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Income Splitting

Smart Tax Strategies for Retirees: Income Splitting

Income tax is one of the largest expenses any retiree has. A smart tax strategy to reduce a family’s overall tax burden is to split the income. This means to shift income from a spouse or common law partner (CLP) who is in a higher tax bracket to one who is in a lower tax bracket.

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OAS Recovery Tax
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Smart Tax Strategies for Retirees: Avoid the OAS Recovery Tax

It’s smart tax planning for retirees to arrange their income to avoid this clawback if possible. Some strategies to review are:  Income split with your …

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Health and Medical expenses
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Smart Tax Strategies for Retirees: Keep Track of Health & Medical Expenses

A smart tax strategy during retirement is to keep track of your medical expenses and take advantage of any credits that may be available.

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Beneficiary Designations
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Avoid a huge $$$$ mistake. Check your beneficiary designations now!

A recent article from CBC,  Halifax women calling for more protections on RRSPs after husband’s sudden death by Emma Davie, reviews what can happen if …

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Income Splitting
Blog

Smart Tax Strategies for Retirees: Income Splitting

Income tax is one of the largest expenses any retiree has. A smart tax strategy to reduce a family’s overall tax burden is to split the income. This means to shift income from a spouse or common law partner (CLP) who is in a higher tax bracket to one who is in a lower tax bracket.

Read More →
RESP for kids
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Registered Education Savings Plan (RESP)

My kids are 18 and 20, does setting up a new Registered Education Savings Plan (RESP) still make sense? Excerpts from the Book – Preserving …

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naming your executor
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Who should you name as Executor?

Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® A common question I received as an advisor is whom should …

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The Definitive Guide to Protecting, Investing, and Transferring Wealth.

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