Taxation "Arbitrage", Also Known As Free Money
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It's tax season and decisions regarding whether or not to contribute to RRSPs is upon us, assuming no automatic contribution vehicle is in place. What to do!?
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Taxation - Friend or Foe
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The tax season is upon us and it's a great time to take a hard look at our yearly earned income summaries and ask ourselves "Is the next incremental dollar in wages worth my time?".
It's an important question because, all else being equal, there are diminishing returns to making each additional dollar in earned income when it comes to taxes. As we move up each individual income bracket, taxes and other deductions take an increasingly large part of our take home pay. As our gross pay gets fatter, so do the government coffers. Once we get to a certain point, the extra money may not be worth the extra time and stress.
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