Invest Large Lump Sum of Money Tax-Efficiently By Using Your Children

Invest Large Lump Sum of Money Tax-Efficiently By Using Your Children

Here is the scenario You’ve just inherited $1,000,000. You invest the million and it starts generating $40,000/year in dividends. $40,000 is great until you realize the tax man takes away $15,114 every year, leaving you with $24,886. What can you do? Well, you have these kids, your kids! And their current annual income is a big…

Retirement Plan Leads to $900,000 in Savings

Retirement Plan Leads to $900,000 in Savings

Here is a real-life example of how two tweaks to a couple’s retirement plan, saved them over $900,000. For this video, we start by going over Donna and Steve’s (names have changed for confidentiality reasons) background and going over a few assumptions that need to be made. Follow along as we find out what their…

Where Should I Invest?

Where Should I Invest?

Today I will be discussing an option that business owners have when they have some cash inside the corporation that they do not need to fund their business. The question is “I have some money.  Where should I invest? Inside my corporation, or should I invest it personally inside an RRSP?”   Two Options Imagine…

Tax Season Part 4: RCA Trusts

RCA Trust

Tax Season: Part 4 discusses RCA Trusts. An RCA Trust is an option for players playing in Canada to help mitigate some of the higher taxes they will have to pay. RCA stands for retirement compensation agreement. Let’s discuss an overview of: how the trust works how you use it the biggest benefit of the…

Tax Planning Strategies - Part 4

Tax Planning Strategies: Dealing with Capital Gains (Part 4)

Wanda has been investing for a long time and is quite familiar with buying when prices are low and selling when prices are high. Past non-registered account purchase In 2010, she had purchased $100,000 of ABC Corp, and today, it’s worth $250,000. Wanda is now ready to sell her investment as she believes the stock…

Tax Planning Strategies - Part 3

Tax Planning Strategies: Tax-Loss Selling (Part 3)

Tax-Loss Selling Judy bought $400,000 of ABC Bank shares in her non-registered account. Today her ABC Bank shares are worth $375,000, and she is showing a $25,000 loss. Judy plans on holding these shares for the next ten years, so she isn’t overly concerned with the short term drop in her investment. For this week’s…

Multiply your Capital Gains Exemption

Let’s Multiply Your Capital Gains Exemption

Let’s Multiply Your Capital Gains Exemption As a farmer, you have a lifetime exemption of one million dollar on the sale of farmland. If you exceed that amount, you could be looking at a large tax bill. Here is an option to increase your capital gains exemption. In this video, we will show two things. First, when no plan is in place and the ensuing tax bill. Second, how your tax bill may be substantially decreased with the aid of using this approach.…

Tax Planning Strategies - Part 2

Tax Planning Strategies: 4 Strategies You Should Implement this Year (Part 2)

It’s the beginning of December, and Bob has purchased a rental property from his brother. Imagine how unfair it would be if Bob had to pay tax on his brother’s rental income for the entire year. Fortunately for Bob, that’s not the case, but this can happen when you purchase an investment in a non-registered…

Managing Your Portfolio in Retirement

Managing Your Portfolio in Retirement

  Managing Your Portfolio in Retirement The financial industry tends to make things more complex than they need to be. As a result, topics like this usually go in one ear and out the other. My aim with this webinar is to simplify this topic by providing an explanations (in simple English). This webinar will cover topics to be aware of as you approach or are…

The GIS Strategy How To Receive Tax-Free Income

The GIS Strategy: How To Receive Tax-Free Income

As an Investment Advisor and Certified Financial Planner, I’m relied upon to reduce my client’s tax bill as much as possible. Today, I wanted to share with you a strategy that, if implemented correctly, can see your family receive nearly $140,000 tax-free from the government. That’s a lot of money in your pocket for merely…

Early Retirement Package

Important considerations to make before accepting an early retirement package

Companies will often offer employees early retirement packages to encourage them to retire. This is usually done when the company is looking to cut costs and reduce staff. Before making a decision, there are many questions to be addressed. All of which are specific to individual preferences and circumstances. Here are eight such considerations to…

What happens to pension

What happens when you withdraw your pension?

    Today we’ll be going over what happens when choosing the lump sum payout option from your defined benefit pension plan. As you’re likely aware, a defined benefit pension plan will pay you a monthly income for life, so why choose the lump sum payout option instead? A few common reasons include: Pension Sustainability:…

Income Splitting

Income Splitting in 2018

On December 13, 2017, Canada’s Finance Minister announced the revised tax measures that relate to income sprinkling by business owners and their families. Income sprinkling refers to a strategy often used by high income businesses or incorporated professionals to redirect their income to lower earning family members to decrease their tax burden. The tax laws are…