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The Difference Between Your Accountant and Your Wealth Consultant

Posted by Todd Gotlieb in Blog

By Michael Bronstine Many business owners surmise that their accountant can do the job of both accounting and wealth management (or vice versa) Many business owners surmise that their accountant can do the job of both accounting and financial planning (or vice versa) when in fact, the…

Family Dynamics, Rather Than Dollars, Complicate Estate Planning

Posted by Todd Gotlieb in Blog

MAy 6, 2019 • KAREN DEMASTERS Navigating family dynamics is more difficult than deciding on the factual details of an estate plan, according to most advisors in a recent survey conducted by Key Private Bank, the wealth management arm of KeyCorp. Seventy-seven percent of the 130 Key…

4 REASONS INTERGENERATIONAL WEALTH IS DESTROYED IN 3 GENERATIONS

Posted by Todd Gotlieb in Blog

Michael Bronstine 04/08/2019 “Shirtsleeves to shirtsleeves in three generations” is a common adage in respect of intergenerational transfer of wealth and family businesses. The first generation creates the wealth, the second stewards it and the third consumes it. Sadly, less than 10% of family wealth survives…

Equitable Bank uses whole life insurance to fund retirement

Posted by Todd Gotlieb in Blog

Clients can borrow up to 90% of their policy’s cash surrender value By: Staff writer, advisor.ca April 13, 2018 Equitable Bank, a wholly owned subsidiary of Toronto-based Equitable Group Inc., has launched a new line of credit product that offers Canadians aged 50 and up another…

Ontario to eliminate probate tax on estates under $50,000

Posted by Todd Gotlieb in Blog

The provincial budget also said the government would extend the deadline for filing estate returns By: Rudy Mezzetta April 12, 2019 The Ontario government is proposing to eliminate probate tax on estates valued under $50,000, and to ease the compliance regime involved in the filing of…

Minimizing tax at death on RRSP – Part 1

Posted by Todd Gotlieb in Blog

By Michael Bronstine In this first of two articles, we’ll look at three options for transferring an RRSP at death, and how you can help. Almost 6 million Canadian tax filers contributed to an RRSP in 2016, down a bit from 20151. But they may…

8 Tax Tips for Canadian small business tax savings

Posted by Todd Gotlieb in Blog

By Glen Johnson, Advisor.CA Small business owners are allotted a variety of methods to improve their tax situation. However, it can be hard to learn about Canadian small business tax savings. As a result, Olympia has compiled a list of some of the most commonly…

Minimizing tax at death on RRSP – Part 2

Posted by Todd Gotlieb in Blog

By Michael Bronstine In this second part of two articles, we’ll look at fourth option for transferring an RRSP at death. The first article in this two-part series explored three options for transferring a registered retirement savings plan (RRSP) at death to help reduce the tax impact…

Minimizing tax at death on RRSP – Part 1

Posted by Todd Gotlieb in Blog

By Michael Bronstine In this first of two articles, we’ll look at three options for transferring an RRSP at death, and how you can help. Almost 6 million Canadian tax filers contributed to an RRSP in 2016, down a bit from 2015.  But they may not…