Resolve to pay less tax in the New Year

The Adventurer Of all the resolutions you make for 2010, saving tax may be among the easiest to keep and possibly the most rewarding. Every tax dollar saved is a dollar you can spend on the real priorities in your life. Here are some of our favourite strategies: Open a TFSA for each adult in your family. Why pay tax on your savings when you don't have to? According to Canada Revenue Agency, someone contributin...

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RRSP or pay down mortgage?

With RRSP season now upon us and mortgage rates near historic lows, you may wonder if you should focus on making a contribution to your retirement nest egg or a prepayment on your mortgage principal. The benefits of making an RRSP contribution are twofold: an immediate tax deduction at your marginal tax rate and the tax-deferred growth of your money until it's eventually withdrawn in retirement...

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Planning for the unthinkable with powers of attorney

Imagine yourself suddenly mentally incapacitated Who would you want to be responsible for managing your money, paying your bills and selling investments or other property if you or your family needed cash? Who would you want to make decisions about your housing and health care, including whether or not to keep you on life support? To ensure your wishes are met, you need to prepare and sign t...

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