Friday, April 15, 2011

Short Takes: The Bender Solution, Best Canadian Financial Products, and more

I’ll be taking a brief break from blogging of likely a week or so. Until I’m back at it, enjoy the following interesting articles from other sources.

Man Wakes Up from Bender with Financial Problems Solved. Often just the headlines at The Onion are enough to leave me laughing out loud. This one should make you a little uncomfortable if you tend to avoid facing your money troubles.

Million Dollar Journey offers opinions on which financial products are best for Canadians.

Canadian Capitalist would like to see Horizons BetaPro offer a U.S. dollar-denominated version of their new U.S. Dollar currency ETF. With versions both in Canadian and U.S. dollars, investors could convert between currencies cheaply and safely.

Money Smarts runs down the rules for interest and penalties when paying your taxes late. Of course, it’s better to pay your taxes on time and this article starts with some advice on how to get your taxes filed on time. Keep in mind that you don’t have to pay and file at the same time.

Larry MacDonald (this web page has disappeared) explains that the medical expenses tax credit can be more valuable if declared by the lower-earning spouse.

Big Cajun Man quotes the Bank of Canada saying that inflation is expected to rise temporarily. This could mean that interest rates will go up. Or maybe they won’t. I doubt that even the decision makers at the Bank of Canada can say for sure.

Preet Banerjee says that just about any investing strategy looks good if you focus on the right past financial data.

5 comments:

  1. "The interest and penalties are generally based on paying late, not on filing late. Doing both on time is the easiest path."

    Not sure what you mean by that... as Mike shows, the penalty for late filing is much worse than for late payment (though if you're in line for a refund, it's a different story).

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  2. @Potato: I removed the comment. I was going for the fact that you can pay on time and then get away with filing late, but I missed.

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  3. Thanks for the mention. Enjoy your holiday.

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  4. Thanks for including me, that's the nice thing about predicting Interest Rates, it's like the weather, if you say UP enough times, you will be right.

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  5. I like The Onion. I never thought I would get sound financial advice from them, though. Very funny article.

    That is interesting that you can pre-pay your taxes by the deadline and file afterwards. It's kind of turning the idea of filing early and paying right at the very end of April on its head. Seems like a valid strategy for avoiding late charges, paying a conservatively large amount for predicted tax owing.

    Enjoy your hiatus.

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