Hey you Hosier, take off…lol.
My intention is to use the TFSA to generate tax free income for living expenses. That’s my primary goal…I just don’t know how to do it yet.
Due to circumstances, I have the full 65k contribution limit and with some restructuring and selling of some assets on Canadian soil I could make that contribution. It is doing it wisely though that will generate that tax-free income.
I don’t intend to live like a king nor buy frivelous depreciating assets with this income souce, just simple living.
I am accumulating crypto assets right now from savings but not redeeming anything. This is where I intend to create wealth. But should that portfolio start to increase in value, that’s where it gets tricky and you can run into problems when you start converting those wins to fiat and spend it and don’t report your taxes properly…that can get you in a whole heap of problems.
Which is why I think the solution is to open a one person corporation and pay yourself an income from that. I have always used an accountant to process my personal and professional corporation taxes in the past, but I think that if I keep this structure simple enough and stay meticulously organized…I think I can handle this task.
I have experience bookkeeping with Simple Accounting…love that program as it is true accounting, not like Quickbooks…but of course if something like this were to work out I would most definitely retain a professional to make sure everything is done right and filed right with CRA.
But, to go back to your original question…yes, this is TREMENDOUS value for the wealth of information here.
I am new as well and supposedly have finished Bitcoin 101…they issued a certificate…but I am not ready to move to Eth101 yet as I haven’t comprehended bitcoin to my satisfaction level yet.
I paid the full price I think for the premium and could get a discount offered from the webinar yesterday but heck, I’m not going to seek it as whatever I paid was a tremendous value. Knowledge is priceless, surrounding yourself with people, contacts, propels you in directions you have never considered…it creates opportunities to break free from the rat race by collaborative thinking.
last question: Labbats blue, Canadian, or Pilsner? that’s right, bob and doug drank Pil!!! lol