The end of 2022 is quickly approaching – which means it’s time to get everything in order, so you’re ready when it comes time to file your taxes.
We’ve broken this article into the following sections to make it easy to find the tax tips you’re looking for:
• Investment considerations, including how to best contribute to TFSAs, RRSPs, and RDSPs.
• Families, including how to claim childcare expenses and make the most of RESPs.
• Retirees, including essential details about applying for CPP and OAS.
Blended families – where two people get married but have children from previous relationships – are becoming more common. On top of the day-to-day challenges of blending a family, new spouses also have to figure out how to plan their estates, so everyone is properly taken care of.
We cover all of the following a blended family must consider while estate planning:
• Sharing the Family Home
• Make the Most of a Registered Retirement Savings Plan
• How to Share Non-Registered Investments and Other Assets
• Why It’s Important to Select a Good Trustee
• The Advantages of Life Insurance for Blended Family Planning
For incorporated professionals, making sure your business is financially protected can be overwhelming. Incorporated Professionals face a unique set of challenges when it comes to managing risk. Insurance can play an important role.
As a business owner, you have the ability to pay yourself a salary or dividend or a combination of both. In this article and infographic, we will examine the difference between salary and dividends and review the advantages and disadvantages of each.
It’s essential to manage your tax planning properly – both while you are living and for after your death. You want as much of your money as possible to go to your beneficiaries, not the government. Our article contains three tips to help you do that:
1. Learn how to make the most of the lifetime capital gains exemption.
2. Figure out ways to decrease your end-of-life tax bill.
3. Look into Immediate Financing Arrangements.
https://67k78b.a2cdn1.secureserver.net/wp-content/uploads/2022/09/Dont-lose-all-your-hard-earned-money-to-taxes.png?time=1716245050300500Horizon Financialhttps://67k78b.a2cdn1.secureserver.net/wp-content/uploads/2019/12/horizonEnfold2.jpgHorizon Financial2022-09-01 06:00:002022-09-01 06:44:36Don’t lose all your hard-earned money to taxes
2022 Personal Year-End Tax Tips
/in 2022 Only, Blog, individuals /by Horizon FinancialThe end of 2022 is quickly approaching – which means it’s time to get everything in order, so you’re ready when it comes time to file your taxes.
We’ve broken this article into the following sections to make it easy to find the tax tips you’re looking for:
• Investment considerations, including how to best contribute to TFSAs, RRSPs, and RDSPs.
• Families, including how to claim childcare expenses and make the most of RESPs.
• Retirees, including essential details about applying for CPP and OAS.
Estate Planning for Blended Families
/in Blog, Estate Planning, Family /by Horizon FinancialBlended families – where two people get married but have children from previous relationships – are becoming more common. On top of the day-to-day challenges of blending a family, new spouses also have to figure out how to plan their estates, so everyone is properly taken care of.
We cover all of the following a blended family must consider while estate planning:
• Sharing the Family Home
• Make the Most of a Registered Retirement Savings Plan
• How to Share Non-Registered Investments and Other Assets
• Why It’s Important to Select a Good Trustee
• The Advantages of Life Insurance for Blended Family Planning
Insurance Planning for Incorporated Professionals
/in Blog, buy sell, critical illness insurance, disability insurance, Group Benefits, health benefits, incorporated professionals, Insurance, life insurance, travel insurance /by Horizon FinancialFor incorporated professionals, making sure your business is financially protected can be overwhelming. Incorporated Professionals face a unique set of challenges when it comes to managing risk. Insurance can play an important role.
Salary vs Dividend
/in Blog, Business Owners /by Horizon FinancialAs a business owner, you have the ability to pay yourself a salary or dividend or a combination of both. In this article and infographic, we will examine the difference between salary and dividends and review the advantages and disadvantages of each.
Don’t lose all your hard-earned money to taxes
/in Blog, tax /by Horizon FinancialIt’s essential to manage your tax planning properly – both while you are living and for after your death. You want as much of your money as possible to go to your beneficiaries, not the government. Our article contains three tips to help you do that:
1. Learn how to make the most of the lifetime capital gains exemption.
2. Figure out ways to decrease your end-of-life tax bill.
3. Look into Immediate Financing Arrangements.