TAX PLANNING SERVICES 

Tax Implications Affect Your Wealth Management In Many Ways

It’s a fact of life in Burlington and Oakville and in this country; the more you have, the more you have to pay in taxes. Working with professionals during your tax planning process can help as we are adept at keeping more of your money in your pocket, because that is where it belongs.

There are tax implications to each and every element of your Strategic Wealth Plan; Investment Planning, Estate Planning and Cash Flow Planning all incorporate elements of tax and we can deploy a whole arsenal of tactics to minimize your tax burden. We work with clients to utilize all available resources to ensure clients assets and retirement income are managed tax effectively.

Tax-smart strategies include:

• Choosing tax-deferred and tax-exempt options.
• Optimizing tax-preferred income in  non-registered plans.
• Establishing trusts and endowments.
• Splitting income among family members.

 A key aspect to reduce taxes over time in retirement  is to create an effective deacummulation strategy that details how to best sequence the withdrawal of income from your various income sources. This process is reviewed continually to take advantage of each retirees unique and changing tax situation.

Remember, it’s not so much what you make that counts, it’s what you keep.

Questions We Help Answer For Our Clients

• How do we effectively reduce the taxes on our income each year?
• What’s the best way to allocate our investments among RRIFs,  RRSPs, TFSAs, non-registered accounts and HOLDCOs?
• How can we reduce the taxes on  our investment income ?
• Are we income splitting properly?
• Which investment products are tax effective? 
• Do we have a tax effective deaccumulation strategy?
• When or if we sell a vacation property, what is the best way to do so to minimize tax?

Tax Planning  Resources

Below we have generated a number of articles you may find interesting when considering your future needs and lifestyle into retirement.

• How long do you need to plan for?
• Senior Tax Credits

Other Resources:

• Smart Tax Strategies for Retirees: The Four Types of Income in Retirement – Jack Lumsden, CFP®
• Smart Tax Strategies for Retirees: Take Advantage of Key Tax Credits – Jack Lumsden, CFP®
• Smart Tax Strategies for Retirees: Tax Efficient Income Withdrawals – Jack Lumsden, CFP®
• Smart Tax Strategies for Retirees: Avoid the OAS Recovery Tax – Jack Lumsden, CFP®
• Smart Tax Strategies for Retirees: Income Splitting – Jack Lumsden, CFP®