overall, but unfortunately, sometimes Ramit sounds like he's got something to sell. His website has sentences like "Unlock your richest life with a personalized system that’s clear and easy to follow". Digging a bit more shows that he sells a range of courses, for example "Mental Mastery" for "12 Monthly Payments of $29". Add the word 'easy' to the last quote and you're into late night infomercial territory ("this piece of junk could be yours right now for 3 easy payments of $29....
- 07 Oct 2023 14:50
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Power of Attorney and TFSA
- Replies: 6
- Views: 1158
Re: Power of Attorney and TFSA
With TD Wealth, I was able to open a TFSA for my mother as POA. The beneficiary had to be "estate", which makes total sense to me. My mom did not have to be involved (good thing, too, as she had full-fledged dementia by then).
- 07 Oct 2023 14:35
- Forum: Financial News, Policy and Economics
- Topic: Recommended financial podcasts
- Replies: 60
- Views: 33916
Re: Recommended financial podcasts
Thanks for the suggestions everybody. I've added Retire with style (which I used to enjoy, but they are puting out too much content too quickly), and changed Rational Reminder to the index section. I will explore the other suggestions soon. But what I'm looking looking for (for the finiki article) is quality personal finance podcasts that don't focus mainly on investing. Topics like budgeting, credit cards, saving for a downpayment, insurance, education finances, ... There is presumably a lot of advice out there, but can we recommend some good podcasts from people we trust? There is "I Will Teach You To Be Rich" by Ramit Sethi. The format is he has guests on who are requesting his help with their finances. It's kind of like liste...