Understanding Joint Tenancy vs. Tenancy in Common: Key Considerations in Property Ownership

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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 Trust Reporting Rules for 2023 that Might Affect You

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New Trust Reporting Rules for 2023 that Might Affect You There are new trust reporting rules effective for 2023 that are going to unknowingly affect hundreds of thousands, if not millions, of Canadians and might affect you. This is not just about formal family trusts and estates. This is also about something called a Bare […]

Integrated Tax and Financial Planning for Your Business and Yourself

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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

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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

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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

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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 […]

Small Business Succession Planning | How to Plan for Successful Succession

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According to the Canadian Federation of Independent Businesses (CFIB) report released in January 2023, 76% of small business owners plan to exit their businesses within the next 10 years. However, only 9% have a formal succession plan in place. Some common obstacles to succession planning include: Completing a business valuation Improving the value of your […]

2023 Tax Changes and Updates for Canadians

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Based on the relatively high inflation that Canada experienced in 2022, many significant tax figures, rates, and rules have been updated for 2023. Find changes to federal and Albertan tax brackets and rates, and updates to basic personal amounts, the CPP contribution rate, and Canada Child Benefit here. 2023 Updates to TFSA Limit The 2023 […]

Tax Planning Strategies for Business Owners | Pipeline Planning

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How to Draw Money from Your Business There are several ways to draw money from your company, and they each have different consequences and advantages when it comes to tax planning and optimization. Drawing money from your company can be done through: Salary When you take a salary, the company manages your income tax deductions […]

Understanding and Increasing Your Personal Net Worth | Advice for Physicians

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What is Personal Net Worth Your personal net worth is based on the value of all your assets minus the value of your liabilities. What would you have left after selling everything you own and then paying off your debts? That is your personal net worth, or PNW. Your assets may include cash and anything […]