In this video, let's look at 5 ways or strategies you can save taxes in 2023. This will help you regain some of your taxes in 2024 when tax season rolls around. Hope you like this video. Various strategies available, such as contributing to a registered retirement savings plan (RRSP), FHSA, and leveraging tax credits and deductions, can help minimize your tax liability and allow you to retain a greater portion of your well-earned income. There are also ways to make use of your TFSA to save taxes. There will be follow-up videos to talk more about individual topics that were discussed in this video. Feel free to ask questions in the comments. Thank you for watching!

Disclaimer - This content is for education and entertainment purposes only. Rohan Rath does not provide tax, investment, personal or career advice.

Timestamps
00:00 Introduction
00:27 Contributions to the First Home Savings Account (FHSA)
02:01 Contributions to the Registered Retirement Savings Plan (RRSP)
03:23 Tax Loss Harvesting
04:48 Utilize Tax-Efficient Rebalancing
06:31 Maximizing All Miscellaneous Tax Credits

NOT Sponsored but Helpful Links (I use Wealthsimple for Tax filing too):
Wealthsimple (Use Referral Code - LVUUYW): [ Ссылка ]

Canada Registered Accounts and More Playlist: [ Ссылка ]

About Me and Why This Channel Exists:
My name is Rohan Rath, and I am originally from India. I immigrated to Canada in 2019 to pursue my MBA (Masters in Business Administration) at McGill University in Montreal. When I was looking at student loans and financing options in 2018, I became very interested in finance. Over the last 6 years, I have immersed myself in learning about personal finance and investing. As a newcomer in Canada, I took a beginner approach to learning. I started learning everything in a structured manner - through some courses, a ton of reading, and plenty of YouTube videos. It was a difficult path, and I spent 1000s of hours learning about personal finance and investing in North America. At one point, I spent over 10 hours a day doing this. I learned about savings, expense tracking, taxes, investing in value and growth stocks, and even took the time to understand what's happening in emerging sectors such as Bitcoin and Crypto.

This financially driven mindset also helped me pay off $50,000 in student loans in 1 year and accelerate my investments. I now work as a Product Manager in one of Canada's largest organizations and live in Vancouver, BC. But with all this knowledge about finance, my desire to talk about these topics kept increasing. This is what led me to start this YouTube channel. I am now sharing my learnings and hope that others, especially immigrants and newcomers in Canada, find information from someone who understands their journey. The aim would be to learn together and reach our financial goals together.

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