No matter how often we’re told to prepare for stock market volatility, we are often greatly unnerved by it and wonder if there is anything that can or should be done in response....
A TFSA is a multi-purpose, tax-efficient savings account that complements your existing retirement savings plan. Your TFSA contributions grow tax-free and can also be withdrawn on a tax-free basis at any time, and used for any purpose (i.e., a new ca...
With the steady improvement in life expectancy, many more people will be around to celebrate their 90th birthdays than in the past – but will they have enough retirement income to last their lifetime? According to Statistics Canada, a 65-year-old man...
The Canadian tax legislation contains a number of anti-avoidance tax measures such as those which seek to prevent corporate ”surplus stripping,” that can create a higher tax cost on the transfer of a business to a family member versus a sale......
All parents, particularly those of affluent families, tend to avoid conversations with their adult kids because they fear confrontation, a loss of privacy or worry about their offspring becoming entitled and losing their motivation, says Forsythe....
In a perfect world, your final wishes would be carried out just as you wish. In Canada, you generally have testamentary freedom, which means you are allowed to distribute your estate in the manner you choose, as stated by your Will. However, there ar...
If you plan to spend your winters in the U.S., you should be concerned with more than just ensuring your passport is up-to-date and that your bags are packed. Snowbirds – Canadian residents who spend part of each year in the United States......
Between a pandemic, inflation, interest rates and potential recession, there’s not an entrepreneur on the planet who hasn’t had to tear up at least part of their business plan over the past three years. Now, with economic concerns continuing for the...
Most sports fans assume professional athletes are living the dream, getting paid a hefty salary to do the thing they love, all day, every day. If you’re an athlete yourself, however, you know the reality: the dream comes with an enormous amount......
Many professionals incorporate their practices to enjoy the same benefits as other self-employed incorporated individuals....