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Many family owned/operated businesses are started with the hopes that one day it will be handed down to the future generation. When it comes time to retire you may be looking at handing the business reins over to the kids but you still want to get your investment out of it by way of…
Perhaps you are the higher income earner in your family, or your spouse doesn’t earn any income at all. Yet you are still paying a hefty tax rate because of the income bracket you are in. You may want to think of splitting that income which would allow you to transfer some of the money…
A lot of people are becoming more pro-active in finding legal ways of trying to reduce their tax obligations. There are many ways that they can go about this. Also, it is becoming more important to implement some financial planning strategies that not only include your taxes but help to save money in…
As much as we wish that tax was not something that we had to pay it is a reality, so rather than looking at it with distaste and dreading that tax time of year, perhaps a different approach will make it an easier task in more ways than one. Know where you stand with your…
Almost every parent starts thinking about the education requirements for their little ones well before the little one is ready for school. Most often this also comes with concerns as to how they will be able to afford it. The first thought may be to simply open a separate bank account such as…
Most likely you have heard the term tax brackets and know that they have something to do with the amount of taxes that you have to pay each year. You may have heard some people say that they don’t want to end up in a higher tax bracket so they might not participate in…
Most of us know as Canadians that when spring arrives that tax time also arrives. For a month or so we scramble around getting all of our documents in order and finding the right kind of help to get our tax forms completed and sent in on time. It is now that we show…
For some of us we have even got last year’s taxes done and over with and yet we have to start thinking about the current year. By the time the deadline reaches for the previous year, we are already finishing off the first quarter of the current year. It is often a common…
