All Ask Peak Money stories
Dear Peak Money,
I've transitioned my side hustle as a content creator into a full-time gig and am on track to earn six figures this year! My accountant suggested I consider incorporating my business, which seems unnecessarily complicated for my one-person operation. Should I stay a sole proprietor for now?
Dear Peak Money,
I filed both my 2021 and 2022 returns in April. I owed about $1,400 for 2021 but in 2022 I got a $1,500 return. A notice in My Account said I had until May 29, 2023, to pay 2021’s balance so I did it right away, but now it seems like the return I was expecting for 2022 has been applied to what I owed meaning I paid my tax bill twice.
Dear Peak Money,
I’ve just been accepted to Chiropractic School! I took a year off after getting my degree to work and pay down some of my debt, but I still owe about $6,500 for OSAP. Does it make sense to pay off that small amount if it turns into an interest-free loan once I’m a full-time student again in the fall?
Dear Peak Money,
I’m interviewing for a new job, and I’m very excited! The only issue is that it’s in a different city, and the commute is long. I love the work I do, but the pay isn’t great. I want to negotiate a higher salary that factors in the time and money I’ll spend commuting, but how much is too much to ask for? Should I bring it up during final interviews or wait until I am hired?
Dear Peak Money,
I’ve been out of work for about six months now. I had a good emergency fund, found a roommate and got a part-time job to help with bills. But I’m out of cash, and my credit cards are almost maxed, with too little income right now to live and pay my debt.
Dear Peak Money,
My partner and I have decided to split. We’ve been together for a couple of decades, not married, and have no kids—but we do own a house together (paid off), and it’s worth a lot more now than we paid for it.
My partner and I have decided to split. We’ve been together for a couple of decades, not married, and have no kids—but we do own a house together (paid off), and it’s worth a lot more now than we paid for it.
Dear Peak Money,
A very close friend of mine is planning a destination wedding in Hawaii. Originally it was supposed to be in the summer of 2020, but the couple decided to postpone indefinitely. Now, they've sprung on their guests that they'd like to get married in August of this year, but my financial circumstances have changed, and I can't afford to go.
Dear Peak Money,
I started a YouTube channel during the pandemic—primarily out of boredom. Surprisingly, I amassed a small but loyal audience and made a few thousand dollars from ads. Do I need to claim this as income? If so, how? I’ve only ever had jobs where I got T-4s.
Sincerely,
Young and on YouTube