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thefaithfulsteward · 2 years

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How to change your tax return after you file it

If you made a mistake on your 2021 tax return, don't worry you can make these corrections.

Wait for your notice of assessment (NOA) You can change your return online by using the improved and simplified Change my return option found in My Account, or by using ReFILE. If you prefer, you can complete Form T1-ADJ, T1 Adjustment Request. Once completed, you can mail it to your tax centre.

If you submitted your request online, your change request will take about two weeks to be processed. If you submitted your request by mail, your change request will take longer. Due to COVID-19, the CRA may take 10 to 12 weeks to process paper adjustments.

After we have reviewed your request to change your income tax return, you will receive: A notice of reassessment, indicating the changes made to your return, or A letter explaining why we did or did not make the changes you requested.

For more information: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change-your-return.html

Reference: https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2022/change-income-tax-return-after-file.html <a href='https://www.freepik.com/photos/tax-planning'>Tax planning photo created by katemangostar - www.freepik.com</a>

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thefaithfulsteward · 2 years

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Top Oil Producers

The World’s Top Oil Producers Reviewed by Julius Mansa

"Oil generates revenue for countries with enough oil reserves to produce more oil than they consume. And for those economies that are heavily dependent on imports, oil expenditures must be factored into national budgets. Not surprisingly, events such as unrest in oil-producing regions, new oil field discoveries, and advances in extraction technology profoundly affect the oil industry.

Global production of oil and other petroleum liquids averaged 95.5 million barrels per day (b/d) in 2021, according to the U.S. Energy Information Administration (EIA). The top three producing countries in 2020—the U.S., Saudi Arabia and Russia—accounted for 43% of the world’s petroleum liquids production. The top five producers also including Canada and China accounted for 54% of the global output."

Since the Russia Ukrane war Oil and natural gas prices have went up; also causing shipping prices to go up, along with the factor of Corona Virus' effect on shipping.

Reference: https://www.investopedia.com/investing/worlds-top-oil-producers/

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thefaithfulsteward · 2 years

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Canadian Government tips on buying insurance

Shop around and compare both the coverage and the prices. Some policies may be cheaper, but may not offer the same level of service or coverage. Be sure to get enough insurance. When deciding how much insurance you need, consider the value of the item you are insuring and the full financial impact of paying for the loss or event you are insuring against. Don’t buy insurance you don’t need. Check to see if you are already covered through your home insurance, credit card, group plan, etc. Determine how high a deductible you can pay. Generally, a higher deductible will reduce your premiums, but you will need to pay the full amount of the deductible if you make a claim. During the grace period, read the policy carefully and ask questions about anything you do not understand. Make sure you know what is and isn’t covered by your policy.

" Insurance is one way to limit losses from unexpected events such as a house fire, car accident or illness. Insurance can cover many kinds of risk, and the coverage that you choose depends on your needs. Needs for insurance vary, and your own insurance needs will change during your lifetime depending on your age, income and the assets that you own. Remember that it's essential to be completely honest and act in good faith when you buy insurance and when you make a claim. If you don't, the policy could be void. Insurance helps you control financial risks so that they don't cause a catastrophe, just like that roller coaster's brakes bring it to a smooth stop."

Reference: https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/insurance/insurance-3/5.html <a href='https://www.freepik.com/vectors/sandy'>Sandy vector created by vectorjuice - www.freepik.com</a>

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thefaithfulsteward · 2 years

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How to manage Risk In Personal Finance

By K. Akshay Nayak

"Taking on risk is an essential prerequisite that anyone who wishes to participate in the financial markets and/or manage their money. The degree of risk that each of us can digest is invariably dictated by the relationship between the amount of risk we are willing to take, and the amount of risk we are willing to take. This has become common knowledge."

Within investing it is ever more important to apply this mentality. Risk tolerance is a great way to manage your emotions. Emotions is everything in some markets.

"A reasonable degree of risk is essential to be able to achieve any results worth noting from our investments. At the same time, it makes no sense to risk a lot or all of what we have to chase what we do not need. And this is something that we must always keep in mind when evaluating a certain form of financial or investment risk and deciding whether or not to take it on. Investment risk must only be taken on to the degree where our ability, willingness and desire to take on risk is matched by the need to take it. Risking too little could ultimately that we find ourselves short of money at the most critical time. Risking too much may mean that we leave ourselves having to face the unpleasant scenario of dealing with significant and mostly irreversible financial setbacks. Therefore we must find the perfect balance between all major aspects of investment risk in order to be able to make the most effective and rewarding financial decisions."

View the Full article below!

Reference: https://financemadefunforeveryone.blogspot.com/2022/05/risk-in-personal-finance-desire-vs-need.html

#finance #business #money #investing #financialfreedom #investment #entrepreneur #trading #stockmarket #stocks #wealth #invest #bitcoin #success #forex #motivation #realestate #investor #cryptocurrency #accounting #personalfinance #crypto #financialliteracy #wallstreet #smallbusiness #credit #entrepreneurship #marketing #trader #financetips

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thefaithfulsteward · 2 years

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Economic Outlook Canada Q2 2022: Growth Forecasts Hold Up As Global Risks Rise

North American Chief Economist: Beth Ann Bovino Research Contributor: Debabrata Das

Key Takeaways Our 2022 GDP growth forecast for Canada remains at 3.7%. Economic activity is benefiting from the improving health situation (amid vaccination progress), which has increased mobility and boosted demand, particularly for services, as well as lifted hiring. This will give away to downside pressures from higher prices and interest rates, with GDP softening to 2.6% in 2023 and 1.9% in 2024 from 2.7% and 2.1%, respectively. The main risks to growth are continued supply chain disruptions, exacerbated by the Russia-Ukraine conflict; higher prices, particularly for food and energy; and tighter interest rate policy.

Impact Of Russia-Ukraine Conflict And Higher Interest Rates:

Continued supply chain disruptions, exacerbated by the Russia-Ukraine conflict; Higher prices, particularly for food and energy; and Tighter Bank of Canada (BoC) interest rate policy.

"Inflation dynamics have changed significantly from our last forecast, with soaring energy and food prices and higher durable goods prices due to global supply chain disruptions. In addition, the Russia-Ukraine conflict has pushed global energy, food, and metal prices higher, squeezing Canadian consumers' pockets even more."

Reference: https://www.spglobal.com/ratings/en/research/articles/220328-economic-outlook-canada-q2-2022-growth-forecasts-hold-up-as-global-risks-rise-12322818 https://www.investmentexecutive.com/news/research-and-markets/gdp-rose-0-1-

in-august/

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thefaithfulsteward · 2 years

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Your 2022 Planners Guide: Get Your Life Organized, Stay Motivated, and Conquer Your Goals!

By Mayra Mejia

"A planner will and can help you keep your thoughts all together and help keep you motivated, so we’ve rounded up a few 2022 planners to help you get your whole life."

"From dentist appointments and meetings to due dates for bills and life goals, the planner is a pretty essential tool, especially for us boss babes keeping it all together."

Check out the full article below, she has some nice pictures with links on where to go to get them.

Reference:

https://thecurvyfashionista.com/your-2022-planners-guide/

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thefaithfulsteward · 2 years

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6 Things To Do Now for a Great Writing Year Ahead Some tips to kick-start your freelance writing in 2022 By Nicole Froio

1. Start a Google Doc called “Pitches 2022” where you can write down your ideas. 2. Have a list of dream publications you’d like to be published by. 3. Take a look at special holidays and awareness campaigns that might be taking place during 2022. 4. Take a look at special holidays and awareness campaigns that might be taking place during 2022. 5. Have a running spreadsheet of things you’d like to cover next year, including areas of expertise and future areas of interest. 6. Start a spreadsheet to track your pieces as they go live.

The article was written in December of 2021; its not too late to get these started for 2022. Check out the full thing for more information, to be expounded on!

Reference: https://medium.com/creators-hub/six-tips-to-plan-your-writing-year-ahead-of-2022-79aebaaed8ca

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thefaithfulsteward · 2 years

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On this day Saint Simon the zealot, the apostle, became a martyr.

Simon did not set himself in opposition to Christ, like the chiefs of the Jews, who although they saw and heard what was great and stupendous, did not obey and submit to the righteous man. After witnessing the miracle of the water which had been turned into wine, he became a zealous follower of Christ. Saint Demetrius of Rostov says that this Saint Simon is to be distinguished from the Apostle Simon Peter, and from the Lord’s relative Simon (Mt.13:55), who was the second Bishop of Jerusalem.

“You’ve seen him caring for those people -- the ones so low that no one, not I or anyone else, cared what happened to them. When I see that, I know that the God of Israel has not forgotten us.” - Saint Simon the Zealot

References: https://www.oca.org/saints/lives/2017/05/10/101337-apostle-simon-the-zealot https://bookroo.com/quotes/simon-the-zealot The Etheopian Synaxarium

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thefaithfulsteward · 2 years

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Have you heard of the digital news subscription tax credit?

The digital news subscription tax credit is a non-refundable tax credit for amounts paid by individuals to a qualified Canadian journalism organization (QCJO) for qualifying subscription expenses after 2019 and before 2025.

To qualify for the credit, a digital news subscription must entitle an individual to access content in digital form that is primarily written news.

Individuals who have entered into an agreement with a QCJO for a qualifying subscription that is eligible, can claim the credit on Line 31350 of their T1 Income Tax and Benefit Return for the years 2020 to 2024.

View more information below or book your free consultation for personal help!

Reference: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/deductions-credits-expenses/digital-news-subscription.html

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thefaithfulsteward · 2 years

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Support and resistance in technical trading

Support and resistance are points that the forces of supply and demand meet. "Supply is synonymous with bearish, bears and selling. Demand is synonymous with bullish, bulls and buying." Check out the article below! Was reading this and taking notes, I have been researching technical analysis for stock trading, originally learned from Tone Vays website; you can find him on youtube also.

Reference: https://school.stockcharts.com/doku.php?id=chart_analysis:support_and_resistance

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thefaithfulsteward · 2 years

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Get your will done

Many have a non-legally valid will; ones that we see on the internet of just a note.

"There are many important reasons to have a legally valid Will."

Above are five explainayions on this subject, if you want to know more contact us and book a consultation!

Reference:

IG @empirelife

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thefaithfulsteward · 2 years

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Inflation should remain weaker in Canada than in the U.S.

Sebastien mc mahon from IA financial going over the weekly review of the economy back in November 2021

Stay tuned for updates, Sebasteien mc mahon goes over why inflation should be worse in the U.S than in Canada, while wall street is getting closer to a 25+ year record. Check out the IA financial youtube channel attached below.

Reference: https://youtu.be/eeLzVVNkjdc

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thefaithfulsteward · 2 years

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The Priest Who Moonlights as a Hedge-Fund Manager

Greek Orthodox Father Lemelson offers insider information on how to capitalize on what we're given. By John Burger

"In particular, there are two parables that Christian investors should pay attention to: the Talents and the Prodigal Son, says Father Emmanuel Lemelson."

While listening to a preacher, the parable of the Talents are interpreted to mean the wealth we hold, how we use them for the benefit of the Kingdom of God.

“God cannot accept this sort of lukewarm wasting of talents—because it’s dishonest,” the priest said. “At least the [Prodigal Son] was intellectually honest: ‘Give me my inheritance. You’re as good as dead,’ [he told his father before he went off and spent it all on loose living]. But the third servant was not nearly as honest.”

Christians should not be ashamed about trying to invest their money and making as much as possible, he said. “In fact, I would submit it’s one of the best ways to glorify God.” But it must not be done merely for the sake of accumulating wealth.

“Unless you see capital, in whatever form it comes, as something that was given to you freely, and which you are to be a steward over, it is impossible that it will not lead to a crisis,” Father Lemelson said. “If there’s any question about the fact that the capital we are entrusted with is a free gift of a transcendent God, … when we see it from that higher standpoint you say, ‘I’m entrusted with this capital. Why?’ For the good you would do with it.”

Eastern Orthodox Priest Father Lemelson's Lemelson Capital Management is a private investment management firm whose flagship fund is The Amvona Fund. Amvona, Father Lemelson pointed out, is Greek for “pulpit.” His work managing funds, in fact, gives him a platform to address more spiritual issues.

The article was written by John Burger from Aletetia.org.

Reference: https://aleteia.org/2017/04/29/priest-investor-explains-how-the-parable-of-the-talents-holds-key-to-wealth/

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thefaithfulsteward · 2 years

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How to achieve your plans with Quarterly year reviews By Rachelle from Theorderexpert.com

In this second quarter its good to review your personal financial goals. This article, written by Rachelle, is great for businesses. Check it out when you can!

"Quarterly reviews can be helpful when it comes to your personal goals because they force you to take a bird’s eye view of where you are, and where you’re going."

View the article below! https://www.theorderexpert.com/how-to-achieve-your-goals-with-quarterly-reviews/

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thefaithfulsteward · 2 years

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Some of the 16 best planners for you to buy in 2022 Article by Jenny McGrath and Julia Pugachevsky

Planners are a great tool to keep organized. "Whether your new year's resolution was to form a new habit or just be a little more organized, a good planner can go a long way."

In our modern times, with busy and complex lives we all can use some extra tools to help us get stuff done. "Paper planners are calendars that help you keep track of tasks, appointments, ideas, and so on. They let you see the week or month all at once, in a clear and legible way. But no planner is one-size-fits-all: The best planner for you might be unsuitable for someone else's needs."

In this article (below) they breakdown the different planner styles that's suitable towards you. Check it out below!

https://www.businessinsider.com/guides/learning/best-planner?r=US&IR=T#best-low-cost-planner-apica-cd-free-monthly-planner-1

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thefaithfulsteward · 2 years

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thefaithfulsteward · 2 years

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Saint John Chrysostom of Antioch, Syria

Saint John Chrysostom, an early Church Father, biblical interpreter, and archbishop of Constantinople. The zeal and clarity of his preaching, which appealrd especially to the common people, earned him the Greek surname meaning "golden-mouthed."

What do you think about this quote from Saint John Chrysostom?

Reference:

www.britannica.com/biography/saint-john-chrysostom

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