Tax Planning

Almost every financial decision you make, from investing to retirement planning and education funding, carries tax implications that can affect your income, savings and ability to reach your financial goals. We are committed to taking a proactive approach to aligning your financial goals and investments with the most effective tax strategies. We consider both current and future tax implications when evaluating potential financial decisions.

Optimizing Financial Outcomes

What are the most tax-advantageous investments for me?
Should I defer capital gains?
How can I take withdrawals for retirement in a tax-efficient manner?

Tax planning should not be limited to discussions during tax time. Regardless of the simplicity or complexity of your financial situation, implementing tax strategies throughout the year can provide significant benefits to minimize tax liabilities and maximize tax efficiency.

Our Approach to Tax Planning

Some Tax Considerations

Tax planning encompasses a variety of strategies to minimize or reduce the amount of taxes you owe so you can keep more of your hard-earned wealth. These include deferring income, reducing taxable income, taking advantage of deductions, credits, and other incentives, and utilizing tax-advantaged accounts.

Too much capital taken out of a Registered Account could trigger an Old Age Security claw back. As such, a schedule to determine the most appropriate income stream needs to be taken.

Strategies relating to which investments should be held in taxable accounts and which should be held in tax sheltered accounts need to be put in place.

United States citizens living in Canada need to be aware of investments that can create tax issues when filing their U.S. taxes. As well, a tax-sheltered account like a TFSA will probably not be a suitable option.

Remember, each individual’s financial circumstances are unique, and it is crucial to tailor tax strategies accordingly.

Our Approach to Tax Planning

We emphasize the importance of making strategic financial decisions throughout the year and structuring your investments in a tax-efficient manner.

Our Wealth Management Advisors will help you explore various tax planning opportunities. These opportunities may include deferring income, minimizing taxable income, taking advantage of eligible deductions and credits, and utilizing tax-advantaged accounts such as TFSAs and RRSPs. We will work with you to integrate tax planning into your overall investment strategy, retirement goals, and estate planning, ensuring a cohesive approach.

By implementing effective tax strategies, you can potentially retain more of your hard-earned money, accelerate the growth of your investments, and even have additional funds to allocate towards your financial objectives. As your circumstances evolve, we will provide ongoing guidance and support to ensure that your tax strategy remains effective and aligned with your goals.

How We Can Assist You