The prime rate in Canada, as of Jan. 2, 2025, is 5.45%. This was the fifth drop we saw last year. The July 2023 update marked the Bank of Canada’s third and last 25-basis policy interest rate increase last year. These increases were a bid to combat the annual inflation rate, ...
12 Alternatives to Full-Time Retirement Ease into retirement at your own pace and in a way that aligns with your interests. Rachel HartmanDec. 19, 2024 What Do Lower Rates Mean for Retirees? Retirees may need to rethink their investments and income plans as interest rates begin to ...
Understand the IRS 1099 Form: Discover its purpose, who receives it, how to fix mistakes, the different types of 1099 forms, and why e-filing makes managing them easier.
What is the CHIP Reverse Mortgage? The CHIP Reverse Mortgage is Canada’s oldest and most widely-used reverse mortgage. It was HomeEquity Bank’s first reverse mortgage product, known in its early days as the Canadian Home Income Plan. It was rebranded as the CHIP Reverse Mortgage in 2014...
If they’re not managed correctly, they may cause financial instability and hinder growth — that’s why it’s so important to track expenses diligently and understand where your money is going. So, what are considered operating expenses? They typically encompass a wide range of day-to-day ...
This is the 2026 IRS income tax return due day for 2026 Income Tax Returns! If you owe, e-file even if you can't pay! We suggest you don't wait to file in case you have last minute questions. In addition, you will not jeopardize the tax deadline if you owe taxes. In most case...
This number also shifts but is considered the reference point for interest rates on several different types of loans, including mortgages, home equity lines of credit (HELOCs), car loans, and some types of credit cards. As the prime rate changes, so do the rates of interest charged on thes...
OAS provides benefits to eligible citizens who have reached age 65. Complex rules determine the amount of the pension payment but an individual who has lived in Canada for 40 years after turning 18 is typically qualified to receive the full payment as of October through December 2023. The full...
Among the most common objections to providing everyone with an unconditional basic income is the cost objection. It states that the cost of providing everyone with a decent income floor, beneath which no one would fall, is out of reach for governments and public finance. Income taxes would have...
the law taxes these excess returns at 21%, after a 50% deduction and a deduction worth 37.5% of FDII. This excess income, which the law assumes to be derived from intangible assets, is called global intangible low-taxed income (GILTI). Credits can offset up to 80% of GILTI liability....