What is a family wealth transfer plan? The wealth transfer strategy is a tax-savings and wealth preservation approach that uses insurance to move wealth to subsequent generations while reducing overall…
Tag: taxes
CCPC Requirements
Advantages to Being a Canadian-Controlled Private Corporation The biggest corporate tax advantage of being a Canadian-controlled private corporation is being eligible for the small business deduction. This corporate tax deduction…
Taxes at Death
What taxes are due on death? As the saying goes, death and taxes are the only sure things. And when someone dies, taxes and other fees will most likely need…
Taxes and Financial Planning
TAX & FINANCIAL PLANNING Have you thought about what your current and future financial picture looks like? You work hard for your money, are able to pay the bills, and…
Registered Plan Fees – CRA’s New Policy
CRA has announced that investment management fees on registered plans such as RRSPs, RRIFs and TFSAs can no longer be paid from outside the registered accounts. CRA now considers that…
Can IPP plan members take a $48,730 Personal Tax Deduction in 2015?
YES. If your T4 income (salary/bonus) is at least $140,000 you can contribute $24,930 to an RRSP. If you become an IPP plan member in the same year, and start…