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xtal posted:TD e-Series mutual funds are perfectly fine. TBH just go to https://canadiancouchpotato.com/model-portfolios/ and copy and paste one of them into your bank. "Perfectly fine" as in nearly 2x the MER, plus you get condescended on to the point you can't choose your own portfolio allocation without going through a questionnaire? Sign me up. 
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Mar 23, 2019 06:21
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Jan posted:"Perfectly fine" as in nearly 2x the MER, plus you get condescended on to the point you can't choose your own portfolio allocation without going through a questionnaire? They don’t do that if you get a direct investing account IIRC, but ETF’s are the way to go regardless, especially with no fee purchases on Questrade.
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Mar 24, 2019 22:12
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My credit union says I'm pre-qualified for a $15k unsecured line of credit at 7.45%. I don't need it nor do I intend to use it, but is there any disadvantage to accepting it and keeping it just in case I get into a situation that exceeds my emergency fund?
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Mar 29, 2019 03:24
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Shofixti posted:My credit union says I'm pre-qualified for a $15k unsecured line of credit at 7.45%. I don't need it nor do I intend to use it, but is there any disadvantage to accepting it and keeping it just in case I get into a situation that exceeds my emergency fund? Check if there is a hard credit check involved. Sometimes there still is one even if it's pre-qualified. If there is one, then there will be a short-term hit to your credit score. If there isn't, or over the long term in general, it's a good idea to accept it and not use it. Your credit score will increase because of more credit available, and a lower credit utilization.
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Mar 29, 2019 03:57
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xtal posted:Check if there is a hard credit check involved. Sometimes there still is one even if it's pre-qualified. If there is one, then there will be a short-term hit to your credit score. If there isn't, or over the long term in general, it's a good idea to accept it and not use it. Your credit score will increase because of more credit available, and a lower credit utilization. Thanks that's pretty much what I was thinking.
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Mar 29, 2019 04:48
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Shofixti posted:My credit union says I'm pre-qualified for a $15k unsecured line of credit at 7.45%. I don't need it nor do I intend to use it, but is there any disadvantage to accepting it and keeping it just in case I get into a situation that exceeds my emergency fund? If you have good self control its a great thing to have as part of your financial flexibility for emergencies. The only downside is the real risk that you will become a regular and delinquent user, which most people end up being with LOCs. If you already have the financial discipline to use credit cards for rewards but never carry a balance/never pay interest, I say go for it.
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Mar 31, 2019 20:14
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Now that the Vancouver RE market is cooling, I may want to buy something in a year or two if things keep moving in the right direction and hit the numbers I think make sense. Is there anywhere/any particular vehicle that it would be smart to park the down payment money in, and keep adding to it continuously. I'd probably be starting with about $20k. I've got much more in the market, but would prefer to just leave it be and build a mostly liquid, separate side pile, only touching the investments if needed for extra cash when buying time comes. So basically putting market investing on hold, and just focusing on this for now. Ideally the down payment side pile should be accessible within a week or two without penalty, and lets me keep adding to it once or twice a month. Not sure if anything like that exists or not, and if I'm just best leaving it in a savings account for fast access. I don't really care about total min/maxing poo poo for a .25 percentage point difference, and don't really have the effort to move things around a lot to deal with those couple month promo deals.
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Apr 4, 2019 02:58
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Sounds like a high interest savings account to me!
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Apr 4, 2019 03:03
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pokeyman posted:Sounds like a high interest savings account to me! I'm not in this industry but assuming a high interest savings account is like 2% why not do a govt bond ETF?
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Apr 4, 2019 03:21
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VelociBacon posted:I'm not in this industry but assuming a high interest savings account is like 2% why not do a govt bond ETF? Most of the big bank HISA's are closer to 1%, looks like best is 2.3%, but I don't want to open a new account. Govt bond ETFs seem like an OK option. Dividends around 2% and the price seems fairly stable. VGV seems to bounce between $24-25. Though with a potentially short horizon of 1 year before cashing out, if you were unlucky and bought at the high end and sold at the low, you'd still be eating a loss even after the dividends. Looks like BMO does a savings acct with 1.6% as long as you stick $200 in a month, up to a max of $250k. One free tfer into it per month. Wife already has a BMO account so think will just add that on to hers and use it to keep things as simple as possible here.
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Apr 4, 2019 18:48
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You know your situation better than I do, but unless opening an account at EQ Bank is an hours-long process for you then it’s probably worth checking out? https://www.highinterestsavings.ca/chart/ if it helps. VelociBacon posted:I'm not in this industry but assuming a high interest savings account is like 2% why not do a govt bond ETF? Savings account is insured?
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Apr 4, 2019 22:22
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Gonna try to file electronically this year, which free program would be best for a windows desktop? Turbotax still king?
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Apr 17, 2019 23:21
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TurboTax was never king and you should not give a penny to Intuit and other software giants that have been spending millions of dollars lobbying the Canadian and US governments to keep taxes complicated. Use SimpleTax. It's great, it's friendly, their support is responsive and they are more worthy of your time and money (should you choose to donate). Before that, I'd been using StudioTax, but boy the UI is something out of the 90s.
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Apr 17, 2019 23:29
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https://simpletax.ca/ It's so loving easy and automatic. I love them so much for making expensive lovely tax software or walk-in tax places pretty much obsolete for the average filer. Usually just give them all or half my return as a donation.
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Apr 17, 2019 23:29
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Sounds great, thanks
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Apr 17, 2019 23:34
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For people filing with a spouse or with capital gains (stupid work share grants which are a pittance but a pain in the rear end to figure out) will simpletax work? This definitely interests me as someone who most years just goes with turbotax.
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Apr 17, 2019 23:51
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Yep.
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Apr 18, 2019 01:28
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E
Rime fucked around with this message at 02:59 on Apr 18, 2019 |
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Apr 18, 2019 02:49
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Assuming the $13k in savings accounts covers at least six months of expenses, yep that sounds about right to me!
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Apr 18, 2019 02:54
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Sweet. Covers 12 months without emergencies, it's cheap to live in a van. 
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Apr 18, 2019 03:00
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Baronjutter posted:https://simpletax.ca/ THIS IS AMAZING e. it was literally 15 minutes to do them, then about 25 looking for the error where my wife's calculations didn't match up to theirs. I am totally impressed with this service. Bilirubin fucked around with this message at 22:43 on Apr 18, 2019 |
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Apr 18, 2019 22:12
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Yeah simpletax is great! And it can be mostly auto-filled which is awesome. I throw them $5 every year 
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Apr 18, 2019 23:26
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I moved to the US last year and one of my great disappointments was finding out that SimpleTax doesn't do emigrant tax declarations at this time. 
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Apr 19, 2019 00:17
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I do half my family's taxes each year and use SimpleTax. It's decent.
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Apr 19, 2019 00:51
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Jan posted:I moved to the US last year and one of my great disappointments was finding out that SimpleTax doesn't do emigrant tax declarations at this time. Genutax got you covered, fam.
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Apr 19, 2019 04:25
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Guest2553 posted:Genutax got you covered, fam. I already used StudioTax, but I might as well try it just to see if the results line up.
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Apr 19, 2019 19:19
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There are some ETFs that I'm interested in buying, but they are only in USD. When investing in ETFs denominated in USD rather than CAD, apart from having to convert any gains/losses to CAD at tax time, are there any special gotchas to be aware of? What if the gains are in a tfsa, are they still tax sheltered? I just want to make sure I'm not getting in over my head here before buying.
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Apr 21, 2019 05:17
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qhat posted:There are some ETFs that I'm interested in buying, but they are only in USD. When investing in ETFs denominated in USD rather than CAD, apart from having to convert any gains/losses to CAD at tax time, are there any special gotchas to be aware of? What if the gains are in a tfsa, are they still tax sheltered? I just want to make sure I'm not getting in over my head here before buying. A good place to start would be to read about currency-hedged funds (benefits and drawbacks). I'll let the more knowledgeable people provide specific answers to what you're asking though.
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Apr 21, 2019 05:45
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Wow, simpletax is fantastic. I like how it's all on one page instead of having to switch between a gazillion pages like in Quicktax.
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Apr 22, 2019 06:17
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I know the Home Trust Visa was mentioned a few pages back - the one without foreign exchange or a yearly fee. They were, predictably, behind on their promise but you can now actually set your own PIN. Also strangely, the automated call service to do so is offered in English and Spanish.
DeadMansSuspenders fucked around with this message at 21:00 on Apr 24, 2019 |
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Apr 24, 2019 20:58
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Just an FYI there is a separate USA and Canada pin change telephone service so make sure the agent gives you the right number.
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Apr 25, 2019 00:33
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hey thanks to whoever recommended me simpletax. did my own taxes for the first time in my life and got some sick free money also i paid for simpletax and it gave me a dark mode 
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Apr 25, 2019 00:49
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Mantle posted:Just an FYI there is a separate USA and Canada pin change telephone service so make sure the agent gives you the right number.
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Apr 25, 2019 00:56
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BoC holding rates steady. Was hoping for a cut seeing as how nothing gets built anymore
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Apr 25, 2019 01:55
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There won't be any rate cuts unless GDP stops growing or shrinks
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Apr 25, 2019 15:33
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Soon
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Apr 25, 2019 17:43
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TurboTax Deliberately Hides Its Free File Page From Search Engines https://www.propublica.org/article/turbotax-deliberately-hides-its-free-file-page-from-search-engines Bilirubin fucked around with this message at 07:26 on Apr 27, 2019 |
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Apr 27, 2019 07:24
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I tried turbotax once as an expat because they were giving away paid versions through some agreement they had with my employer. It worked fine the first year, but after that the version they gave away somehow lost the ability to handle international returns. I learned to do my own taxes after that, but I didn't appreciate turbotax's bait and switch bullshit. It's weird to say out loud, but I appreciate how easy it is to file taxes in Canada. I'm a salaried employee so all it takes is firing up my free software of choice, auto-filling T4s, and typing in some numbers from whoever manages my RRSP. I somehow hosed even that up this year, but it was a literal five minute fix online.
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Apr 27, 2019 14:05
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Agreed. As usual, though, our system only looks ok when compared to the shambling horror next door. It can and should be much easier.
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Apr 27, 2019 15:04
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I can’t seem to figure out how to enter pension buybacks. I entered the info and resubmitted, but express NOA wasn’t adjusted. The buyback form says tax deductible for the year of 2018, buying back the contributions for the year of 2012. Do I need to call the cra? Or just submit the receipt to Sudbury and ignore the express NOA?
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Apr 27, 2019 16:12
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