We routinely cover the following topics with clients because they can significantly affect their personal finances. This framework can help prepare you for financial success. Let us know if you have any questions and we can set up a time to discuss your financial goals with you. 1. Budget and Balance Sheet Issues Taking periodic...Read More
The Fraser Institute estimates that Canadian families already pay 43% of their budget in taxes. Furthermore, our taxes are increasing this year with hikes that will cost taxpayers another $3.4 Billion annually! Due to the challenges posed by high inflation and increasing taxes, Canadians have to prepare more diligently to manage their own finances effectively. To...Read More
Hello Everyone, The annual limit for a Tax-Free Savings Account (TFSA) contribution in 2025 is $7,000. A Canadian taxpayer who has never contributed to a TFSA and has been eligible for one since its inception in 2009 will have a cumulative contribution room of $102,000. The TFSA can save Canadians (non-US citizens) a considerable amount...Read More
We came across a detailed article, “How to Gift Money to a Family Member or Friend in Canada” which answers many common questions about the practice of giving or receiving money. https://www.springfinancial.ca/blog/save-invest/how-to-gift-money-to-family-member-or-friend-canada Topics such as restrictions on gifting, the amount you can gift, potential taxes, important differences between Canada and the U.S., as well as...Read More
If you have any Estate Planning questions please give our team a call to set up a time to review your unique circumstances and how your investment accounts can provide you with important Estate Planning benefits. This excerpt from an Estate Planning article linked below discusses named beneficiaries: “Here’s a tip. If you haven’t named...Read More
When we provide financial advice for Canadians we discuss the benefits of opening a MyCRA account with the Canada Revenue Agency. With this account individuals can view and manage their taxes online and gain quick and easy access to important personal financial information. A MyCRA account can make investment planning much easier. Some benefits of...Read More
