Financial Pipeline Article: Common and Uncommon Tax Deductions

IMAGE FROM FINANCIAL PIPELINE: ARTICLE WRITTEN BY GILLIAN LIVINGSTON

It is tax time. The Financial Pipeline interviewed me with other financial experts on the best common and uncommon tax deductions, so you can get the best refund possible. 

In the article you’ll learn about many of the most effective deductions you can claim, so after you file your taxes you’ll feel confident that you did them well!

Here’s what the article covers:

  • Why you need to file your taxes every year once you turn 18 or move to Canada.
  • How to claim a deduction for interest and management of your portfolio.
  • The two times you can claim moving expenses.
  • Why the Covid rules for home office expenses are out, and what to claim instead.
  • Why you should be careful with large donations.
  • How to claim a capital loss if your stock is bankrupt & no longer trades.
  • And more!

CLICK THE LINK BELOW TO READ THE ARTICLE BY GILLIAN LIVINGSTON:

Common and uncommon tax deductions

Enjoy!

Ed

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EdSelect

Ed Rempel has helped thousands of Canadians become financially secure. He is a fee-for-service financial planner, tax  accountant, expert in many tax & investment strategies, and a popular and passionate blogger.

Ed has a unique understanding of how to be successful financially based on extensive real-life experience, having written nearly 1,000 comprehensive personal financial plans.

The “Planning with Ed” experience is about your life, not just money. Your Financial Plan is the GPS for your life.

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1 Comment

  1. Victoria Minich on July 10, 2024 at 6:09 PM

    Name

    Vicky Minich

    Email

    qvminich@shaw.ca

    Phone

    +14038081142

    Type

    Feedback about my blog

    Comment or Message
    Hi Ed,
    You mention that a stock that has gone belly up can still be declared as a loss. When they reached -100% Qtrade mentioned I can leave them there until they are de-listed or deed them as a gift which is what I did. Oh how I wish I had come across your information earlier. My question then, if I may, is where on my Canadian taxes specifically do I enter this loss? Thank you and love your blogs.
    Vicky



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