Posted on: October 9, 2017
Standard financial and tax planning advice for the past several decades for business owners has included the use of incorporation to both insulate Canadians from business risk and liability and for asset building and income cash flow planning.
Posted on: August 7, 2017
The wedding and honeymoon are over and you're settling in to your new life. You've accomplished many goals together over the past year with compromises being made over wedding plans, honeymoon destination, and a million and one other details. As you settle in for a long and fruitful life together, it's an ideal time to discuss your financial goals and map out an effective tax strategy that supports it.
Posted on: December 12, 2016
With a few weeks to go before the year-end, you may wish to think about some moves you can take now to save you some taxes for 2016.
Along with the usual advice to do any tax loss selling before December 23rd on any equity investments to offset any capital gains earned in other investments during 2016, there are a few new tax planning strategies that you can take advantage of.
Posted on: May 9, 2016
The recent Federal Budget included measures to close a favorable tax rule for investors in investment accounts or through corporations, trusts and holding companies, who have proposed rules to curb the tax advantages of “corporate class” mutual fund shares.
Posted on: October 12, 2015
“Everyone wants to live at the expense of the state. They forget that the state lives at the expense of everyone.” - Frederic Bastiat
By the time that you read this article, it is very likely that the Federal elections will soon be over. When all the back slapping, hand wringing and hyper-analysis is done, the new political regime will be faced with one inescapable challenge.
Posted on: September 14, 2015
Starting in January 2017, the allowable cash value build up under tax rules in life insurance policies will change. The federal government introduced changes in December 2014 that are designed to modernize life insurance exempt testing rules as they have discovered that people are living longer and that their insurance policies will pay out later.
As a result of this new legislation, the affected demographics are middle-class consumers, business owners and wealthier Canadians looking to pre-fund their estate tax bills using cheaper life insurance dollars at death.
Posted on: June 8, 2015
One out of every three workers is covered by a registered pension plan (RPP). That’s over 6 million people. Like all hard-working Canadians, they are looking forward to a satisfying retirement. Nothing helps create a pleasant experience in your golden years like a steady stream of income every month.
Posted on: November 12, 2014
The following are some ideas for individuals and business owners to reduce income taxes as 2014 draws to a close.
Individuals should consider doing their RRSP contributions before the RRSP rush in the first 60 days of 2015. You can get better values by buying today than when all the last minute procrastinators rush to buy their RRSPs in the New Year and temporarily push up market values.
Posted on: September 9, 2014
Charities play a vital role in our society. The Canadian government recognizes this role and tax breaks exist to encourage taxpayers to give to their favorite charities.
Roger makes occasional donations to various charities. His donations are rather small and amount to only a few hundred dollars per year. He learned that he might get a bigger tax break if he was a little more generous with his donations.
Posted on: February 12, 2013
Do you know the real rate of return on your investments? Generally, Canadians measure the success of their investments based only on the rate of return. While it provides a good snapshot of whether an investment is doing well or not, it is not the only criterion for a true picture of success. A good portfolio is based not only on the return, but also by the tax implications of the investments.