Taxes

Q: I cashed out some of my RRSPs last year to pay down my credit cards. I thought the bank held back enough so that I wouldn’t owe extra income tax, however, I just got my assessment back and I do owe. I’ve been just managing to pay my bills, so with having this extra income tax debt now, I’m not sure how I’m going to be able to keep up. What do you suggest?

A: At first glance, it looks like the challenge you have is your tax bill. However, based on experience, I would suggest that there is more to it than that.