RRSP PROs AND CONs RRSP contribution limits for Canadians continue to increase every year. Your allowable contribution is 18% of your income from the previous year to a maximum...
WHEN TFSAs ARE BETTER Here are a few circumstances when it makes sense to avoid RRSPs. You expect to be in a higher tax bracket in retirement. If you...
TAX-FREE SAVINGS ACCOUNTS An alternative to RRSPs that is rising in popularity is the Tax-Free Savings Account (TFSA). TFSAs were launched in 2009, open to Canadians ages 18 and...
IS AN RRSP RIGHT FOR YOU? A big reason for opening an RRSP is to take advantage of the tax benefits it provides. The funds you contribute will not...
THE PRICE OF ADVICE: THE TRUE VALUE OF YOUR SERVICES Are you worth $3,750 per hour? Here’s a hypothetical scenario: if a client is charged $15,000 annually on $1...
KNOW YOUR RRSP CONTRIBUTION LIMIT After processing your tax return, Revenue Canada sends a Notice of Assessment, which includes your next years’ contribution limit. This document also shows your...
RRSP LIMIT HAS INCREASED The RRSP dollar limit, another indexed figure, has also been updated for 2020, and will be $27,830—up from $26,500 2019. Calculate your savings with RRSPs...
RETIREMENT PLANNING MILLENNIALS ARE STARTING SOONER Millennials are at the perfect age to take a few simple steps that will eventually give them financial freedom in their retirement years....
RRSP LOANS ARE AN OPTION OPTION 1 – An RSP Loan Click here to learn more...
MAKING RRSP CONTRIBUTIONS Your RRSP contributions are tax deductible. That means you can claim them as a tax deduction when you file your income tax return- and lower the...