As we move toward the end of the year, we approach the season of giving. Many Canadians increase their charitable giving during this period. However, not everyone is maximizing their giving in the most tax-efficient way. Whether it’s a continuation of donations made throughout the year, or an initial donation, there are several strategies to consider when donating prior to the end of the year.
With the end of the year fast approaching, Canadian taxpayers will want to consider all the tax planning opportunities available to them. Which year-end planning strategies apply to you will depend upon your specific circumstances and objectives. The IG Wealth Management Year-end Tax Planning Checklist can help you understand what opportunities are most suited to you.
Selling a business is a significant decision, often marking the culmination of years, if not decades, of hard work, perseverance, and dedication. The process can be complex and emotionally charged, and being well-prepared is key to ensuring a smooth transition and achieving the best possible outcome. This article will provide a detailed checklist to help guide medium-sized business owners through the necessary steps in preparing for the sale of their business.
Some Canadians are fortunate enough to get great workplace benefits. These often include health and dental coverage, a company pension and company share ownership options. Another common benefit is company life insurance (known in the industry as group life insurance).
Over the next two years, almost half of all Canadian mortgages will come up for renewal. This is something that typically happens to most mortgage holders every five years or so.
Starting university is an exciting time for students but can be a stressful one for their parents. While it’s natural for parents to be concerned about where their kids will live or what they’ll eat if they’re studying away from home, the biggest worry may be around how to pay for tuition and accommodation.
When you’re young, life insurance can be used to protect your family by providing money to replace your income. However, as you approach retirement, there’s less need for income replacement, and the focus switches instead to wealth protection. Wealth protection is a permanent concern, requiring permanent solutions.
In recent years, the concept of mindfulness has transcended the boundaries of mental and emotional well-being to impact other areas of life, including personal finance. Financial mindfulness is an approach that integrates the principles of mindfulness — a focused, non-judgmental awareness of the present moment — into financial decision-making and management. This article will explore the concept of financial mindfulness, demonstrate its benefits in personal finance management, and provide practical strategies that can help foster financial awareness and stability that can transform your financial life.
It’s not easy to talk about estate planning; after all, who wants to think about what might happen when they’re no longer here? It’s also a complicated topic, covering investments, tax and real estate, not to mention hard-to-navigate family issues. There’s far more to it than just making a will — find out exactly what’s involved in estate planning. As a result, many people make mistakes or forget important steps when developing their estate plan, which can lead to trouble for their loved ones.
Creating a will means making big decisions that will impact your family for years after you’ve gone. While divvying up assets, assigning care for dependants and tax planning will take up most of your will-creating conversation, you’ll also have to consider who should be the executor of your will (or the liquidator in Quebec).
When it comes to insurance, there are some types that we automatically take out. Car insurance, home insurance and life insurance are often considered non-negotiable essentials.
It’s not easy to talk about estate planning; after all, who wants to think about what might happen when they’re no longer here? It’s also a complicated topic, covering investments, tax and real estate, not to mention hard-to-navigate family issues. There’s far more to it than just making a will — find out exactly what’s involved in estate planning. As a result, many people make mistakes or forget important steps when developing their estate plan, which can lead to trouble for their loved ones.