As we near the end of 2021, many of us may be considering whether we will be making a charitable gift to causes that we care most about. While there are several charitable gifting options, there are a number of strategies to help you make the right decision for your situation. In order to promote […]
With the upcoming Federal Election on September 20, 2021, Canadians will be heading back to the polls, to cast their votes for candidates who bring promises of change and prosperity for Canadians. Each major political party has brought some big proposals to the table, with several changes that can have an impact on the economy, […]
If you are thinking about changing jobs, buying a home, taking on more debt, or starting a family, NOW could be the right time for Life Insurance. However, to really answer this question, let’s first look at what Life Insurance is and what it protects… What is Life Insurance? A Life Insurance Policy that covers […]
You may have been hearing more and more about inflation in the news or on social media recently, but what does it mean? You have probably heard your parents or grandparents say that “back in my day a cup of coffee cost $0.25”. Nowadays most of us are spending at least $2.00 for a cup […]
If you’ve been following the news over the past year, you’ve surely heard about investors getting more heavily into the cryptocurrency space. After all, with such incredible gains over a short period of time, it has gotten people excited about potentially growing their wealth in ways they couldn’t imagine. But of course, with such investments, […]
Did you know that RESP accounts can be used for funding more than just Canadian University and Colleges? In fact, there is a wide array of post-secondary programs both inside and outside of Canada that qualify for RESP funding. Many parents worry that the RESP funds they have spent years saving will not be entirely […]
The Canada Revenue Agency (CRA) has expanded eligibility and simplified the compliance requirements related to home office expenses for employees working from home due to COVID-19. Home office expenses include work-space-in-the-home as well as certain office supplies and phone expenses. Both salaried employees and employees earning employment income in the form of commissions1 working from […]
When it’s time to withdraw funds from a Registered Education Savings Plan (RESP), tax planning may be involved. It’s all because an RESP is composed of two pools of money, one taxable and one non-taxable – and you choose the pool for each withdrawal. One pool is your original contributions. Post-secondary education contribution withdrawals, as […]
The current COVID-19 pandemic has resulted in many pausing to reflect on their estate and incapacity planning. The barrage of news headlines about the health crisis and forced time at home have understandably led individuals to more thoughtfully consider the plans they have in place or plans they would like to implement. Legal professionals throughout […]
Have you recently considered updating your Will or creating one for the first time? If yes, it is important to consider the tax implications of all your decisions before finalizing anything in your Will. The three part series below highlights some of the largest costs incurred and how to minimize them when leaving assets to […]
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