Blog
How Tariffs Affect Your Wallet: A Canadian Perspective on the US–Canada Trade War
Feb 04, 2025
The US–Canada trade war is hitting home, raising prices on everyday goods and shaking the economy. With tariffs on both sides, what does this mean for your wallet? Learn how trade policies impact your cost of living, investments, and financial future.
TFSA vs RRSP 2025
Jan 31, 2025
When looking to save money in a tax-efficient manner, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) can offer significant tax benefits. The main difference between the two is that TFSAs are ideal for short-term goals, such as saving for a down payment on a house or a vacation, as its growth is entirely tax-free, while RRSPs are more suitable for long-term goals such as retirement. When comparing deposit differences, TFSAs have a limit of $7,000 for the current year, while RRSPs have a limit of 18% of your pre-tax income from the previous year, with a maximum limit of $32,490. In terms of withdrawals, TFSAs have no conversion requirements and withdrawals are tax-free, while RRSPs must be converted to a Registered Retirement Income Fund (RRIF) at age 71 and withdrawals are taxed as income.
2025 Financial Calendar
Jan 01, 2025
Managing your finances effectively begins with staying informed about important dates and deadlines throughout the year. This comprehensive guide outlines key financial milestones, including tax deadlines, benefit payment schedules, and contribution opportunities, to help you stay organized and on track. Whether you're planning for tax season, reviewing your investments, or ensuring timely payments, this calendar provides everything you need to navigate the year with confidence. Take a moment to familiarize yourself with these essential details and set yourself up for a smooth and successful 2025.
2024 Year-End Tax Tips and Strategies for Business Owners
Dec 05, 2024
Discover essential 2024 tax strategies tailored for business owners! From optimizing compensation and preserving the Small Business Deduction to maximizing the Lifetime Capital Gains Exemption, these tips can help save on taxes while planning for your business's future.
2024 Personal Year End Tax Tips
Dec 03, 2024
Get ready for tax season with our 2024 guide! Discover actionable tips for families, retirees, students, and investors, including insights on TFSAs, RRSPs, capital gains changes, and much more. Don’t miss these strategies to make the most of your tax year.
Understanding Taxes Payable at Death in Canada
Dec 02, 2024
Discover how taxes impact your estate in Canada and explore strategies to minimize the burden. Learn how to manage earned income, deemed disposition, and withdrawals at death to preserve your legacy.
Reasons for a Registered Disability Savings Plan
Nov 05, 2024
Discover the unique advantages of a Registered Disability Savings Plan (RDSP)—from government grants and tax-free growth to flexible withdrawals. Learn how this plan secures financial stability for individuals with disabilities.
Setting Up Your Employee Benefits Program
Oct 01, 2024
In today's competitive business landscape, establishing an effective employee benefits program is paramount. Such a program not only attracts and retains top talent but also underscores your organization's dedication to the overall well-being of its employees. This guide outlines the crucial steps to set up a successful benefits program.
Empowering Your Family’s Financial Future: A Comprehensive Guide to Budgeting
Sep 02, 2024
Secure your family's financial future with effective budgeting. Learn how to gain financial clarity, achieve your goals, and prepare for emergencies in our comprehensive guide.
What is disability insurance?
Aug 06, 2024
Discover how disability insurance can safeguard your income if you're unable to work due to injury or illness. Learn about the benefits, how it works, and why it's crucial for everyone, especially the self-employed.