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5 Signs That It’s Time To Look Into Debt Solutions

Posted by on Jun 24, 2014 in Blog, Finance & Money | 0 comments

Whether you’re interested in working with a debt consolidation company or a bankruptcy lawyer, you might be looking for some relief if you’re in a bad financial situation. Although a lot of people put off seeking help, these five signs can show you that now is the time to look for debt solutions. 1. Your Bills Are Higher Than Your Monthly Income If your monthly bills add up to more than you make, you’re in big trouble. Although you might be able to juggle your bills for a little while, doing so will eventually catch up with...

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A First-Timer’s Guide To Refinancing

Posted by on Jun 6, 2014 in Blog, Finance & Money | 0 comments

If you are a first-time homeowner who is currently paying on a mortgage, you might believe that if your family gets in a bind for cash that you can refinance. It’s a beautiful notion, but it doesn’t always work. Before you sit down with a mortgage broker, check out this guide so that you will know ahead of time whether refinancing is an option. What Refinancing Means Refinancing is replacing an old loan with a new one. These new loans can start over at the amount you originally purchased your home for, or you can refinance your...

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Do You Need Comprehensive & Collision Coverage?

Posted by on Jun 4, 2014 in Blog, Finance & Money | 0 comments

While surely nobody enjoys paying for auto insurance coverage, it’s something that all drivers in Canada are required to have by law. In general, there are several different components that can make up a car insurance policy. These include: bodily injury coverage property damage protection under-insured/uninsured motorist protection comprehensive coverage collision coverage While all Canadian drivers are required to carry at least minimum bodily injury and property damage protection, under-insured motorist protection, comprehensive...

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Reasons To Hire A Professional CPA When It’s Time To Pay The Tax Man

Posted by on Jun 2, 2014 in Blog, Finance & Money | 0 comments

It’s often said that there are two certainties in life: everyone will die someday and everyone must pay their taxes. If you’re dreading filling out your tax forms this year, you’re not alone. Plenty of people turn to certified professional accountants every year for tax assistance. But there are other good reasons to consider getting tax help from a CPA besides just avoiding the paperwork. Find Every Loophole Reading through official tax code is about as exciting as watching paint dry. Thankfully, professional CPAs like...

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Declaring Bankruptcy In Canada

Posted by on Jun 1, 2014 in Blog, Finance & Money | 0 comments

Economic hardship is a very common problem in today’s world. Since the early 2000s, many people have experienced job loss, foreclosure of their homes, and a number of other financial strains that have put them in a position to file bankruptcy. Financial challenges have hit every corner of the globe, and Canada is no exception. Reasons for Bankruptcy Each year 100,000 Canadians file for bankruptcy and there are three primary reasons for declaring bankruptcy in Canada: Divorce. When a couple divorces and the family is forced to live in...

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The Cheapest Vehicles To Insure

Posted by on May 30, 2014 in Blog, Finance & Money | 0 comments

While you would never choose to purchase a car based only on its insurance cost, that particular factor might be more important than others when you are narrowing down your choices. Certain categories of cars are cheaper to insure than others, and certain brands are more reasonable than others within the category. So it makes sense to understand these differences if you’re in the new-car market. Cheapest Category to Insure Small SUVs and minivans are the least expensive category of vehicles when it comes to insurance rates. This is...

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Ways To Manage Your Company’s Financial Records

Posted by on May 29, 2014 in Blog, Finance & Money | 0 comments

Owning a business comes with different types of financial decisions. You need to make sure that you keep your records organized and properly monitored to make them efficient. Learning different ways to simplify these records can help you identify key areas that need immediate attention. Hire a Certified Bookkeeper Unless you have a degree in bookkeeping or accounting, you need someone to monitor your financial records. A bookkeeper is one option, because they are goal orientated and they can handle the daily tasks of inputting and monitoring...

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Should You File For Bankruptcy Or Submit A Consumer Proposal?

Posted by on May 27, 2014 in Blog, Finance & Money | 0 comments

If you’re struggling financially and finding it difficult to meet your obligations, you might be wondering if you should file for bankruptcy. In Canada, you should immediately consult a bankruptcy trustee, who is licensed by the federal government to provide advice and service to people who need it. The trustee can help you figure out which path you should take. Filing a Consumer Proposal A consumer proposal is a formal document that the trustee and the debtor write together, which allows you to eliminate your debts and keep most of...

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Issues To Consider When Establishing Payroll Costs And Employee Compensation

Posted by on May 24, 2014 in Blog, Finance & Money | 0 comments

As a small-business owner, you have to work hard to pay your employees the right salary. If you pay too little, you will struggle to attract good employees, but if you pay too much, you won’t have enough money to run your company. When trying to set your payroll, here are some points you should consider: Percentage of Revenue If you devote a consistent percentage of your revenue to payroll, you can rest assured that your payroll won’t overtake your operating costs. The most successful businesses have payrolls that cost roughly 15...

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7 Things You Are Allowed To Keep When Declaring Bankruptcy

Posted by on May 23, 2014 in Blog, Finance & Money | 0 comments

Not all assets are dissolved during a bankruptcy. In fact, there are quite a few items that you’re allowed to keep, as long as they don’t add up to a significant amount of equity; if the items that you want to keep add up to less than a few thousand dollars, you’ll usually be able to keep them. 1. Your Home or Home Equity It may be surprising to learn that you can often keep the equity you’ve built in your home during a bankruptcy. Under certain situations, which can be discussed with a bankruptcy attorney, you may be...

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