The scenario: Wondering where your money has gone. You just took out cash and you’re already staring into an empty wallet. A myriad of fees and tuitions are looming.
Simply put, you have children and, worst (best)-case scenario, they’re all planning on going to university! People often s...
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Three examples to show you how
Have you ever had that feeling where something seems too good to be true? The other day I was reminded of such a time when listening to one of my favourite podcasts. The guest on the show was a fitness guru, who mentioned how many of the bodybuilders of the ’80s ...
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I recently met a friend for coffee and blew her mind.
Naturally, as most mind-blowing experiences go, we started out discussing her corporation and saving taxes. We’ve talked before about how she can use her corporation to save over 30% in taxes by keeping funds in the corporation instead of t...
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The tax vultures began circling when my friend’s stepfather prepared to sell his medical research practice a few years ago. Unfortunately, when they bit, they took a large chunk – as in hundreds of thousands of dollars in taxes.
The real bad news is that it could have been prevented. Her...
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If you honestly think you’re paying too much in taxes, you probably are. As a financial advisor, some of the common queries (*complaints) I receive from my clients have to do with their tax bill. As it usually turns out, the clients are right. They have been shelling out too much in taxes.
Th...
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A young attractive couple are having dinner. The woman looks up at her boyfriend, "There’s something I need to tell you...I love you!"
He stays silent. He continues to stay silent, for what seems like an eternity. As any of us might do in such an awkward situation, the girlfriend eventually ru...
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Q: In terms of remuneration for someone who is incorporated, what’s the difference between salary and dividends?
A: The major difference is how much you’ll pay in taxes. For personal corporations, income is the salary that the incorporated professional pays himself from his corporation. ...
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