21. Ask Sofiia: How to Legally Pay Less Tax
Taxes are one of the largest expenses you accumulate in your lifetime (ouch!). But while we are obligated to pay it, there are a number of legal ways to reduce your tax bill. In this episode, Sofiia lays the ground for how income tax in calculated in Canada, and the 3 easiest ways to reduce your tax bill.
*Watch this episode in video format on YouTube*
Key takeaways:
00:00 What we’re chatting about today
02:10 Disclaimer
02:40 How income tax in calculated
06:28 Paying less tax option #1
09:13 Paying less tax option #2
12:41 Paying less tax option #3
14:00 Don’t skip this part
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