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Managing your finances during these uncertain times
There are plenty of Canadian's having issues with their budget this month, as we all deal with this nearly unprecedented situation. This can be a stressful time, both emotionally and financially, as it wears on a person when they aren't sure how they can make their...
Dealing with COVID-19
Well, it's impossible to not talk about this topic right now, isn't it? Here at FreshStart BC we are dealing with COVID-19 by making sure to wipe down all surfaces with disinfectant after any visitors have left, as well as washing our hands frequently. We've also...
How does a consumer proposal get accepted? Voting in a consumer proposal
Life can be unpredictable, and we can all end up in a spot we never planned on being. If you have found yourself struggling financially, and are unable to get out of the cycle of debt, you may be interested in filing a consumer proposal. A consumer proposal is a...
RRSP and TFSA – What’s What?
This is a popular time of year for comparing a RRSP (Registered Retirement Savings Plan) and a TFSA (Tax Free Savings Account), so we are diving right into it! Many people wonder whether they are better off investing through a RRSP, a TFSA, or both, and our post will...
Canada Revenue Important dates for the 2020 tax year
We may have just celebrated the new year, but that doesn't mean it is too early to start worrying about our income taxes. Our income taxes are something that most Canadians don't necessarily look forward to, but with the knowledge of what tax deadlines you...
Why bother budgeting?
We all know that paying off debt can be a slog, particularly when the debt involved is a large sum or has a large interest rate. These are the kind of debts that a person making the minimum payments will have a hard time ever conquering. Making this minimum payment will keep the creditors off your back, but it’s not going to get you moving ahead either. This is why we want to budget, so we can tackle our debts and keep moving forward.
Income Tax – How does it work in a Personal Bankruptcy?
We all have to do our taxes. It’s something we do every year, and some of us enjoy this experience more than others. How does income tax work in a bankruptcy though? If you file an assignment into bankruptcy, you will notice there is a slightly different way that taxes must be filed than you would usually.
Happy Halloween from FreshStartBC!
Happy Halloween from all of us at Doug Lee & Associates (FreshStartBC)! Our decorations may be spooky, but your financial picture should not be. If you are struggling financially, and looking for a fresh start, come see us for a free consultation. A simple 45...
Surplus Income – What is it and how is it calculated?
When you make an assignment into bankruptcy, you are required to make a surplus income payment. This is a contribution to your estate each month based on your monthly net take home income. Somewhat of a confusing term, as surplus income is based on your net take home pay on a monthly basis and not based on what available funds you may have left after you pay your monthly bills.