Last week we heard that Canadians were leaving billions in RRSP contribution room untouched, but there’s word out today that they are finding other ways to reduce their tax-bill.
As the shops fill and the messages of merriment and good cheer are sent out, what better time to think of the less fortunate than during this season of giving? In this series Anne Brayley, vice-president, professional advisory services at the Toronto Community Foundation, speaks to experts in the field of philanthropy.
This course is no longer eligible for CE credits. Go to cecorner.ca to find eligible courses. While tax-advantaged vehicles such as RRSPs and TSFAs are a sure bet for most investors, they are limited by the investor’s contribution room. Once that has been exhausted, investing in taxable accounts is the next step. At that point, […]
Avoiding Canadian winters by heading to the warmer climate of the southern United States has long been a common goal for Canadian retirees. These snowbirds look to enjoy the warm weather while maintaining their Canadian ties. For many it's a great way to spend a part of their retirement, as long as they are aware of the potential tax consequences.
When does a business become a business for tax purposes? This question is fundamental to knowing when to write off losses associated with a business activity against other income on your personal tax return.
Business owners should consider estate-bond strategies to pass assets to heirs.
Baby boomers who fail to implement a long-term financial plan early in their retirement years are at risk of having their government benefits and credits clawed back, warns the BMO Retirement Institute.
Any amount withdrawn from an RRSP is taxed like interest income. So, if Howard withdraws $300,000 to make an investment outside the account, he's subject to a 39% tax rate since he's at the highest marginal rate.
A shareholder agreement is a document used to establish the guidelines that will govern the workings of a company and the relationship between the company shareholders.
The U.S. government may plan to beef up border security, but capital knows no bounds--especially when Uncle Sam thinks he deserves a cut of your client's wealth. Here's help in reducing the tax bill.