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How Much Do You Pay in Payroll and Income Taxes? Here’s an Overview of Canada’s Income and Payroll Taxes for 2012, by Province

By Kevin

I’m going to have to pay myself a salary soon, and I’ve been learning a lot about the different taxes that one has to pay, both on the employer and the employee side of the equation! Canada has always been known for having a relatively high level of taxation, but as I’ll soon show you,… [Read More]

Filed Under: Economics, General Reviews, Miscellaneous, Saving Your Money Tagged With: Canada, Employment, Ontario, Payroll, Payroll tax, Quebec, tax, Unemployment benefits

Things You Need to Know Before Becoming a Freelancer: How Much Do You Need To Earn?

By Kevin

What is your opportunity cost? In my last post in this series, I talked about becoming a freelancer, and some of the things we have to consider. Why would someone become a freelancer? Is it feasible for someone of average means? How much money do you need to survive? Another important point to consider is… [Read More]

Filed Under: Growing Your Wealth, Miscellaneous, Motivation, Opinion Tagged With: Adjusted gross income, Canada, entrepreneurship, freelancing, Gross income, Income tax, tax, Taxable income

Things You Need to Know Before Becoming a Freelancer: Preparing Yourself

By Kevin

Why would you want to become a freelancer? I recently read the post “Why You Can’t Freelance Or Blog Full-Time“, by Sandy of Yes, I Am Cheap. She had recently quit her job and was considering blogging full-time, but ultimately decided against it. Amongst some of her reasons was the high levels of tax that… [Read More]

Filed Under: Growing Your Wealth, Miscellaneous, Motivation Tagged With: Blog, Employment, Freelancer, Full-time, jobs, tax, Taxation

Weekend Reading: H&R Block Canada Review and Giveaway Edition

By Kevin

Happy weekend, everyone! Still haven’t done your taxes yet? No sweat; this roundup also includes a giveaway of five licenses for H&R Block’s tax filing software, for use online for both Mac & PC, or as a download for your PC desktop! See below for details. Pros Online access for Mac and Windows, and a downloadable… [Read More]

Filed Under: Miscellaneous, Weekend Reading Tagged With: Canada, Investment, personal finance, Registered Retirement Savings Plan, RRSP, tax, Tax-Free Savings Account

Three Things My Tax Return Says About Me

By Kevin

What can you learn from a person by reading their tax return? What secrets do they have? What can you learn about their lives… and what have they been leaving off of the return? As part of this month’s coffee talk, I’m going to give you some insight into the three things my 2010 says… [Read More]

Filed Under: Miscellaneous, Stories Tagged With: Canada, Canada Revenue Agency, Fiscal year, Internal Revenue Service, tax, Tax refund, tax returns

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About Invest It Wisely

Invest It Wisely is about evaluating the choices that each of us face everyday. It’s about investing your time, your money, and your energy wisely, in order to achieve your goals. The end goal is maximizing your life expectation, and exploring the ways to get there.

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