Here is a collection of articles we have published so you can stay informed!
How To Set Financial Goals That Are Realistic And Achievable
The article “How to set financial goals that are realistic and achievable” was originally published in MoneySense on October 25, 2022. Photo by Engin Akyurt from Pexels. Goal setting is an important financial strategy, but the key is to set goals that are realistic,...
My Financial Advisor Overcontributed To My TFSA—Now What?
The article “My financial advisor overcontributed to my TFSA—now what?” was originally published in MoneySense on October 18, 2022. Photo by Cottonbro from Pexels. Overcontributing to a TFSA can be costly, especially if it goes unnoticed. What can you do if the error...
Is Now The Time For A Long-Term Investor To Abandon Stocks?
The article "Is now the time for a long-term investor to abandon stocks?" was originally published in MoneySense on October 12, 2022. Photo by Jenny Ueberberg on Unsplash. It’s been a difficult year for stock investors. Should you move into GICs or mortgage funds to...
Financial Planning In Your 70s
The article "Financial planning in your 70s" was originally published in MoneySense on October 6, 2022. Photo created by rawpixel.com - www.freepik. Be mindful of these money concerns, even after retirement. When most people think about financial planning, they think...
Could A Line Of Credit Impact My Mortgage Application?
The article "Could a line of credit impact my mortgage application?" was originally published in MoneySense on October 6, 2022. Photo by Sarandy Westfall on Unsplash. Line of credit payments and other non-mortgage debt are factored into mortgage affordability...
These Money-Saving Strategies Can Help Investors Make The Most Of A Very Bad Year
The article "These money-saving strategies can help investors make the most of a very bad year" was originally published in Financial Post on October 3, 2022. PHOTO BY BRENDAN MCDERMID/REUTERS FILES. Jason Heath: You can earn a guaranteed return on your investments...
Gifting A Parent’s Assets Using A Power Of Attorney
The article "Gifting a parent’s assets using a power of attorney" was originally published in MoneySense on September 26, 2022. Photo by fizkes from Shutterstock. As power of attorney, does it make sense to divide up a parent’s assets before their death? "I am hoping...
Is A Vacation Home A Good Investment?
The article "Is a vacation home a good investment?" was originally published in MoneySense on September 20, 2022. Photo by Maria Orlova on Pexels. A cottage or other vacation property can provide a great way to unwind and spend time with family. But what are some of...
Can A Non-Resident Open An Investment Account In Canada?
The article "Can a non-resident open an investment account in Canada?" was originally published in MoneySense on September 19, 2022. Photo by Philip Myrtorp on Unsplash. What are the options for investing as a non-resident of Canada? Which is better: an RRSP or a...
Can You Gift A Farm To Your Kids To Avoid Taxes?
The article "Can you gift a farm to your kids to avoid taxes?" was originally published in MoneySense on September 12, 2022. Photo by Gregory Hayes on Unsplash. The idea to gift property to a family member for a dollar to avoid tax is a common one. But can this be...
Should You Buy Real Estate Through A Corporation?
The article "Should you buy real estate through a corporation?" was originally published in MoneySense on September 12, 2022. Photo by Sebastian Staines on Unsplash. It can make sense to purchase rental or vacation properties through a corporation, but often it's...
How Canadians Can Split Their Income And Lower Their Tax Bills
The article "How Canadians can split their income and lower their tax bills" was originally published in Financial Post on September 8, 2022. PHOTO BY CHLOE CUSHMAN/NATIONAL POST ILLUSTRATION FILES. Jason Heath: There are ways to pay less tax during your working years...
Will You Make Money On Your Rental Property?
The article "Will you make money on your rental property?" was originally published in MoneySense on September 7, 2022. Photo by Timur Saglambilek on Pexels. Rental real estate has been a great investment for many Canadians. But how do you assess whether yours is...
What Time Of Year Should You Retire?
The article "What time of year should you retire?" was originally published in MoneySense on September 6, 2022. Photo by Kampus Production from Pexels. When’s the best time to retire? The timing is not always up to you, but if you can choose, there may be an ideal...
FP Answers: How Can You Avoid A Big Capital Gains Tax Bill When You Die?
The article "How can you avoid a big capital gains tax bill when you die?" was originally published in Financial Post on September 2, 2022. PHOTO BY GETTY IMAGES/ISTOCKPHOTO. Adding a child's name to your assets won't accomplish your goal of reducing capital gains...
How To Invest With Spousal Loans For Canadians—And How To Pay It Back
The article "How to invest with spousal loans for Canadians—and how to pay it back" was originally published in MoneySense on August 30, 2022. Photo by Maria Lin Kim on Unsplash. There is plenty of advice on setting up a spousal loan for income splitting, but it’s...
Do You Have To Split Your Estate Evenly Between Your Children?
The article "Do you have to split your estate evenly between your children?" was originally published in MoneySense on August 23, 2022. Photo by Askar Abayev from Pexels. Courts in some provinces can vary the distribution of an estate and override a last will and...
How Capital Gains Tax On Property Is Divided In A Divorce
The article "How capital gains tax on property is divided in a divorce" was originally published in MoneySense on August 15, 2022. Photo by Andrea Piacquadio from Pexels. When a couple separates, how does owning, transferring and dividing multiple properties affect...
Are Home Renovations Tax Deductible In Canada?
The article "Are home renovations tax deductible in Canada?" was originally published in MoneySense on August 8, 2022. Photo by Kindel Media from Pexels. Doing home renovations? Find out if there are any tax incentives that Canadians are able to claim. We are...
U.S. Withholding Tax In An RRSP For Canadians
The article "U.S. withholding tax in an RRSP for Canadians" was originally published in MoneySense on August 2, 2022. Photo by Alexander Mils from Pexels. For Canadians who have withholding tax on U.S. income in an RRSP, sometimes this tax can be avoided. I have EPD...
Should You Transfer Property To A Child And Then Rent It From Them?
The article "Should you transfer property to a child and then rent it from them?" was originally published in MoneySense on July 26, 2022. Photo by Mushtaq Hussain on Pexels. Satyesh is considering transferring his home to his daughter and then renting it back from...
FP Answers: When Should I Take CPP?
The article "FP Answers: When should I take CPP?" was originally published in Financial Post on July 20, 2022. Photo by GETTY IMAGES/ISTOCKPHOTO. The timing for collecting benefits is more important than seniors think FP Answers has received a mountain of questions...
What The Bank Of Mom And Dad Should Consider When Dispensing Money — Especially If It Might Want To Be Paid Back Someday
The article "What the Bank of Mom and Dad should consider when dispensing money — especially if it might want to be paid back someday" was originally published in Financial Post on July 4, 2022. PHOTO BY JIM WELLS/CALGARY SUN/QMI AGENCY FILES. Jason Heath: There are...
What Are The Taxes On Transferring Real Estate To Your Kids?
The article "What are the taxes on transferring real estate to your kids?" was originally published in MoneySense on June 27, 2022. Photo Zen Chung from Pexels. Joan and her partner own the condo her son lives in, but they want to transfer ownership to him. What are...
Capital Gains, Taxes And More: The Implications Of Inheriting Real Estate
The article "Capital gains, taxes and more: The implications of inheriting real estate" was originally published in MoneySense on June 20, 2022. Photo Greta Hoffman from Pexels. There are tax, estate and other implications when inheriting real estate, even from...
What Is The Benefit Of A Graduated Rate Estate When Doing Estate Planning?
The article "What is the benefit of a graduated rate estate when doing estate planning?" was originally published in Financial Post on June 17, 2022. PHOTO BY GETTY IMAGES/ISTOCKPHOTO. Here's a little-known tax tip that could save your family money when doing estate...
How Much Are Withholding Taxes On RRSPs And RRIFs?
The article "How much are withholding taxes on RRSPs and RRIFs?" was originally published in MoneySense on June 13, 2022. Photo by Mikhail Nilov from Pexels. Anne wants to take extra RRIF withdrawals beyond her annual minimum amount and is worried about the tax...
Here’s How To Accelerate Your Retirement Timeline, Without Taking On Too Much Risk
The article "Here's how to accelerate your retirement timeline, without taking on too much risk" was originally published in Financial Post on June 6, 2022. PHOTO BY GETTY IMAGES/ISTOCKPHOTO. Jason Heath: Those approaching retirement can consider these strategies to...
Should You Borrow To Invest With The Smith Manoeuvre?
The article "Should you borrow to invest with the Smith Manoeuvre?" was originally published in MoneySense on June 6, 2022. Photo by Andrea Piacquadio from Pexels. Warren is trying to crunch the numbers on borrowing to invest using a strategy often referred to as the...
FP Answers: How Should I Invest The $260,000 My Father Left Me In His Will?
The article "How should I invest the $260,000 my father left me in his will?" was originally published in Financial Post on June 3, 2022. Photo by GETTY IMAGES/ISTOCKPHOTO. Both debt repayment and investing are good options, financial planner says Q: I’m 52 years...
Where To Start Investing With ETFs In Your 20s
The article "Where to start investing with ETFs in your 20s" was originally published in MoneySense on May 30, 2022. Photo by Andrea Piacquadio from Pexels. Learning about investing in your 20s can be as fun as it is challenging. Here are some thought-starters. I want...
The Tax Implications Of Owning Multiple Properties During Probate
The article "The tax implications of owning multiple properties during probate" was originally published in MoneySense on May 24, 2022. Photo by Erik Mclean from Pexels. When a spouse passes away, what are the tax, probate and mortgage implications for multiple...
Should You Loan Money To Someone Who Is House Rich And Cash Poor?
The article "Should you loan money to someone who is house rich and cash poor?" was originally published in MoneySense on May 17, 2022. Photo by Andrea Piacquadio from Pexels. Loaning money to someone who is house rich and cash poor requires some consideration. Even...
The Tax Implications Of Transferring A Stock Between Spouses
The article "The tax implications of transferring a stock between spouses" was originally published in MoneySense on May 9, 2022. Photo by Vlada Karpovich from Pexels. Joe wants to transfer his 50% ownership of a stock he owns jointly with his wife to her. He is...
FP Answers: Am I On Track To Retire In 25 years If I Have $350,000 Saved Now?
The article "FP Answers: Am I on track to retire in 25 years if I have $350,000 saved now?" was originally published in Financial Post on May 6, 2022. Photo by GETTY IMAGES/ISTOCKPHOTO. Q: I’m 40 years old and want to retire at age 65 with an after-tax net income of...
Buying A Home After Divorce
The article "Buying a home after divorce" was originally published in MoneySense on May 3, 2022. Photo by Andrea Piacquadio from Pexels. During a divorce, one or both spouses may move into new homes. A MoneySense reader has a question about her eligibility for home...
There’s An Upside To Higher Interest Rates, Despite The Pain To Borrowers
The article "There's an upside to higher interest rates, despite the pain to borrowers" was originally published in Financial Post on May 2, 2022. PHOTO BY JUSTIN TANG/BLOOMBERG FILES. One eventual benefit is that borrowers will have a more realistic monthly payment...
How Do Quarterly Income Tax Installments Work?
The article "How do quarterly income tax installments work?" was originally published in MoneySense on April 25, 2022. Photo by Nataliya Vaitkevich on Pexels. Explore how tax installments work, how to best plan to paying them on time, and what happens if you paid in...
Can You Avoid Probate Taxes On TFSAs?
The article "Can you avoid probate taxes on TFSAs?" was originally published in MoneySense on April 18, 2022. Photo by Sora Shimazaki from Pexels. Find out how to shield TFSAs from probate taxes, when no beneficiary or successor has been named for the registered...
How Are You Taxed When You Sell A Small Business?
The article "How are you taxed when you sell a small business?" was originally published in MoneySense on April 11, 2022. Photo by Andrea Piacquadio on Pexels. How do you report the income from the sale of a small business? What are the tax implications? And what do...
What To Do When You Overcontribute To Your RRSP
The article "What to do when you overcontribute to your RRSP" was originally published in MoneySense on April 4, 2022. Photo by Andre Furtado from Pexels. What happens when you inadvertently contribute too much to a RRSP? Find out if there’s anything you can do to...
Converting A Segregated Fund To A RRIF
The article "Converting a segregated fund to a RRIF" was originally published in MoneySense on March 29, 2022. Photo by Kampus Production. If you hold a segregated fund and want to convert it to a registered retirement income fund, this is what’s involved. I have a...
Here’s What The Soaring Inflation Rate Means For Your Retirement
The article "Here's what the soaring inflation rate means for your retirement" was originally published in Financial Post on March 22, 2022. PHOTO BY CHLOE CUSHMAN/NATIONAL POST ILLUSTRATION FILES. Jason Heath: Time horizon and...
When Can You Claim Medical Expenses On Your Tax Return
The article "When can you claim medical expenses on your tax return" was originally published in MoneySense on March 21, 2022. Photo by Anna Shvets from Pexels. After you pay for out-of-pocket medical expenses, what should you do with the receipts? Find out if you...
Capital Gains When Selling Property To Family
The article "Capital gains when selling property to family" was originally published in MoneySense on March 18, 2022. Photo by cottonbro from Pexels. If you sell a property to a relative for a bargain price, does that mean you pay less tax for capital gains? Do I have...
Should You Start OAS If You Are Still Working?
The article "Should you start OAS if you are still working?" was originally published in MoneySense on March 17, 2022. Photo by Tim Mossholder from Pexels. Not retired yet? Wondering about applying for Old Age Security? Here are the things to consider first. I’m...
Understanding The 1994 Capital Gains Tax Election
The article "Understanding the 1994 capital gains tax election" was originally published in MoneySense on March 14, 2022. Photo by Abby Savage on Unsplash. There is a $100,000 capital gains exemption that applied until 1994. Find out if it can be used to reduce the...
Can I Save Tax By Transferring An Investment Property To A Corporation?
The article "Can I save tax by transferring an investment property to a corporation?" was originally published in Financial Post on March 11, 2022. Photo by ERNEST DOROSZUK/TORONTO SUN/POSTMEDIA FILES. The potential transfer of the property presents an opportunity to...
Capital Gains On Subdivided Land, And HST On Vacant Land
The article "Capital gains on subdivided land, and HST on vacant land" was originally published in MoneySense on March 10, 2022. For property that you can subdivide, you can sell some of the land and build a house on the rest. But would you owe any tax? Our primary...
Principal Residence Exemption On Death And Capital Gains With Joint Tenancy
The article "Principal residence exemption on death and capital gains with joint tenancy" was originally published in MoneySense on March 9, 2022. Photo by Anastasia Shuraeva from Pexels. There are rules around capital gains on the sale of joint property in Canada....
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