How to Prepare Your Family for the Future: 10 Things to Do Now That Will Protect Your Family When You’re Gone
10 Things to Do Now that Will Protect Your Family in the Future Thinking about the future can be a difficult thing, but it’s important to consider what you can do now to protect your family when you’re gone. To help you prepare your family for the future, here’s a checklist of 10 things you […]
Secure Your Future: A Guide to Financially Preparing for Retirement
Retirement planning can seem overwhelming, but with the right strategy in place, you can ensure a pleasant and financially secure retirement. This guide will walk you through essential steps, from determining how much you need to save to deciding where to invest your money. By planning carefully and making informed decisions, you can create a […]
Understanding Changes to Capital Gains Inclusion Rates in Canada’s Budget 2024
The 2024 budget has introduced significant changes to the capital gains inclusion rate effective on June 25, 2024, aiming to redefine the taxation framework for corporations, trusts, and individuals in Canada. Changes to Canada’s Capital Gains Inclusion Rate Impact of Updated Capital Gains Inclusion Rate for Individuals: Under Budget 2024, the capital gains inclusion rate […]
Navigating Canada’s 2024 Federal Budget: What You Need to Know
On April 16, 2024, Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, unveiled the 2024 Federal Budget, titled “Fairness for Every Generation,” in Ottawa. This budget is focused on three key pillars: building more affordable homes, reducing the cost of living, and fostering inclusive economic growth. Here’s a breakdown of the significant tax […]
Understanding Joint Tenancy vs. Tenancy in Common: Key Considerations in Property Ownership
Understanding the differences between joint tenancy and tenancy in common is critical when owning property with someone else. These two types of ownership have unique rights and implications, particularly in situations like estate planning. Joint Tenancy vs. Tenancy in Common: What’s the Difference? Imagine a scenario where two individuals co-own a property, each holding a 50% […]
New Bare Trust Reporting Rules for 2023 that Might Affect You
On March 28, 2024, the Canada Revenue Agency (CRA) determined that reporting requirements for bare trusts have had unintentional impacts on Canadians. As such, CRA will not require bare trusts to file a T3 Income Tax and Information Return (T3 return), including Schedule 15 (Beneficial Ownership Information of a Trust), for the 2023 tax year, unless the […]
Integrated Tax and Financial Planning for Your Business and Yourself
The overall financial health and success of your business will be greatly improved through integrated planning that considers your current circumstances, your long-term goals, and the opportunities that are available to you. Experience elevated accounting and advisory support that offers you meaningful financial reporting and guidance to optimize your tax savings, profit, and income. With […]
Understanding Canada’s Bare Trust Rules: A Comprehensive Overview
Updated information on new Bare Trust reporting rules for 2023 can be found here. _____________________ When it comes to estate planning and asset management, Canada’s legal system offers various mechanisms to safeguard and manage property. One such instrument is the bare trust, which provides a flexible framework for holding assets on behalf of beneficiaries. For […]
Profit Improvement Strategies for Auto Repair Businesses
If you own an auto repair business, you know that improving your profits is essential to long-term success. Fortunately, with the right financial guidance and support, you can take steps to increase your profits and grow your business. Profit Package: More Cash, Greater Profit Benefit from our Profit Package specifically designed for auto repair businesses. […]
Profit Improvement Strategies for Physicians
As a physician, you have invested significant time, effort, and resources into your medical practice. However, with increasing competition and a changing healthcare landscape, it can be challenging to achieve the level of profitability you desire. Through integrated planning and ongoing support, you can improve your profit. Integrated Planning for the Future One of the […]