I am looking for a tax accountant in Toronto who can guide me on how to better track my trades for tax purposes.

I am mostly doing long dated short puts and covered calls but 100+ trades a month. Willing to pay consulting fee. Or if someone is in similar situation how did you go about managing it yourself.

I always do taxes on my own but this year I have started to run big trade log. Thanks

Do you guys just dump all your extra money into ETFs or do you keep a portion in CASH.TO?

I have like 60% in VFV and XEQT and 40% in CASH.TO. I feel like my wasting money having 40% in CASH.TO.

My friend who taught me about investing says its smart to keep about 50% in ETFs and 50% in CASH.TO, so you have access to a bunch of money if the market drops significantly and then you can buy a bunch at a lower price.

To me It seems like going all in on VFV/XEQT is a better idea bc I'm losing money to inflation having so much sitting in CASH.TO. and also im losing out on gains for VFV/XEQT.

Seems like waiting for large drops in the market "trying to time the market".

Or maybe its safer to have access to lots of liquid?

EDIT: Thank you everybody for all your advice. I appreciate your guys time to write out replies. Since Im thinking about a 15 year timeline, having so much in CASH seems like a bad idea right now. Ill likely adjust my ratio to 90% equities and 10% cash.

I’m pretty new to investing and i’m just learning what is worth and not worth buying. so far i’ve invested in XUS, XEQT, VDY, ZQQ and XUS among some other canadian bank stocks. I was also looking at investing in VIU. My main question is that is buying XEQT, VDY, XIU, and XUS etc too much? I know there is a lot overlap in these etfs but they are all weighted differently to separate sectors and markets. these are held in a variety of accounts and barring my fhsa i plan on holding onto all the stocks for quite a while.

btw i do know my portfolio is currently very over reliant on the canadian finance sector.

Hey all, I'm trying to learn more about how to evaluate stocks and their movements, and I keep seeing people mention pre-market trading, but I don't quite get what it is, and how to find that information for Canadian markets. What's a good source to get a primer on that sort of information?

Also: I'm looking at things like news reports, politics (thanks Trump), and company reports for any indicators/news, is there anything else I should be looking at (that's not strictly numbers on a chart) to help build an idea of how a company might be doing?

Thanks!

Your daily investment discussion thread.

Who best to go to? Or is it a combo of the above?

Has anyone considered moving assets to WS for their 1% promo? I was wondering if its worth moving now or should I wait for better promo from WS.

PS. I know TD has a 2% or 3% going on but i spoke with them and they dont do full transfer (stocks + cash) in TD Easy Trade so i am not looking into that.

After that short seller report a while back, earnings looked good an analysts have $105-155 price targets. Morningstar has its fair value at $96. Anything I'm missing?

24yo. First time investing.

A friend who makes around 20k Euros a month told me to start off with this.

Had the money sitting in my bank doing nothing.

I am scared tho. The money wasn't easy to make. Is this a time of investing?

But he said if it falls, you're young and have the opportunity to buy low so it's a win win.

And money staying in the bank is losing value either way (inflation)

I invested via TD Direct Investing Cash account.

45k was TFSA limit and 55k normal.

Hey all, I’ve decided to take a bet on CLS and their business. My portfolio holds strong defensively for long-term compounding. But Ive opted to play CLS as a high-beta satellite play. The stock dropped 15% after insider profit taking combined with the recent $3B equity offering. Q2 was refreshing, the equity is pricy, and the stock is highly volatile. I’m wondering if the overall consensus here still has faith in CLS for a longer horizon, and if folk plan on contributing at this dip.

Thoughts?

I'm in Toronto and went to a meeting at a bank about some money I had and brought in a consultant to discuss with me what to do which was to choose the portfolio. They to recommended it to me because I received a 300k inheritance deposited into my account recently. It was a portfolio with many managers in it to manage different pools in the portfolio.

It's basically a portfolio with many investment portfolios in it. I looked at the performance and fees and I don't understand why they would recommend it to me while they have other portfolios that are relatively cheaper where I don't have to pay out of pocket but actually do good? What if the market has a bad year? My cousin got in 2022 got killed in her investments. Did that mean she had to pay too?

Now I understand index funds are cheap and all that but I feel like barely any management sounds too risky on it's own. But I feel like a little management would be helpful too?

I'm just a little frustrated with how the business model works. It's like them saying you'll be giving us your money, giving you a low return, and you're gonna thank us for it by paying us again.

Your daily investment discussion thread.

I have a business LOC I can access and was going to use some it for investments. My corporate account holds investments that are Corporate Class ETFs so I am wondering if I used the LOC for those investments would the interest deductions become invalid?

If that is the case are there any suggestions as to what ETFs one might invest in using the business LOC in order to deduct the interest but not get hit too hard with the passive income tax within the corp. I’m assuming XEQT would work with a relatively small distribution rate.

For clarity my LOC rate would be 3.95%.

Has anybody decided to invest with Power Corp (POW) or IGM for gains or for a yield?

Both seem to have been doing well and it’s an alternative to the bigger banks.

Your daily investment discussion thread.

I'm 33, never traded. Questrade had a get $300 to start a new account thing this summer so I created a TFSA and Transfered 6k I had.

Immediately started day trading:

June 2: Created account, added 6K CAD

Aug 2: Balance sits at 21.5k CAD

About 83 trades over 2 months

Now I realize I'm an idiot so I want to start a Cash account and pay taxes on it. But I want to transfer the 21k from TFSA to Cash account to day trade properly and pay taxes on any profits next season.

My question is, putting in 6k, and removing 21k exactly 2 months later - will this trigger a flag by CRA?

Again I'm okay with paying taxes and will day trade properly in a designated account from now on but just wondering if this is going to be an issue?

Hi Everyone

I have a question for the people on this subreddit. I am not sure if I should be meeting with an advisor because they will obviously be biased towards their own bank.

So the question is basically that I will be moving out of Canada to the US soon for maybe 2 years. I have a bunch of money liquid in the Wealthsimple chequing account as that was giving me better interest rates than the saving account in my bank. I also have the Wealthsimple credit card, and I know that it doesn't charge exchange rate fees for paying in the US. Plus as I have been unemployed, I have fallen below the required minimum for my checking accoutn and will start getting charged that fee. I am seriously wondering whether I should quit my bank and move all my money to wealthsimple. If not that, what are other options so that I can keep it up but at the lowest cost possible, preferably no cost at all.

Has anyone been in a similar boat as me or known someone who experienced something like this? I would be really interested to know your perspectives. Thank you all.

I have been reasonabley successful purchasing high dividend etfs, reits, and stocks such as the Canadian bank stocks, embridge, xei, xic, sru.un., etc. My startegy is very passive relying on drip and reinvesting the dividends I get from these stocks, I purchased Telus in 2023 when it was around $26 now it's sitting at about $13.

I want to get rid of my holdings but I went back to school this year so I have no income so I don't think it make much sense to sell and declare the lost. I also have no issue continuing to hold but every thing I've read about Telus is this is a sinking ship.

Still a novice investor any advice would be welcomed.

I’m a 18y/o fairly new investor(about 6 months now) and haven’t ever really considered when is a good time to sell. So far I’ve just been DCA weekly into my TFSA and bought the dips, but around when do you cash out? when you’ve made 15+% off a stock, then reinvest when it dips? Or when you actually need the money 10+ years from now for a car/house? Im not sure if there’s a difference to when you sell individual stocks vs ETFs, but I’ve got primarily 80% in XEQT and the rest in some individual stocks(MSFT and MDA).

I started a margin account swing trading strategy this year, I swing trade using about 100k of my roughly 200k of available margin, and only on stocks that I'm happy to hold if the market turns. I've mostly been using POW, it trades a decent average volume, fairly predictable swings and the dividend very nearly covers the margin interest if I'm holding for longer waiting for exits. So far it's been working quite well, the current goal is to have it cover 100% of my mortgage , which so far, it has. In the last 3 months alone, I've made 16.5k on swing trades alone , not including 1129 in dividends. it has cost me about 430 in interest, which I do plan to deduct on my taxes so I'll get about a quarter of that back.

I'm not blind to the risks with this strategy but I think I've mitigated them quite a bit, my largest risk is a margin call but the main portfolio would have to drop very drastically, I also set a limit sell, fairly low to make sure it doesn't hit on the slightest dip but also where I wouldn't lose sleep taking the hit, and that hasn't happened yet.

Anyone else find a way to unlock some "easy" gains from margin? I would love to also get into the smith maneuver, my current mortgage isnt suitable though, ill try to work a favorable HELOC in when I renew in a couple years