There are very few luxuries that I have a hard time giving up- my Starbucks Canada App is one of them. Not only does it make is easy for me to track all my points (I’m a Gold Card member after all), but I don’t have to carry my wallet, or change when I step into any Starbucks location. I’m not saying that having change with you is a hard chore, but having the option to just walk into a coffee shop with just your smartphone is pretty awesome.

This is where this post gets even better! PayPal is now making it easier for you to pay your bills at 50 locations with your PayPal mobile app. Canadians crave convenience when it comes to settling the bill. In fact, a survey* conducted by PayPal revealed that almost nine in ten (87%) Canadians wished they could be wallet-free. In a first for Canada, Torontonians can now leave their wallet at home and pay with the PayPal mobile app**at more than 50 of the city’s most popular cafés, restaurants and food trucks. Diners get notified of exclusive offers and can tip easily with the PayPal mobile app.

Check in to pay Snakes & Lagers

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Do you have what it takes for a successful finance career? The applicant pool is unfortunately large while the job pool is often small. That doesn’t mean you can’t find happiness in the career of your dreams, however.  The following four jobs aren’t glamorous, but they all function as stepping-stones that just might propel you to the next level of your finance career.

Finance-Careers

Volunteer Work

Volunteer work is a great way to get a leg up against the competition in any field. Job seekers can post their volunteer credentials on LinkedIn in the Volunteer Marketplace section. By publicizing your volunteer work history, you showcase a set of skills and personality traits that just might sway a potential employer.  A manager forced to choose between two job candidates — one with volunteer experience and one without — often gravitates toward the person with the seemingly richer personality and work history.

Even if you’ve volunteered in a field unrelated to your career path, be sure to include this information on your résumé and LinkedIn profile. Job candidates who show ambition and drive both inside and outside the workplace are more likely to pique the interest of potential employers.
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Most of us don’t really think of accumulating investment properties. It’s just not something that we’re programmed to do, but it is an area that more GEN Y should start taking seriously. Don’t get me wrong it’s not to be taken lightly, but real estate offers common benefits and challenges to investors.

In terms of buy and hold properties, benefits may include:

  • Passive Income: Monthly income to pay the mortgage and more.
  • Capital Appreciation: Rising home values for potential sale in the future. Equity can be leveraged for additional investments.
  • Tax Benefits: Interest expense and other items might be deducted when filing taxes.

However, there are several barriers to entry, which include:

  • Financing: Small investors may have trouble qualifying for a second mortgage.
  • Liquidity: Renovations and closing costs require cash reserves. Cash buyers have an advantage of those needing financing.
  • Market Savvy: Negotiating skills, knowing local trends and real estate analysis may take time to acquire.

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Let’s do your taxes ( A Giveaway)

by Marissa on March 19, 2014 · 7 comments

Ah, taxes! It’s one thing to  pack all of our receipts and T4’s and head to an accountant, and completely other thing if you tackle doing them yourself. Perhaps it’s the personal finance nerd in me, but I find doing taxes exciting!

Don’t get me wrong, doing your taxes can be a very scary thing, especially if it’s your first time filling them yourself. Most of that fear is most likely rooted in not understanding tax laws. I get it, the code is can make anyone’s head spin, but trust me – it’s a lot less complicated than you think. I’ve been doing my taxes since I was 18, (ok, I went to an accountant twice over the years, but mostly to have them look it over and make sure that I wasn’t missing anything), and I have 3 businesses, rental properties, a freelance income, and investments – imagine how much easier it would be without that stuff.

Taxes

 

Getting Started

The most important thing before you prepare your tax return is to make sure that no one is claiming you as dependent on their taxes. More often than not, accountants tell parents to put students on their taxes so parents can get a bigger deduction. You can’t file your own taxes if they have you listed on their returns.

 

Taking the First Step

The last day that employers had to send out T4 slips was Feb 28th, which means that everyone should have theirs already.

There are 2 ways to doing your taxes: manually by hand  or using tax software like UFile. I personally like using tax software as it helps me remember all the things that I can claim, or need to claim for any given year. This could range from a side project fees, to deductions for medical expenses, and travel related to work. Software programs like UFile do all of the math for you so you don’t actually have to bust out the calculator; and they walk you through step-by-step so that you don’t miss anything. The best part is that they help find deductions that you didn’t even know existed. UFile, is also NETFILE certified, which means that you can file directly from the software without having to print or mail anything.

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