Tax discussions continue in the media with both sides of the argument claiming the other is misleading the public (on the usage of incorporation for individuals, to be specific). The tax change will not change my life, except that most of my doctors are threatening to move to the USA if it happens, but I am curious. If the law is passed, what smart accountant will find the “wrinkle” in the tax laws to allow for money sheltering? As usual I don’t feel I know enough to say if either side is “pleine de merde” or not.
Masterful Understatement
Given all the hurricanes lately in the states, are you aware that hurricane insurance and flood insurance are two different things? I didn’t realize that, and I don’t think I need hurricane insurance in Ottawa, but do I need flood insurance? Wonder if I need thermo-nuclear attack insurance, given North Korea’s continued sabre rattling? Is that covered under some other policy?
I took my first Uber this week, didn’t seem that cheap to me, but it was during the work day, and I was going to an out-of-the-way place, but so far the hype of this outstrips my experience. Driver seemed like a nice guy, payment using my phone seemed OK too, but seemed like a Taxi to me.
The Canadian Financial Summit happened on-line and you can have a look at the talks. Some are quite interesting, oh and here is my tip (I offered to do this as a presentation):
Recent Writings
I keep hearing from co-workers about how banks are forcing them to open bank accounts with them, if they have a loan with the bank, and that is where Bank Accounts and Loans came from. The Banks have the right to ask this of their customers, but their potential customers also can decline.
Micro Blogging on Finance
Boomer and Echo came up with a very powerful tweet, which I liked a great deal.
Know anyone who's been cashstrated? 🤔 pic.twitter.com/AbmlnuTYzW
— Boomer and Echo (@BoomerandEcho) September 10, 2017
Welcome the Summer of 2017 ☀️
The summer of 2017 seems to have returned to Ottawa, with sunshine and hot temperatures, which confuses the heck out of most folks.
- An actual accountant is back from Vacation and eager to help you understand the Tax Rules being debated, so the Blunt Bean Counter gives us: Tax Planning Using Private Corporations – A Philosophical and Critical Review . If you want to understand this, you should read this.
- Glad to hear that Equifax is being investigated by the FTC (did someone say Enron), but Wired also points out that Equifax has no excuse about their shoddy security on-line. If you had systems with Admin userids with the password Admin, you deserve to get slapped.
- Still reeling from the Rate Hikes? Really? Man you are in deep trouble, but Kerry from Squawkfox wants to help with 6 Ways an interest rate hike affects your finances . One of the main ways is you owe more for the debt you got that you couldn’t afford in the first place (maybe that is a bit negative, but it is still true). I have a list of 7 reasons why I hate enumerated lists, but I’ll save that for later.
- The Phoenix Pay System for the Federal Government employees is now attempting to lure back retirees to work on the flawed system. Sounds like a good gig, except you’d have to figure out how to make the system pay you (cheap shot). What is even funnier is I tried to link to the Phoenix Pay System News Issue web page in the government, but it seems to be down?
- Michael James continues to stick his oar in on the whole Tax Changes issue with What’s Your Income? A better question is, what is a middle-class income these days? I have no idea, myself. Will you make a lot of money in a short period and then make little later? How can you make the tax system work for you then?
Doug H. In Media
Our amigo Doug Hoyes is out stumping for his book. Here he is on Global TV.
How Not To Land a Rocket
Suppose you become independently wealthy and decide you want to use your money to start sending rockets into space, Elon Musk compiled this helpful video to show you how not to do it. He is following my same model, hoping you will learn from his mistakes.
This Quarter Random Thoughts
- Rates Up Trend, Summer Holidays, High Gas and #Moneytalk (September 8th)
- Farewell PC Financial, Summer Holidays, Bat Guano and #MoneyTalk (August 18th)
- Paying Children to Move out, Sears, and #MoneyTalk (July 28th)
- Rate Reactions, Mortgage Double Ups, Bad Cycling and #MoneyTalk (July 21st)
- Keep Calm and Pay Off Your Debt and #MoneyTalk (July 14th)
2nd Quarter Random Thoughts
- #Canada150, B of C Rates, and #MoneyTalk (June 30th)
- Donuts, Graduations, Summertime and #MoneyTalk #Canada150 (June 23rd)
- Bank Profits, Loose Money, Used House Salesfolk and #MoneyTalk (May 26th)
- Avocado Toast, Victoria Day, Ransomware and #Moneytalk (May 19th)
- RDSP, DTCs, Mother’s Day and #MoneyTalk (May 12th)
- Thanks Prince Phil, More Old Than Young and #MoneyTalk (May 5th)
- MLM, Balanced Budgets, and #Moneytalk (April 28th)
- Overheated Housing Market, Rent Controls and #MoneyTalk (April 21st)
- Ladies on Panels, Good Friday, Friendly Skies, Loose Money and #MoneyTalk (April 14th)
- Tax Time, Housing Bubbles, Financial Easter and #MoneyTalk (April 7th)
1st Quarter 2017 Random Thoughts
- April Fools, High on Life and #MoneyTalk (March 31st)
- Ho Hum Budget, Brackets Busted and #MoneyTalk (March 24th)
- Naughty Banks, March Madness, Big Snow and #MoneyTalk (March 17th)
- Teller Upselling, Auto-filling Taxes, Spring Forward and #MoneyTalk, (March 10th )
- Lent Begins, Loose Money and #MoneyTalk (March 3rd )
- RRSP Season, Tax Time, and #MoneyTalk (February 24th )
- Farewell Vinyl Café, Snow, Monopoly and #MoneyTalk (February 17th )
- RRSP , Tax , TFSA , RESP, and RDSP Time and #MoneyTalk (February 10th )
- Year of the Fire Rooster, Financial Groundhog Day and #MoneyTalk (February 3rd )
- Alternate Financial Facts, 1984 and #Moneytalk (January 27th)
- Bungled Mortgages, Friday the 13th and #Moneytalk (January 13th)
- Merry New Year, CPP, EI and #MoneyTalk (January 6th)
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