Here is a collection of articles we have published so you can stay informed!

Are RRSP Contributions Worth It At Age 70?

Are RRSP Contributions Worth It At Age 70?

The article "Are RRSP Contributions Worth It At Age 70?" was originally published on MoneySense on August 14, 2018. Q: We are a retired couple getting very close to converting RSPs to a RIF (my husband has one more year). We have a substantial capital gain to report...

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Investments To Use For A Down Payment On A House

Investments To Use For A Down Payment On A House

The article "Investments To Use For A Down Payment On A House" was originally published on MoneySense on August 8, 2018. RRSP or TFSA? Likely, it’ll be both Q: My son has money in an RRSP (mutual fund) and TFSA (cash sitting in account) and he buys a condo this year....

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Simplify Your Investments To Save On Estate Tax

Simplify Your Investments To Save On Estate Tax

The article "Simplify Your Investments To Save On Estate Tax" was originally published on MoneySense on August 1, 2018. William wants to plan his estate so that it is as seamless as possible for his children when he passes away Q: I am a 72-year old divorced male with...

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Can You Receive CPP Benefits From Two Partners?

Can You Receive CPP Benefits From Two Partners?

The article "Can You Receive CPP Benefits From Two Partners?" was originally published in MoneySense on July 24, 2018. Twice the split CPP? It’s possible, to an extent. Q: Can I get CPP from a common law partner if he dies, even though I receive CPP from a divorced...

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Do Canadian Expats Have To Pay Income Tax?

Do Canadian Expats Have To Pay Income Tax?

The article "Do Canadian Expats Have To Pay Income Tax?" was originally published on MoneySense on July 17, 2018. Taxation is based on residency, but expats coming back should watch out Q: I am Canadian citizen living in Pakistan since 2002. I have no home or family...

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How To Earn A Risk-Free 4% Annual Return

How To Earn A Risk-Free 4% Annual Return

The article "How To Earn A Risk-Free 4% Annual Return" was originally published on MoneySense on July 3, 2018. This reader doesn’t want to put her capital at risk. But there may be a few things she hasn’t considered. Q: I am a widow with $300,000. How realistic is it...

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Can You Inherit A TFSA Tax-Free?

Can You Inherit A TFSA Tax-Free?

The article "Can You Inherit A TFSA Tax-Free?" was originally published on MoneySense on June 27, 2018. Linda wants to know if there are any tax or probate fee implications when you inherit a TFSA Q: Is the money from a TFSA tax free as an inheritance? Any probate...

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Can You Get Survivor Benefits From An Ex-Spouse?

Can You Get Survivor Benefits From An Ex-Spouse?

The article "Can You Get Survivor Benefits From An Ex-Spouse?" was originally published on MoneySense on June 19, 2018. That may depend on whether you’re separated or divorced Q: Your article prompted me to think about my pension lost to my ex-wife, whom I very...

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How Cottage Renos Can Reduce Your Capital Gains

How Cottage Renos Can Reduce Your Capital Gains

The article "How Cottage Renos Can Reduce Your Capital Gains" was originally published on MoneySense on June 12, 2018. Phylis and her son own a cottage together. She wants to understand the future tax and estate planning implications. Q: My son and I have purchased...

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What To Do When Your Withholding Tax Is Too Low

What To Do When Your Withholding Tax Is Too Low

The article "What To Do When Your Withholding Tax Is Too Low" was originally published on MoneySense on June 5, 2018. Kersten is worried she’ll have a big tax liability next spring Q: I retired at 55 and I am collecting my full teaching pension. I have recently...

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Work Abroad? Your Income Is Fair Game For The CRA.

Work Abroad? Your Income Is Fair Game For The CRA.

The article "Work Abroad? Your Income Is Fair Game For The CRA." was originally published on MoneySense on May 8, 2018. To avoid this, you need to break ties with Canada Q: I am a permanent resident of Canada. I live here with my kids. My husband works in Dubai. He is...

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Should I Raid My RRSP To Pay Off My Line Of Credit?

Should I Raid My RRSP To Pay Off My Line Of Credit?

The article "Should I Raid My RRSP To Pay Off My Line Of Credit?" was originally published on MoneySense on May 6, 2018. It’s tempting to cash out RRSPs but watch out for the tax bite Q. My wife and I currently have a mortgage of $297,000. On top of that we’ve had to...

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How To Reinstate OAS After It’s Clawed Back

How To Reinstate OAS After It’s Clawed Back

The article "How To Reinstate OAS After It’s Clawed Back" was originally published on MoneySense on May 1, 2018. There is a form to fill out, but it’s entirely optional Q: My father’s OAS was completely clawed back last year because his net income for 2016 was well...

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The Benefits And Flexibility Of Family RESPs

The Benefits And Flexibility Of Family RESPs

The article "The Benefits And Flexibility Of Family RESPs" was originally published on MoneySense on April 25, 2018. Grants and growth can be allocated amongst any beneficiaries of the plan Q: Can you write an article on how family RESPs work once the oldest children...

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Why Incorporation Isn’t Always A Magical Tax Fix

Why Incorporation Isn’t Always A Magical Tax Fix

The article "Why Incorporation Isn’t Always A Magical Tax Fix" was originally published on MoneySense on April 18, 2018. Sandie’s wife has a small business she plans to run for the next few years. Is she better off incorporating her business or not?   Q: My wife...

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Should We Take Dad’s Money Now To Avoid Probate?

Should We Take Dad’s Money Now To Avoid Probate?

The article "Should We Take Dad’s Money Now To Avoid Probate?" was originally published on MoneySense on April 10, 2018. Hold your horses! It’s not your money just yet… Q: My mom just passed away. Everything went to my dad. My sister and I are trying to decide if we...

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Timing CPP And OAS With Workplace Pensions

Timing CPP And OAS With Workplace Pensions

The article "Timing CPP And OAS With Workplace Pensions" was originally published on MoneySense on March 28, 2018. Even if you expect a ‘bridge’ payment from your DB pension, deferring CPP makes sense Q: My husband is retired military and will turn 60 this year. He’s...

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Cutting Down Capital Gains Tax On Real Estate Sales

Cutting Down Capital Gains Tax On Real Estate Sales

The article "Cutting Down Capital Gains Tax On Real Estate Sales" was originally published on MoneySense on March 20, 2018. Defer RRSP contributions to mitigate taxes Q: Is there any real estate investment I could invest my capital gains in, without being robbed of...

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When To Watch Out For OAS Clawbacks

When To Watch Out For OAS Clawbacks

The article "When To Watch Out For OAS Clawbacks" was originally published on MoneySense on March 14, 2018. Working in retirement? Beware clawbacks. Q: I have been trying to find out how much extra income a person can earn without having to report the income while...

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RRSP Top-Ups In Retirement Could Cost You

RRSP Top-Ups In Retirement Could Cost You

The article "RRSP Top-Ups In Retirement Could Cost You" was originally published on MoneySense on March 7, 2018.   Remember: It’s not worth saving $5,000 of tax today to pay $10,000 of tax tomorrow Q: I retired in May 2009 and was under the impression that I...

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Giving Money To Your Grandchildren

Giving Money To Your Grandchildren

The article "Giving Money To Your Grandchildren" was originally published on MoneySense on February 20, 2018. Consider a formal trust, among other options Q: A senior couple would like to transfer shares in individual companies to five different grandchildren. All are...

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How To Start Investing Late In Life

How To Start Investing Late In Life

The article "How To Start Investing Late In Life" was originally published on MoneySense on February 11, 2018. It’s never too late to start playing catch-up Q: I am a late bloomer. I finally have an empty nest, but I had low income employment and always lived with my...

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Financial Planning And Mental Illness

Financial Planning And Mental Illness

The article "Financial Planning And Mental Illness" was originally published on MoneySense on February 7, 2018. Advice for a reader who’s been unable to save due to her chronic mental illness Q: I am 43 with no children or spouse. I have a mental illness that is...

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Become A Millionaire By Investing The Wage Hike?

Become A Millionaire By Investing The Wage Hike?

The article "Become A Millionaire By Investing The Wage Hike?" was originally published on MoneySense on January 23, 2018. It’s hard to invest money when you’re making minimum wage. But you can make the boost add up. Ontario Premier Kathleen Wynne increased the...

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Pension Income Splitting Explained

Pension Income Splitting Explained

The article "Pension Income Splitting Explained" was originally published on MoneySense on January 16, 2018. The kind of pension that qualifies, when it makes sense to defer and the tax consequences to watch out for Q: I am 62 years old and I receive a pension from my...

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What Happens To Your Spouse’s TFSA If They Die

What Happens To Your Spouse’s TFSA If They Die

The article "What Happens To Your Spouse’s TFSA If They Die" was originally published on MoneySense on January 9, 2018. It depends on whether you’re their beneficiary, a successor holder or neither —Updated Jan. 16, 2018 to clarify TFSA rules for those who live in...

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The Best Way To Transfer RESP Money To An RRSP

The Best Way To Transfer RESP Money To An RRSP

The article "The Best Way To Transfer RESP Money To An RRSP" was originally published on MoneySense on January 2, 2018. Transferring in-kind versus cashing out, plus keep in mind penalties due Q: When transferring my unused RESP accumulated income into my RRSP, am I...

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When To Load Up On Defensive Stocks

When To Load Up On Defensive Stocks

The article "When To Load Up On Defensive Stocks" was originally published on MoneySense on December 28, 2017. Timing the market is difficult; instead, focus on your own asset allocation and risk tolerance Q: Is it reasonable or practical to shift to defensive stocks...

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Do I Need To Retire My Debt, Before I Retire Myself?

Do I Need To Retire My Debt, Before I Retire Myself?

The article "Do I Need To Retire My Debt, Before I Retire Myself?" was originally published in MoneySense on December 21, 2017. It might make more sense to pay off debt later Q: So, I’m retiring (single male 65) with $850,000 total in RRSPs and a DCP where I currently...

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How Can I Use My Extra RRSP Room When I Retire?

How Can I Use My Extra RRSP Room When I Retire?

The article "How Can I Use My Extra RRSP Room When I Retire?" was originally published in MoneySense on December 13, 2017. You can’t use up next year’s room this year, but there are ways to put that room to work Q: In 2019, I will retire. I will contribute $26,000 to...

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Is An RRSP Worth It If You’re Retiring Abroad?

Is An RRSP Worth It If You’re Retiring Abroad?

The article "Is An RRSP Worth It If You’re Retiring Abroad?" was originally published on MoneySense on December 5, 2017. It makes sense from a tax perspective but might make investing a hassle Q: I am a permanent resident living in Canada. Is it worth me investing in...

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When Using RRSP Money For Debt Is A Bad Idea

When Using RRSP Money For Debt Is A Bad Idea

The article "When Using RRSP Money For Debt Is A Bad Idea" was originally published on MoneySense on December 2, 2017. You may have to withdraw twice the amount you owe Q: My wife and I currently have a mortgage of $297,000. On top of that we’ve had to dip into our...

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How To Evaluate Your Group Savings Plan At Work

How To Evaluate Your Group Savings Plan At Work

The original article "How To Evaluate Your Group Savings Plan At Work" was originally published on MoneySense on November 28, 2017. Is Renee paying too much for her investments? Q. I have been registered with an insurance company through my employer since 2001. At the...

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Owning Canadian Stocks As A U.S. Resident

Owning Canadian Stocks As A U.S. Resident

The article "Owning Canadian Stocks As A U.S. Resident" was originally published on Moneysense on November 14, 2017. What are the capital gains consequences? Q: I live in the USA but still have some stocks in a Canada brokerage. If I should sell them what is the...

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LIRA Regrets

LIRA Regrets

The article "LIRA Regrets" was originally published on MoneySense on November 14, 2017. This woman’s husband transferred his workplace pension to a high-fee LIRA and is looking for a smarter solution Q: My husband worked for a municipality and when he left we...

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How To Choose The Right Insurance

How To Choose The Right Insurance

The article "How To Choose The Right Insurance" was originally published on MoneySense on October 31, 2017. Tara isn’t sure if mortgage, life or disability insurance is the right way to go for her and her husband. Q: My husband is 57 and I am 45. I am currently a stay...

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REIT Investing: The Risks of Chasing Returns

REIT Investing: The Risks of Chasing Returns

The article "REIT Investing: The Risks of Chasing Returns" was originally published on MoneySense on October 24, 2017. This reader is happy with his real estate returns but not with his other equities. Should he transfer to REITs? Not so fast. Q: My wife and I are...

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Planning Through Salary Swings

Planning Through Salary Swings

The article "Planning Through Salary Swings" was originally published on MoneySense on October 18, 2017. How to best plan given uncertain income Q: My income fluctuates quite widely from year to year. How do I plan for this and how do I handle the tax implications of...

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RRSP Withdrawals In Your 40’s

RRSP Withdrawals In Your 40’s

The article "RRSP Withdrawals In Your 40's" was originally published on MoneySense on October 3, 2017. Converting to a RRIF might be more trouble than it’s worth Q: I’m a federal government employee and was thinking about take some time and using my RRSPs to live on...

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Why Adding Your Kids To The House Title Will Cost You

Why Adding Your Kids To The House Title Will Cost You

The artcile "Why Adding Your Kids To The House Title Will Cost You" was originally published on MoneySense on September 26, 2017. It seems to be common practice for seniors to add the kids to ownership of a house. I’m not sure why. Q: My parents have both of their...

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What Taxes Do My LIRA Beneficiaries Have To Pay?

What Taxes Do My LIRA Beneficiaries Have To Pay?

The article "What Taxes Do My LIRA Beneficiaries Have To Pay?" was originally published on MoneySense on September 19, 2017. Be aware of tax bills Q: Is the tax rate on a LIRA the same as the RRIF if I die and the beneficiaries are my children? —Brian A: First, Brian,...

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Risky Robos

Risky Robos

The article "Risky Robos" was originally published on MoneySense on Septembe 12, 2017. Robo-advisors aren’t dangerous but they aren’t “safe” either Q: My husband needs to set up a RRIF within the next three months. We currently have his RRSP in mutual funds with a...

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How To Invest Your Money In Canada As A U.S. Citizen

How To Invest Your Money In Canada As A U.S. Citizen

The article "How To Invest Your Money In Canada As A U.S. Citizen" was originaly published on MoneySense on September 5th, 2017. Generally, Americans should avoid TFSAs and RESPs Q: I am both a Canadian and American. At this juncture, I will not give up my American...

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Inheriting Cottage Capital Gains

Inheriting Cottage Capital Gains

The article "Inheriting Cottage Capital Gains" was originally published on MoneySense on August 29, 2017. Jill’s late husband left her a cottage. What happens if she transfers ownership to her stepchildren? Q: My husband passed away last year and left our family...

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Are Investment Fees Tax Deductible?

Are Investment Fees Tax Deductible?

The article "Are Investment Fees Tax Deductible?" was originally published on MoneySense on August 22, 2017. Jerry pays a few thousand dollars in monthly fees but they may not be tax deductible Q: I pay a few thousand dollars in monthly fees to the various RRSP funds...

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Capital Loss Tax Deductions From Beyond The Grave

Capital Loss Tax Deductions From Beyond The Grave

The article "Capital Loss Tax Deductions From Beyond The Grave" was originally published on MoneySense on August 15, 2017. Yvonne’s recently-passed husband had capital losses. Did she maximize the claim on his final tax return? Q: My husband passed away last year and...

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Gifting Your RRIF To Your Children

Gifting Your RRIF To Your Children

The article "Gifting Your RRIF To Your Children" was originally published on MoneySense on August 8, 2017. Angie wants to give her RRIF to her children while she’s still alive Q: Can I change my RRIF back to RRSPs or put it all in a savings account? Bottom line is I...

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Should You Do A Pension Buyback?

Should You Do A Pension Buyback?

The article "Should You Do A Pension Buyback?" was originally published on MoneySense on August 1, 2017. It’s almost always a good idea Q: I have been working at a college for 10 years. The last nine were full-time with pension deductions. My first year was contract...

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The Retirement Reshuffle

The Retirement Reshuffle

The article "The Retirement Reshuffle" was originally published on MoneySense on July 25, 2017. How to rearrange investment accounts in your golden years. Q: I am married with a minor son. My wife and I have been successful saving and investing. Presently we have in...

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CPP And OAS After The Death Of A Spouse

CPP And OAS After The Death Of A Spouse

The article "CPP And OAS After The Death Of A Spouse" was originally published on MoneySense on July 20, 2017. Keith arranged to split pensions with his late wife many years ago. What is he entitled to now? Q: I am 84 and many years ago my wife and I arranged to...

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Reasons To Tap RRSPs Before Age 71

Reasons To Tap RRSPs Before Age 71

The article "Reasons To Tap RRSPs Before Age 71" was original published on MoneySense on July 12, 2017. Doing this makes sense for plenty of Canadians. Is it the right option for you? Q: If you are self-employed and have a holding company, does it not make sense to...

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Should You Use RRSPs To Pay Down The Mortgage?

Should You Use RRSPs To Pay Down The Mortgage?

The article "Should You Use RRSPs To Pay Down The Mortgage?" was originally published on MoneySense on July 5, 2017. Careful, the tax hit may be hefty if you tap your RRSP early Q: My husband and I will have good pensions. He is thinking that we should cash out our...

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Collecting CPP While Working In The U.S.

Collecting CPP While Working In The U.S.

The article "Collecting CPP While Working In The U.S." was originally published on MoneySense on June 27, 2017. How to transfer Social Security credits from the U.S. to Canada Q: I worked outside Canada for nearly 10 years (1992-2002) in the USA. I have two questions...

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Tax Facts When Hiring A Nanny

Tax Facts When Hiring A Nanny

The article "Tax Facts When Hiring A Nanny" was originally published on MoneySense on June 20, 2017. You have different obligations depending on if your nanny is your employee or is considered self-employed Q: I have four children for whom I can claim child care...

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Retiring To Mexico – For A Lower Tax Rate

Retiring To Mexico – For A Lower Tax Rate

The article "Retiring To Mexico - For A Lower Tax Rate" was originally published on MoneySense on June 13, 2017. You technically have to pay just 15% on your Canadian income, but there’s more to the story Q: We have a friend living in Mexico 10 months of the year. She...

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Using Real Estate vs. RRSPs To Fund Retirement

Using Real Estate vs. RRSPs To Fund Retirement

The article "Using Real Estate vs. RRSPs To Fund Retirement" was originally published on MoneySense on June 6, 2017. You’ll have to unwind the RRSP regardless, so watch the tax bill when selling a home for retirement income purposes Q: We have three rental properties...

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Turning Investment Income Into Mortgage Payments

Turning Investment Income Into Mortgage Payments

The article "Turning Investment Income Into Mortgage Payments" was originally published on MoneySense on May 30, 2017. For conservative investors, paying down debt provides a great return Q: I have a mortgage of $120,000 with an interest rate of 2.25% variable. I have...

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Retirement Income Jitters

Retirement Income Jitters

The article "Retirement Income Jitters" was originally published on MoneySense on May 23, 2017. Penny has a defined benefit pension, but no equities. Will she have enough income in her golden years? Q: I have a defined benefit pension, real estate (but not...

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Can You Have RRSPs and RRIFs At The Same Time?

Can You Have RRSPs and RRIFs At The Same Time?

The article "Can You Have RRSPs and RRIFs At The Same Time?" was originally published on MoneySense on May 16, 2017. And more importantly, should you? Q: I have various RRSP accounts and am considering converting some (all) to RRIFs. Must I convert all my RRSP...

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Tax Traps For The Self-Employed

Tax Traps For The Self-Employed

The article "Tax Traps For The Self-Employed" was originally published on MoneySense on May 2, 2017. Know your employment status to avoid a surprise tax bill Q: I worked for my Dad’s lawn care sole proprietorship business as a summer student. His accountant said...

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How Business Owners Should Time CPP And OAS

How Business Owners Should Time CPP And OAS

The article "How Business Owners Should Time CPP And OAS" was originally published on MoneySense on April 25th, 2017. Deferring has extra benefits when you own a business Q: I retired recently, having just turned 65 years of age. I have not applied for CPP or OAS as...

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Everything You Can Do With Your RRSP At 71

Everything You Can Do With Your RRSP At 71

The article "Everything You Can Do With Your RRSP At 71" was originally published on MoneySense on April 19th, 2017. If you still have time, you should consider withdrawals before 71 Q: I’m about to turn 71 and have RRSPs that have to be dealt with. Should I turn them...

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Maximize OAS With A Corporation

Maximize OAS With A Corporation

The article "Maximize OAS With A Corporation" was originally published on MoneySense on April 4, 2017. Gillian is facing major clawbacks. Here are solutions for her predicament Q: My name is Gillian and I have an incorporated company located in the Province of...

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How To Qualify For EI Benefits In Retirement

How To Qualify For EI Benefits In Retirement

The article "How To Qualify For EI Benefits In Retirement" was originally published on MoneySense on March 27th, 2017. Just because you paid loads into a program doesn’t mean you’ll get EI benefits when you retire. Q: I’m a 75-year old male, working part-time and...

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Are U.S. Stocks Overvalued?

Are U.S. Stocks Overvalued?

The article "Are U.S. Stocks Overvalued?" was originally published on MoneySense on March 22, 2017. Rod is concerned about valuations on the S&P 500. Is a U.S. stock market crash imminent? Q: It is my understanding that the P/E ratio of the S&P 500 is hovering...

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Collecting CPP And OAS While Living In The U.S.

Collecting CPP And OAS While Living In The U.S.

The article "Collecting CPP And OAS While Living In The U.S." was originally published on MoneySense on March 7, 2017. Brian wants to start collecting his CPP and OAS pensions while working in the U.S. Can he? And should he? Q: I am employed in the USA with a good...

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How To Know A Spousal RRSP Is Right For You

How To Know A Spousal RRSP Is Right For You

Wayne’s wife has no RRSP room, so he’s hoping she can use some of his. But there’s a better way. Q: I have lots of room in my RRSPs, but I am retired on a lower income. My wife still works and has no room in her RRSPs. Is there a way for her to use my RRSPs and still...

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What To Do With Unused RESP Money

What To Do With Unused RESP Money

The article "What To Do With Unused RESP Money" was originally published on February 21, 2017 on MoneySense. Kevin has $54,000 in an RESP but his children have completed their educations. Now what? Q: My wife and I have a son aged 25 years old and a daughter age 27...

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How Much Should You Pay in Investment Fees?

How Much Should You Pay in Investment Fees?

The article "How Much Should You Pay in Investment Fees?" was originally published on MoneySense on February 14, 2017. Fee info is hard to find online. Here’s advice Q: What do you think the fees for investment management at, let’s say, RBC, TD, BMO, or any of the big...

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How To Earn Tax-Efficient Dividend Income

How To Earn Tax-Efficient Dividend Income

The article "How To Earn Tax-Efficient Dividend Income" was originally published on MoneySense on January 31, 2017. Just know that your dividends will turn up on your tax return whether you like it or not.   Q: If I am holding stocks that pay a dividend in a...

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Investing In Canada As A U.S. Resident

Investing In Canada As A U.S. Resident

The article "Investing In Canada As A U.S. Resident" was originally published on MoneySense on January 24, 2017. Margaret has received an inheritance in Canada, but lives in the U.S. What should be her next steps? Q: I am a Canadian citizen. I live in the USA with a...

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