Tax loss harvesting can save you money, but watch out for the superficial loss rules! The 30-day window is crucial to make your capital loss count.
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First-time investors: start with TFSA for flexibility, then move to RRSP later. The contribution room protection alone makes this strategy worth it.
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RRSPs are Canada's retirement account - contributions reduce taxes, growth is tax-free, and you have withdrawal flexibility for major life events.
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The TFSA is Canada's most flexible registered account - tax-free growth and withdrawals with no income tax implications. Essential for wealth building.
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The 5 pillars of retirement planning work together to replace uncertainty with confidence. Proper planning makes retirement exciting, not stressful.
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Estate planning gives YOU control over your assets and wishes, not the CRA or courts. Start with the basics: wills, POAs, and health directives.
#CashCanuck#EstatePlanning#WealthManagement#TaxPlanning
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5 Retirement Mistakes Pt. 5 - Mistake #4 - Not Minimizing Tax in Retirement. Clients goals dictate how we strategically withdraw from your accounts to minimize taxes. #FinancialPlanning#Retirement#CPP
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#FinancialPlanning #MoneyTalks #WealthBuilding #BusinessOwner #Entrepreneur
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Longevity risk is the retirement challenge no one talks about. Living longer exposes you to inflation, healthcare costs, and program changes.
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Your retirement fuel gauge: 5 key metrics to track so your money lasts as long as you do. Don't let small issues become big financial problems!
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5 Retirement Mistakes Pt 2-Mistake #1-Not Having a Proper Financial Plan
Having no Financial Plan is a mistake. This roadmap syncs your investments, insurance, taxes, and estate for total peace of mind.
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Energy generated from the sun, wind and other renewable sources naturally varies – when the supply dips, there’s less electricity available to power and heat our homes. Being able to store it is therefore key, so what are the option https://t.co/OZEAsQ5sVr
5 Retirement Mistakes Pt 1-Intro
5 most common mistakes:
#1: No comprehensive FINANCIAL PLAN
#2: Not monitoring your key RETIREMENT METRICS
#3: Not managing RISK
#4: Not minimizing TAX
#5: Not planning your ESTATE
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#FinancialPlanning #Retirement #WealthBuilding
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Capital gains are only taxed when you sell the asset - 50% gets added to your taxable income. Holding winners? No tax until you sell!
#CashCanuck#TaxPlanning#CanadianFinance#WealthManagement
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Salary vs dividends isn't either/or - the optimal strategy usually involves a strategic mix of both for maximum financial flexibility.
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Business owners: You may want to look a combination of salary and dividends.
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Business Owner Series Intro - we scaled Rockmoor to a national firm, navigating the same hurdles you face. This series shares how we bridge business success and personal wealth—from trusts and tax efficiency to succession planning.
#BusinessOwner#Entrepreneur
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Don't miss these 3 tax breaks for Canadian families: Canada Child Benefit, childcare deductions, and the powerful Disability Tax Credit with RDSP access.
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A reader asks: "What is tax-loss harvesting, and how can I legally use investment losses in my nonregistered accounts to reduce my tax bill?" https://t.co/GJd7FSHpub
There are actually TWO tax calculations happening when you file - regular tax AND Alternative Minimum Tax. AMT ensures you pay minimum tax even with lots of deductions.
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