Investment tax planning is not just about writing the government a cheque; it can be a deeply involved process that takes examines many different variables.
This careful work can dramatically lower the taxes you owe. Every investment option has a tax implication, and understanding the tradeoffs between each choice is critical to maximizing your returns.
RRSP, RRIF, LIF, TFSA, JWROS, LIRA – who can make sense of this alphabet soup?
A Financial Planner can help you understand your investment options, their different taxation rates, and how they fit into your overall financial strategy. The more assets you have, the more complicated this process can become. Owning a corporation, being a beneficiary of a trust, or being in a limited partnership can all affect your tax plan.
The Tax-Free Savings Account is a registered savings account that allows taxpayers to earn investment income tax-free inside the account. Contributions to the account are…
Registered Education Savings Plans are registered education savings plans that grow tax-free until the child is ready for university, college or a vocational institute. The student…
A Registered Retirement Savings Plan is a retirement plan that is registered with the federal government and that you or your spouse or common-law partner can establish and contribute…
Since 2011, the Registered Disability Savings Plan has been available to Canadians who qualify for the disability tax credit and offers a tremendous bonus to those who…
A Borrowing money to invest in an RRSP has many advantages. Besides the immediate tax refund, you also can increase the amount you have to invest and take advantage of…
Leveraged investing is defined as borrowing money to finance an investment. You are familiar with the concept of leverage if you’ve ever borrowed money to make additional contributions…
WHAT OUR CLIENT ARE SAYING…
“My wife and I have known Bill for over 10 years, working with him in various settings from investments to taxes to even charity planning. It is good to know that Bill has such a great reputation in the community and a heart for serving and helping others. He is sensitive to our particular needs and is a good teacher in helping us to understand a holistic picture of how to handle our finances. We wholeheartedly recommend Bill Thompson for your financial needs, you won’t regret it.”
“It has been an absolute pleasure to work with Bill regarding my short and long term goals. He really got to know me and tailored an overall solution that not only helped me save for retirement, but also to have plenty of cashflow for daily life. Following Bill’s advice has truly given me peace of mind.”
“The smartest move we have ever made financially was signing on with Bill Thompson. The value he provides is not limited to his extensive financial knowledge, but also the passion and the care he shows his clients. You could say that Bill lives and breathes “know your client”, getting to know his clients and tailoring strategies to help them get to where they want to go. It’s been 15 years and we can’t wait to work with Bill for the next 15.”
“Bill is our ‘go-to’ person when it comes to valuable financial advice. We started with very little in our savings, but after 3 years of listening to Bill and being prudent with our money, we have been able to build a tidy amount that just keeps on growing. Can’t say enough good things about him, meet with Bill right away!”
