RRIF, meet JLTD

If assets remain in a Registered Retirement Income Fund (RRIF), the estate may owe tax equal to about half the value. But a couple can offset the tax with a strategy you may not know about....

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Claiming home office expenses

Thankfully, the Canada Revenue Agency (CRA) has made it easy for employees to claim home office expenses if you spent more than half of your working hours at home for at least four consecutive weeks in 2020 due to COVID-19. Here are the options avail...

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Save tax by splitting income with children

You save tax as a family when you transfer your income to children in a lower tax bracket. We’ve got specific income-splitting strategies that work for minor children and adult children....

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How to minimize tax on retirement income

It’s something you don’t often realize until you retire, but tax becomes one of your biggest expenses in retirement. We’ve got a few strategies that can help you trim your tax bill....

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Missing any tax credits or deductions?

We’ve got some information that will hopefully save you some tax dollars – whether you’re filing a personal tax return or you’re a business owner or incorporated professional....

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End of year reminders and strategies

We’ve got some financial to-dos to stay on track and tips to come out ahead. All must be completed by December 31, and some will be achieved more smoothly if you start early....

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How to save tax as a couple

You can’t escape paying tax on income, but you may be able to split some of your income with your spouse. And if your spouse is in a lower tax bracket, you’ll pay less tax as a couple. Here are three scenarios that illustrate some of the tax-saving.....

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Next best thing to saving tax now

The federal government has recently taken away several tax advantages enjoyed by individual Canadians and businesses, from ending tax-free switching of corporate class funds to removing key benefits of income sprinkling....

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