Here are some of the key personal tax measures to be aware of for this upcoming tax season. Cancelled: Digital news subscription The 15% federal tax credit for up to $500 of qualifying digital subscriptions for qualified Canadian journalism organizations is no more. The tax credit was available from 2020 through 2024 inclusive. It is…
Want crypto tax reporting made simple? Here’s how to pull it all together without getting overwhelmed. Key takeaways If you traded, sold, or exchanged cryptocurrency, you likely have a tax obligation, even if you didn’t cash out to dollars. If you use multiple wallets and exchanges, you likely have scattered transaction histories, but these should…
By choosing the right business account, you can enjoy things like high interest and avoid paying steep monthly fees, so you get to keep more of your hard-earned money in your pocket when tax time comes knocking. Why tax season hits solopreneurs hardest If you’re a solopreneur, you face unique financial challenges, especially if you…
Tax Saving moves for 2025. As the 2025 tax season approaches, it’s the perfect time to take stock of your finances and find ways to reduce your tax bill. The Big Beautiful Bill introduced many changes to the taxation of individuals and businesses. The impact of these changes on your tax return will depend on…
Tax Bracket in 2026. Understanding your 2026 tax brackets is crucial to managing your finances effectively. For the 2026 tax year, the IRS has adjusted income thresholds and standard deductions to account for inflation and new legislative updates under the One Big Beautiful Bill Act (OBBBA). Whether you’re filing as single, married, or head of…
The Roth IRA contribution limits for 2026 have increased from the previous year. For 2026, the limit is $7,500 per person, with an additional $1,100 catch-up contribution for those aged 50 or older. Roth IRA Income Limits for 2026 Your ability to contribute to a Roth IRA depends on your Modified Adjusted Gross Income (MAGI)…