Wealthnuvo Financial

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Wealthnuvo Financial

Helping women business owners and investors get clear on finances & build generational wealth
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30/04/2024

We build solutions for Black professionals and businesses that want to get well and wealthy.

15/02/2022

We are in tax season and the tax system can be confusing at the best of times.

Just remember the amount you're taxed depends on your taxable income. The more money you make, the more taxes you pay. This is called a progressive (or graduated) tax system, where low-income earners are taxed at a lower percentage than high-income earners.

A common misconception is if your taxable income moves to a higher tax bracket and that your entire income will be taxed at that higher rate. When in fact, your earnings are divided into different portions that are taxed at the rates that they fall within only. In other words, a tax bracket is the tax rate applicable to a set range of income.

So, even though you earn more and move into the next tax bracket, not all of your income gets taxed in the higher bracket, it’s just the amount in that range. This is called a “marginal tax rate” which is the amount of additional tax paid for every additional dollar earned as income.

Zemi’s marginal tax rate is 29.65% meaning that the next $100 in income she will pay $29.65 in taxes. We’ve calculated the above total tax for Zemi using the basic personal amount exemption but have not included any other applicable non-refundable tax credits (e.g. CPP, EI, donations, tuition, medical expenses, etc).

Reference: Federal 2021 tax brackets. Provincial brackets vary.

15% on the first $49,020 | $49,020
20.5% on the next $49,020 | $49,021 up to $98,040
26% on the next $53,939 | $98,041 up to 151,978
29% on the next $64,533 | $151,979 up to $216,511
33% on the portion over $216,511 | $216,512 and up

07/01/2022

2022 is the year to build the business of your dreams.

You stepped out from the shadow of your former corporate world and into entrepreneurship. This is the year to take giant steps towards the financial freedom being a business owner brings.

What are you hoping 2022 brings?

01/01/2022

Wishing you all a happy and prosperous new year! May the year bring you peace, wealth, and success in life.

29/12/2021

With 2021 almost over, now is the best time to reflect and start focusing on the things that will greatly impact your life. We hope you learned a lot this year, and we wish next year to become the best year for you. Always be fierce, confident, and powerful!

25/12/2021

Merry Christmas! We wish you a joyful season full of love, joy, and happiness!

21/12/2021

Say hello to the wonderful season of Winter! Today marks the start of the coldest season. What do you love most about winter?

18/12/2021

Study shows that women work fewer hours and are paid less because of housework and childcare. Although the gender difference in work hours has decreased over the years, women still have a long way to go. In today’s modern world, it is essential for us as women to achieve financial wellness. You have it within you to start working for your dreams and to live on your terms.

Learn more on how we can help you accomplish your financial goals, on our website, wealthnuvo.com

16/12/2021

Do you want to know if and how you can make your business profitable? The Side Hustle Financial Check-up, one of our services, is the best for you. Here we will help you have a deep dive into your finances to figure out where the gaps are in your financial foundation.

Learn more about The Side Hustle Financial Check-up and all our other services on our website, wealthnuvo.com/

14/12/2021

Things move fast in the world of business and investment, so make sure to regularly review your finances and your strategy to avoid risks and ensure that you're on the right track and be on top of your goal.

13/12/2021

Have you subscribed to us yet?

We help women business owners & investors get clear on their finances, earn more money and profitably scale to multi-6 and 7 figures.

Subscribe today on our website.

12/12/2021

We are your support group and your trusted friend, with who you can feel comfortable talking about money. We are here to help and guide you on your journey to financial freedom.

Visit our website now to book an introductory call to see if we can work together, wealthnuvo.com

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