3 Canadian Stocks for Your $6,000 TFSA Portfolio fool.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.ca Daily Mail and Mail on Sunday newspapers.
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Did you know it only takes $500 to build a well-diversified portfolio? Many people confuse portfolio diversification with owning multiple stocks. But if your portfolio can’t maximize your returns and hedge you against inflation, there is no point in diversifying. Think of it like this: you like sweets, but you eat only sweets in different forms, like a chocolate bar, a pastry, or hot chocolate. There will come a time you will crave water or black coffee.
My $500 TFSA portfolio
Similarly, a diversified portfolio is a blend of ETFs, dividend stocks, growth stocks, value stocks, and speculative stocks. And you can get this combo pack for $500. Here are five top TSX stocks trading under $50 for your $500 Tax-Free Savings Account (TFSA) portfolio.
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Are you self-employed? The Canada Revenue Agency (CRA) considers a freelancer, small-business owner, or gig/contract worker as self-employed. The agency has a different tax-filing deadline for self-employed workers, and that is June 15. If you file your returns before June 15, you can get several benefits from the CRA.
Attention self-employed individuals: The CRA has many benefits for you
Being self-employed increases your paperwork. Being your own boss means you are your accountant and tax consultant. Hence, it’s important you stay updated with the CRA benefits. If you file your 2020 taxes on or before the deadline, you can avail of the following benefits:
Many epic TSX stocks are flying under the radar. Gibson Energy stock, Atrium Mortgage Investment stock, and Extendicare stock are hidden gems for yield-hungry investors.
CRA Tax Deadline: It’s NOT Extended in 2021
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Accountants would have wanted the Canada Revenue Agency (CRA) to grant taxpayers more leeway to file their tax returns. The tax agency extended the filing and payment deadlines in 2020 due to the pandemic. However, the CRA declared February 22, 2021, as the official start of the 2021 tax season instead.
The cut-off date of April 30, 2021, should be four days away when this article comes out. Many tax filers argue that this year’s tax preparation is more complex, not the usual as in previous years. COVID-19 is still around, yet the federal government hasn’t announced an extension despite the pleas by tax specialists.