“It’s not just what you earn, it’s what you keep.  Taking an AFTER-TAX approach”

Tax Planning Services

Financial planning and tax planning go hand in hand. If you want a realistic look at the bottom line, then after-tax investment strategies and after-tax income solutions are the answer. It’s about keeping more of what you earn and making sure you are utilizing strategies to keep more of your hard earned dollars in your pocket.  

We can help you benefit from tax strategies that:

  • Incorporate all tax credits and deductions available to you on your tax return
  • Utilize financial products with preferential tax treatment
  • Incorporate tax deferral and tax conversion opportunities
  • Use income splitting opportunities to your benefit
  • Create estate plans to limit tax exposure at death

 

Taxes.  Pay less, keep more; with after tax planning

Who doesn’t want to pay less tax?  But, how do you do that?  Do you know what tax strategies you should consider for your personal situation?

Understanding Canada’s tax laws can go a long way towards helping you minimize the taxes you pay.  Learning more about the income tax act makes sense in theory, but in reality, most of us find the topic a bit of a bore.   David Chilton was once quoted as saying, “The biggest financial mistake people make is not taking advantage of tax deductions that are available to them.  Why?  They do not know about them.”  Read more...

 

Tax time.  RRSP deductions.  Did you know?

If you make an RRSP contribution in 2015, you need to include the deduction in your 2015 income tax return, right? 

Wrong. It’s a common misconception among Canadian taxpayers worth clarifying.

If you make an RRSP contribution in 2015 (or in the first 60 days of 2016), you can use it for your 2015 income tax return as usual, if you wish.  But what if you don’t want to?  What if your circumstances change after you make the contribution?  What if you no longer need, or want the deduction for that year?  Can you defer it to another year?  The answer; Yes you can.

Read more ...

 

Income splitting and attribution rules

Income splitting is the loaning or transferring of money to a lower-income person (for example, a spouse, common-law partner or child) so that the income or gains from investing the money are taxes at a lower tax rate, which decreases the overall tax burden of the family unit.  Read more.

Ernst & Young Income Tax Calculators

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