Financial Library

Year-End Tax Planning Ideas

The following are some ideas for individuals and business owners to reduce income taxes as 2014 draws to a close.

Individuals should consider doing their RRSP contributions before the RRSP rush in the first 60 days of 2015. You can get better values by buying today than when all the last minute procrastinators rush to buy their RRSPs in the New Year and temporarily push up market values.

Is Credit Balance Insurance a Rip-off?

Graham, like millions of other Canadians, has and uses credit cards. He often carries a balance from month to month and is concerned about making the monthly payments if he becomes disabled or gets seriously ill. Graham doesn't want to stick his family with the balance if he dies before paying it off.

The credit card company offered him Credit Balance Insurance (CBI) that would take care of these concerns. After looking over the offer, he wondered if it was such a good deal.

The Planning Continuum

A question sometimes asked in the media is exactly what is the role of a financial professional and how do they help the client meet their life goals and dreams. Why do you even need to engage the services of a planner or advisor when so much information is already available for free on the internet and elsewhere?

How to Benefit from Being Charitable

Charities play a vital role in our society. The Canadian government recognizes this role and tax breaks exist to encourage taxpayers to give to their favorite charities.

Roger makes occasional donations to various charities. His donations are rather small and amount to only a few hundred dollars per year. He learned that he might get a bigger tax break if he was a little more generous with his donations.

Market Highs vs Your Goals

As stock market indexes in Canada and the U.S. make new highs on an almost daily basis, as of late June and early July, many investors have expressed increasing anxiety about a possible 'correction'.

Media headlines and commentary on BNN speculating about a possible correction from these recent highs, following a strong run over the past year or more has added to this investor anxiety.

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