Financial Library

Planning Ahead Eases Worries when Facing a Tax Audit

A letter arrives from Canada Revenue Agency (CRA). You are being audited. Panic ensues as you wonder what you did wrong and why the CRA is targeting you. 'There must be bigger fish to fry,' you might say to yourself.

The first thing you need to do is relax and take a few deep breaths. If you have a qualified tax advisor on your team, you have nothing to worry about. If you don't, now is a good time to contact a professional tax planner to review your returns and assist you with the audit.

Maximizing Your Retirement

Bob and Lisa are wondering just how their retirement will turn out. After all that's happened over the past few of years, their RRSP accounts aren't what they used to be. Even in the best of times, the accounts weren't as large as they could have been, at least for all their post-retirement desires.

What is Insurance?

Insurance surrounds each of us every day: When you get in your car, when you come home to your residence, and while you work. Insurance is always in the background discreetly doing its job. Most of us, however, do not think about it much or realize the very important function that all types of insurance provide. In fact, the role of insurance is so important that it is the focal point of a wise financial strategy.

Risk Transfer:

Pros and Cons of Annuities

With the turbulent times we have been experiencing in the markets, more people are considering annuities to ensure a certain income in their retirement years. It might not suit everybody to put their funds into annuities, and

there is always the question of what percentage do you want to invest in them, and how much will you leave in the markets? There is no clear-cut answer, and you'll need to weigh your personal circumstances to see how annuities can fit into your retirement plans.

Using a Trust To Avoid Probate

Estate planning is a complex topic, and there are many different facets that have to be considered. One overriding concern many people have is doing something with their assets so they reduce the amount of income tax that may be owed. This is an obvious area for expert advice. However, it is important to realize there are several other factors which have to be taken into account when organizing your estate.

Does Buy and Hold Still Work?

If you are like most people, you have been brought up to believe that you should lock your money away in a reasonable yielding investment to allow compounding to increase your initial deposit over the years and give you a valuable resource for your retirement.

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