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2022 Personal Year-End Tax Tips

December 5, 2022 in , , /by

The end of 2022 is quickly approaching – which means it’s time to get everything in order, so you’re ready when it comes time to file your taxes.

We’ve broken this article into the following sections to make it easy to find the tax tips you’re looking for:

• Investment considerations, including how to best contribute to TFSAs, RRSPs, and RDSPs.
• Families, including how to claim childcare expenses and make the most of RESPs.
• Retirees, including essential details about applying for CPP and OAS.

Essential tips and tricks for paying less tax and keeping more of your retirement income

December 1, 2022 in , /by

It’s important to make the most of your retirement income. To do so, you need to be aware of what income is and isn’t taxable, and also how to make the most of the tax breaks you’re entitled to. This article outlines the four main steps you need to take to ensure you keep as much of your retirement income as possible:
1. Make a financial plan.
2. Split your pension income.
3. Buy an annuity.
4. Be aware of retirement-related tax breaks.

The Five Steps to Investment Planning

November 1, 2022 in , , /by

An investment advisor can help you figure out what the right investment choices are for you.
The five steps to investment planning are:
• Meeting your investment advisor
• Determining your goals and expectations
• Developing your investment plan
• Implementing your investment plan
• Monitoring the plan
The sooner you start planning for retirement, the sooner you can get there! An investment advisor can help you get there quicker.

Insurance Planning for Incorporated Professionals

October 3, 2022 in , , , , , , , , , /by

For incorporated professionals, making sure your business is financially protected can be overwhelming. Incorporated Professionals face a unique set of challenges when it comes to managing risk. Insurance can play an important role.

Don’t lose all your hard-earned money to taxes

September 1, 2022 in , /by

It’s essential to manage your tax planning properly – both while you are living and for after your death. You want as much of your money as possible to go to your beneficiaries, not the government. Our article contains three tips to help you do that:
1. Learn how to make the most of the lifetime capital gains exemption.
2. Figure out ways to decrease your end-of-life tax bill.
3. Look into Immediate Financing Arrangements.

The Five Steps to Insurance Planning

July 5, 2022 in , , /by

It’s essential to have enough insurance to give you peace of mind and make sure you are sufficiently insured. Working with an insurance agent can help make sure you are adequately insured.
The five steps to insurance planning are:
• Finding an insurance agent
• Meeting with your insurance agent
• Reviewing your insurance options
• Purchasing insurance
• Filing a claim (when necessary)
An insurance agent can help you understand your policy covers, how much your deductible will be, and all the steps involved in filing a claim.

Don’t lose all your hard-earned money to taxes

June 2, 2022 in , /by

It’s essential to manage your tax planning properly – both while you are living and for after your death. You want as much of your money as possible to go to your beneficiaries, not the government. Our article contains three tips to help you do that:
1. Learn how to make the most of the lifetime capital gains exemption.
2. Figure out ways to decrease your end-of-life tax bill.
3. Look into Immediate Financing Arrangements.