May 17, 2024 If you’re like most entrepreneurs, your family business isn’t just a job – it’s your passion. That’s why you’ve invested so much time and effort into growing your business. Now that retirement is on the horizon (or no longer an abstract, way-in-the-future thought), you’re turning your attention to next steps. More specifically, it’s time for a succession plan. Succession planning is complex and the transition process could take years. Let’s look at some key considerations so you...

February 22, 2024 For most Canadians, the Registered Retirement Savings Plan (RRSP) is foundational to long-term financial security. In this article we’ll look at the key features of RRSPs and the many benefits that make them so popular. How RRSPs work You can contribute to an RRSP from the first time you have qualifying earned income until December 31 of the year you turn 71. For any given tax year, you can make contributions during the calendar year or up to 60 days after that. As an...

Three years ago this was not a thing.  You could not buy a company that was preparing to sell marijuana(mj) for recreational use. Now there are mj farms, dispensaries, accessories manufacturing and bi-product formulations being crafted for beverages and consumables. There is a complete new understanding of botanicals, oils, and dietary science being explored to further develop markets within this industry that in total are expected to dwarf beer and wine sales in the coming years. I have...

We are all aware of families who have children and adults with disabilities, but most of us are unaware of programs designed to financially assist those individuals as they age beyond their earning years.  Most individuals with disabilities may have careers but most won’t have earnings that would allow them to retire with a pension.  The Registered Disability Savings Plan RDSP would provide that option and would assist to bridge the gap to a more modest income.  This program is under-utilized...

We have entered the tax filing period for personal income tax.  If you read our last two articles you would have considered tax loss selling in 2016 and maybe even made some charitable donations to take advantage of graduated tax credits while preparing your 2016 tax return.  Our to do list for 2017 includes creating a net worth statement as a baseline, much the same as your doctor recording blood pressure and cholesterol readings that future readings can be compared to.   Your Net worth...