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Taxes: Local Taxation in Canada

Most taxes in Canada are paid at the federal and provincial level, but local governments need revenue too – for snow removal, garbage collection, fire departments and police departments, and so forth. So taxation also exists at the municipal level, as homeowners know all too well, because it comes mainly in the form of property taxes. Municipal…
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Taxes: Provincial Taxation in Canada

We’ve already looked at taxes in Canada at the federal level – let’s take a look at the provincial level. Although many processes and rates are uniform, there is still some variation among the provinces and territories in Canada. The CRA (Canadian Revenue Agency) collects taxes for the federal government, and also is the agent who collects taxes…
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Taxes: Federal Taxation in Canada

Taxes taxes taxes. They are always an important topic, but especially in Canada, who has a reputation for having one of the highest tax rates in the world. But how much do Canadians really pay in taxes? First, let’s take a look at the federal level. Taxation in Canada happens at three levels – federal, provincial, and local/municipal. The…
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Taxes: Local Taxation in the United States

In general, there are three ways to think about taxes and how they work. First, there is the progressive tax approach: a tax that takes a larger percentage of income from high-income groups than from low-income groups. Secondly, there is the proportional tax approach: a tax that takes the same percentage of income from all income groups. Third,…
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Taxes: Federal Taxation in the United States

They say that there is nothing in this world that is certain, except death and taxes. But there's quite a lot about taxes that is uncertain, and quite a lot that varies from local to national, and from country to country. With so many politicians campaigning on promises of less taxation or more, it's important to know how we're being taxed, how…
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Taxes: State Taxation in the United States

With the unveiling of President Trump's new tax plan, federal taxes are in the news. Most of us are more familiar with what happens to our taxes at the national level – but what is going on with our state taxes? Nearly one third of tax revenue goes to to the state governments.  As taxpayers, we should know how this money is collected. Some of…
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Avoid Debts

At 30 years old, you are expected to have graduated from college or university and pursuing a career. You are probably striving to climb the corporate ladder or you are doing your own thing – building your own company and forging your way to becoming a millionaire. At this age, it is not uncommon to see a lot of young people fall into major…
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Credit Card Debt Enslavement

Earlier this month the Federal Reserve have released some data explaining that Americans owe about more than $1 trillion credit cards debt which is up of 6.2 percent from only one year ago. It has been stated in some media headline that the rising interest rates are responsible for such a huge amounts of debt. Which is the ultimate way for signing…
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