Category: Finance

Ouch!

I just looked at my T4 and saw how much income tax I paid over the last year.  Having a home based business will take some of the bite out but there is more that can be done. If you go to the Ernst & Young web site:  http://www.ey.com/CA/en/Services/Tax/Tax-Calculators you can take a look at what …

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We are coming into a taxing time!

That time of year quickly approaches. The infamous tax season!It’s not too late. You can still take advantage of your RSP’s for the 2011 tax year in Canada (by the end of February!).Here is a little trick. This may not work for you and you should certainly discuss this with your adviser first.What if you borrowed …

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This Is A Taxing Time

Why is it everyone waits until February to think about their taxes?There are things that you can do before the end of the calendar year that can make a difference. January 1 may be too late. For example: Did you realize that if you buy new equipment by December 31, you can take a deduction …

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Shareholder Agreements

There is a really good article on Advisor.ca about shareholder agreements. When you are involved in a business with other people, there is a lot of excitement getting started and we just want to hit the ground running.  That’s all well and good until someone gets hurt!  Do I sound like your mother now? Who gets …

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To TFSA or not to TFSA, that is the question.

TFSA’s (Tax Free Savings Accounts) can be very confusing. Let me explain how you can benefit. I’ll preface this with the fact that I’m no longer in the business and you need to discuss your personal situation with your financial adviser. How Does A TFSA Work? Let’s say you are 20 years old and just …

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‘Tis The Season

RSP season that is. This is the time of year you will start to see so many ads about putting money into your RSP.  Advisers start coming out of the woodwork.  If your adviser is any good, you have at least heard from them throughout the year.  It may be an email or a newsletter …

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Why you need an estate plan

Advisor shaking hands with client

Estate planning might sound like a tool for the wealthy. But the truth is, just about everybody has an estate. Most of us need a plan to ensure it is properly distributed to family and other beneficiaries when we die. For financial planning purposes, your estate isn’t a mansion or a huge tract of land. …

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Give your rich uncle a raise. (And let him help you pay off your house sooner!)

Please understand that when I do an article like this, it is purely conceptual.  The numbers are very rough calculations. I don’t know your situation and I’m no longer a financial advisor.  You need to see a professional to determine if this would work for you.  Don’t try this trick without a net! Assumptions:  You …

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Market Insights

My friend Paul Nix , a consultant with Investors Group, invited me to a seminar last night on Market Insights by Bill Chornous. The subject was Market Insights but the discussion could just as well have been about life in general. Bill pointed out how we all react to historical events and make decisions about …

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Are the markets surprised or are we surprised at the markets?

Interesting. The TSX dropped yesterday and I’m not really surprised. The last few days are historically significant. The Canadian political landscape changed very drastically over night. Bin Laden is gone. Since September 9, 2001 when the towers fell there was great uncertainty regarding the security of our country and the price of oil. With Bin …

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