Understanding Taxes Payable at Death in Canada
Discover how taxes impact your estate in Canada and explore strategies to minimize the burden. Learn how to manage earned income, deemed disposition, and withdrawals at death to preserve your legacy.
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Estate Planning for Blended Families
Blended families – where two people get married but have children from previous relationships – are becoming more common. On top of the day-to-day challenges of blending a family, new spouses also have to figure out how to plan their estates, so everyone is properly taken care of.
We cover all of the following a blended family must consider while estate planning:
• Sharing the Family Home
• Make the Most of a Registered Retirement Savings Plan
• How to Share Non-Registered Investments and Other Assets
• Why It’s Important to Select a Good Trustee
• The Advantages of Life Insurance for Blended Family Planning
How to Choose and Customize a Group Benefits Plan for Small Businesses
Unlock the secrets to creating a brighter, sustainable future for your small business and employees. Discover the power of customized group benefits plans and why they’re the key to success. Read the full article here!
What is disability insurance?
Discover how disability insurance can safeguard your income if you’re unable to work due to injury or illness. Learn about the benefits, how it works, and why it’s crucial for everyone, especially the self-employed.
Getting Ready for Money Emergencies
Facing unexpected financial emergencies? An emergency fund acts as your financial safety net, ensuring peace of mind without dipping into savings or incurring debt. Start small, build steadily.
Network of Professionals
As a financial advisor, my primary goal is to help you achieve financial clarity by accessing a network of dedicated professionals. Together, we provide personalized advice and services to help you make informed decisions and secure your future. Think of me as your financial coordinator, ensuring every aspect of your financial life works smoothly.
How To Use Insurance To Provide Your Family With Financial Protection
The best way to provide your family with financial protection is with solid insurance planning. These three types of insurance will ensure your family has the financial resources they need if you die, are injured, or become ill:
– Life insurance.
– Critical illness insurance.
– Disability insurance.
Stay Ahead in 2024: A Comprehensive Checklist for Federal Tax Updates
Explore the upcoming 2024 Canadian tax changes affecting investors, business owners, and high-net-worth individuals. From capital gains adjustments to new incentives, stay informed with our comprehensive checklist.
2024 Federal Budget Highlights
On April 16, 2024, Canada’s Deputy Prime Minister and Finance Minister, Chrystia Freeland, presented the federal budget.
While there are no changes to federal personal or corporate tax rates, the budget introduces:
• An increase in the portion of capital gains subject to tax, rising from 50% to 66.67%, starting June 25, 2024. However, individual gains up to $250,000 annually will retain the 50% rate.
• The lifetime exemption limit for capital gains has been raised to $1.25 million. Additionally, a new one-third inclusion rate is set for up to $2 million in capital gains for entrepreneurs.
• The budget confirms the alternative minimum tax changes planned for January 1, 2024 but lessens their impact on charitable contributions.
• This year’s budget emphasizes making housing more affordable. It provides incentives for building rental properties specifically designed for long-term tenants.
• Introduces new support measures to aid people buying their first homes.
• Costs for specific patents and tech equipment and software can now be written off immediately.
• Canada carbon rebate for small business
Tax tips to know before filing your 2023 income tax
Unlock the secrets to maximizing your 2023 tax returns with our essential guide. From the new Advanced Canada Workers Benefit to crucial deductions for families, ensure you’re not leaving money on the table this tax season.
