VladVassilyev

An overview of Canadian income tax basics, including taxable income, deductions, marginal tax rates, and tax credits. I emphasize the importance of keeping documentation, applying for applicable deductions and credits, and understanding the impact on mortgages and loans. Tools I recommend in this Video ►Credits and Deductions Available in Canada 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.html ►Income Tax Calculator https://www.eytaxcalculators.com/en/2023-personal-tax-calculator.html Books I recommend: ►The 10 Secrets Revenue Canada Doesn't Want You to Know - David M. Voth https://www.amazon.ca/Secrets-Revenue-Canada-Doesnt-Want/dp/0973130709/ref=sr_1_1?crid=1JMF5YLQ7K512&keywords=10+secrets+cra+doesn%2527t&qid=1696368730&sprefix=10+secrets+cra+doesn%2527t%252Caps%252C116&sr=8-1&_encoding=UTF8&tag=profitprophet-20&linkCode=ur2&linkId=e941d7921b4d90fa6b2e38a445af6f2f&camp=15121&creative=330641 ► Common Sense on Mutual Funds - John C. Bogle Book about Mutual Funds and Index funds https://www.amazon.ca/Common-Sense-Mutual-Funds-Bogle/dp/0470138130/ref=sr_1_1?crid=2CWI1MW9OPPQ8&keywords=Common+Sense+on+Mutual+Funds&qid=1688589000&s=books&sprefix=common+sense+on+mutual+funds%252Cstripbooks%252C152&sr=1-1&_encoding=UTF8&tag=profitprophet-20&linkCode=ur2&linkId=a97c53ef630744e47afef0b488a72625&camp=15121&creative=330641 ►Money Master the Game - Tony Robbins One of the best Financial Planning Books I read, but is geared more for Americans https://www.amazon.ca/MONEY-Master-Game-Financial-Freedom/dp/1476757860/ref=sr_1_1?keywords=money+master+the+game+7+simple+steps+to+financial+freedom&qid=1688589558&s=books&sprefix=money+master++t%252Cstripbooks%252C113&sr=1-1&_encoding=UTF8&tag=profitprophet-20&linkCode=ur2&linkId=d4b251958921b0e298f51b794d481379&camp=15121&creative=330641 ►One Up On Wall Street - Peter Lynch A book on Stock Growth Investing strategy by own of the greats in Finance https://www.amazon.ca/One-Up-Wall-Street-Already/dp/0743200403/ref=sr_1_1?crid=1F6KM8BPYU5JC&keywords=One+Up+On+Wall+Street&qid=1688588881&s=books&sprefix=one+up+on+wall+street%252Cstripbooks%252C134&sr=1-1&_encoding=UTF8&tag=profitprophet-20&linkCode=ur2&linkId=b58e6ac347fc6a0199cf8b3b258327e4&camp=15121&creative=330641 ►The Intelligent Investor - Benjamin Graham A timeless Investing classic https://www.amazon.ca/Intelligent-Investor-Definitive-Value-Investing/dp/0060555661/ref=sr_1_1?keywords=the+intelligent+investor&qid=1690932826&s=books&sprefix=The+inte%252Cstripbooks%252C440&sr=1-1&_encoding=UTF8&tag=profitprophet-20&linkCode=ur2&linkId=e0ae6f43b37cb422e4a15afca1c40bbc&camp=15121&creative=330641 None of this is meant to be construed as financial advice, it's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future. Timecodes 00:00 - Intro 01:39 – Income, from Gross to Net 03:30 – Applying Tax Deductions 05:18 – Tax Brackets/Margins, How do they work? 08:36 – Federal and Provincial Tax 10:28 – Applying Tax Credits 11:20 – Summary 12:25 – How to Minimize Taxes 15:25 - Outro