There comes a point when adult children should be asking certain questions of their parents to ensure that their financial affairs are in order. As parents age, achieving financial independence for retirement is a primary objective and effective planning should start well ahead of time….
BUDGET 2018: The competition heats up February 28, 2018 If last year’s budget was largely a wait-and-see response to a new U.S. president with game-changing ideas about trade and tax, well, not a lot has changed. Budget 2018 maintains Ottawa’s cautious position in the face…
Canadians are painfully aware that taxes are a necessity, but you shouldn’t pay a penny more than what’s legally required. Successful and high-income Canadians need to know that many taxes and related expenses—whether on investment income, capital gains, or on death—can be legally minimized or…
You have a lot to remember, so we’ve assembled this reference list of tax numbers. We’ll update it as things change. WORKING CLIENTS Maximum RRSP contribution: The maximum contribution for 2017 is $26,010; for 2018, $26,230. TFSA limit: The annual limit for 2017 is $5,500,…
Tax planning for business owners always requires particular vigilance. Every year, advisors must take into account legislation and economic factors before choosing strategies, says Tony Salgado, director of Financial Planning and Advice at CIBC. This is particularly true in 2018 thanks to the changes to…
GBK Strategic Financial Partners No, we didn’t buy any Bitcoin and we haven’t invested in Marijuana producers yet. However, it was still a very solid year for growth and tax efficiency at GBK. Our holistic approach to wealth management continues to be a valuable process…
“High net worth individuals don’t just leave money at the end of their life – they leave a legacy led by example. A legacy of values, dreams and a solid foundation for future generations. The path to success is communication, education and partnership. The Integrated…
Corporate insurance beyond death Most of us are aware that life insurance can be used by individuals to cover debts, funeral expenses and provide financial cushion to family after death. You may have even considered owning personal life insurance to fund the income tax bill…
Is it the right option for you? Q: If you are self-employed and have a holding company, does it not make sense to use your RRSP funds before 71 and then opt for funds from your holding company after? –Tom A: You’ve asked a good question and…
Tax planning and estate planning often go hand-in-hand, so when changes to either are pending, it’s wise to keep an ear to the ground. Here’s the good news: in its recent 2017 budget, the federal government announced relatively few tax changes that had a significant…