WELCOME to the MONEY SECRETS BLOG

Tired of your inner critic throwing a never-ending pity party in your brain? You’re not alone. But there is a way out.

In this article, I’ll cover a four step process to get back into the feelings you want to feel and release negativity. Get ready to feel a whole lot better!

Mike had built significant wealth. But minimizing tax wasn’t his main concern. With his son still only 16, Mike needed an estate plan that could protect the inheritance today while helping his son manage it responsibly in the future.  

I have a quick anecdote that will illustrate two different approaches to generational wealth.

These characters are based on my two friends, Jeff and Dirk, who grew up in the same area.

Dirk seems to have the world by its tail. He’s confident, intelligent, and comes from a very successful family. He hasn’t had to work for anything because it has always been easy.

Jeff, on the other hand…

I’ve been obsessed with the concept of limiting beliefs since I was a kid.

I would observe how different people would react to the same situation. I was curious why some people seemed programmed to respond a certain way while others were not.

I didn’t know the concept of “limiting beliefs,” but I could recognize patterns in people’s reactions based on their life experiences.

It wasn’t until I started meditating that I understood my own limiting beliefs and started to…

Are you a skeptic when it comes to manifesting?

It seems that with manifesting, you’re either a believer or a non-believer—there’s no inbetween.

I’ve found that manifesting is an excellent tool for practical, actionable items. But, if you only manifest and don’t act or look at your own limiting beliefs, you probably won’t get what you want.

The key is to work on your subconscious and your conscious mind together.

Keep reading to discover my method for manifesting as well as some of the research around manifesting and mindset.

In general, the CRA doesn’t consider money or assets you inherited as taxable income, which means that you don’t have to report it.

If you received $100,000 cash from your grandmother after she passed away, you don’t need to add this to your tax return that year and report it as income. This is because your grandmother’s estate is responsible for paying any taxes owed before the estate goes to beneficiaries. 

You can think of this money from your grandmother as a gift given after her estate’s final tax return is filed. As an individual in Canada, your taxable income is income you as an individual earned.

Keep reading to learn more about how your inheritance will be taxed in Canada.

BC does not have an inheritance tax, so you do not personally pay tax just for receiving money or assets.

However, this doesn’t mean taxes aren’t a significant factor when inheriting.  

Keep reading to learn more about how your estate and inheritance will actually be taxed if you live in BC.

There is no official inheritance tax in British Columbia or anywhere in Canada.

That means if you receive an inheritance, you generally don’t pay tax on what you receive.

However, this doesn’t mean there is no tax at death in BC.

When someone passes away, it is treated as if they sold everything they owned right before they died. This is called a deemed disposition, and it can trigger tax on any gains built up over time.

Be sure to read the case study at the end of this post for an example of how estate planning can help you preserve the things you care about and avoid family stress.

In Canada, when you pass away, there is what is called a deemed disposition.

This means it is as if you sold all your capital assets at fair market value (FMV) right before your death, and any resulting capital gain is reportable.

In addition, there are probate and estate administration fees in most provinces.

But while there may not be an inheritance tax, that doesn’t mean there is NO tax. Keep reading to find out how taxes work upon death in Canada.

Do you want to know how to increase your manifesting power without spending hours writing affirmations or visualizing?

Great! You’re in the right place. 

You can incorporate these manifesting tips into your daily life without spending hours on your practice. In fact, if you can dedicate 10 to 20 minutes per day to your meditation and manifesting practice, you’ll be able to create dramatic results. 

Keep reading to find out the specific techniques that I’ve used to make manifesting more effective.