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I got back over $17,000 from CRA and continue to save thousands of dollars every year which really helps my family. Maybe you can too!
Every year accountants, tax preparers and Canadians who do their own personal taxes miss out on millions of dollars of tax refunds and credits. How can you prevent this from happening [...]
It’s tax time again and the deadline to file your 2007 return is just around the corner. At one time, I did my own tax returns and to be honest it was one of the best ways for me to learn about tax planning. Unfortunately, things have gotten a lot more complicated and busy so [...]
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Joint life insurance is a single insurance policy taken out on 2 people, typically husband and wife. Both parties own the policy jointly and are insured for the same amount, but the benefit is paid out only once.
Policies can be either first-to-die or second-to-die. In first-to-die, the benefit is paid to the surviving spouse; in [...]
Why do some people receiving Ontario provincial disability benefits receive $730 each month while others receive $959?
The $730 amount is the ‘room and board’ allowance. If a child lives with the parent they will automatically be slotted into this amount. The $959 amount is composed of $427 for shelter/rent and $532 for supplementary [...]
Trusts are not just for those who are wealthy or for families who have a child with special needs who require the provision of a Henson trust.
Contrary to general belief, trusts can potentially be useful for a significant segment of the population.
A testamentary trust (one which is included in a will) is especially useful for [...]
The following is reproduced from the Canada Revenue Agency web site at: http://www.cra-arc.gc.ca/tax/nonresidents/trusts/types-e.html, dated 2005-05-05
A trust is either a Testamentary Trust or an Inter Vivos Trust. You need to know the type of trust, since different tax rules apply to different trusts. The following are different types of trusts:
Testamentary trust
A testamentary trust is a trust [...]
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As many Canadians can attest, it’s not always what you earn that counts, it’s what you get to keep. This is especially true if you are currently retired or are planning to retire in the near future. To make the most of your retirement income, it makes sense to become familiar with the numerous tax [...]
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Everyone should pay their taxes, but nobody wants to pay more than they have to. Every year, many taxpayers overpay simply because they fail to claim all of the common deductions and credits they are entitled to. Before you submit your next return, check the following list. It represents the most frequently over-looked tax breaks [...]
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Everyone is worried about tax planning. Never mind that tax planning is a year round activity and that most of the best ideas are put into place throughout the year, the simple fact of that matter is that people put things off until they have no choice. What if you had a few thousand dollars [...]
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As most people are aware, the costs of post-secondary education continue to rise. However, there are tax breaks available which, if maximized, can help alleviate the situation somewhat. Here are a few to consider.
1. Credit for tuition and education amounts.
Students can claim a tax credit based on the actual tuition for the calendar year, plus [...]
Brian
I actually use Naviplan financial planning software for my clients. I also use customized spreadsheets to demonstrate certain ideas as ...
Hi Christian,
It's been two months now why not tell everybody what kind of software you use to help people? ...
Gerry
Your company does not have to make contributions to CPP anymore on your behalf under the current CPP rules.
All ...
Christian,
Do mean preferred shares? Your bank owned web site has daily comments about the market. How can ...
Doru
The service Canada reports assume that you will be working until age 65 and that you would be continuing to ...
Brian
I am all for proper financial planning and for use of insurance in a well-structured estate plan. I just ...
Inflation is only one part what about taxes?
"A good balanced portfolio of quality dividend paying equities, preferred shares ...
Brian
As I mentioned before, I am very familiar with GLWB products. I understand how they work, I am able to ...
Doru
The CPP is a contribution based system. If you stopped working you will stop contributing and it would normally affect ...
Doru
If both your spouse and you qualify for OAS you both get it individually. If you both qualify for $524 ...
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