The article “Can you trust AI with financial advice?” was originally published in MoneySense on July 31, 2023. Photo by Tara Winstead from Pexels. Advancements in artificial intelligence have begun to accelerate and are a hot investing topic in 2023. Can AI give financial advice you can trust? I am…

The article “When your child moves into your rental property: Capital gains and how to claim principal residence exemption” was originally published in MoneySense on July 24, 2023. Photo by by DAPA Images. When an adult child moves into their parents’ rental property, the family should be clear on a…

The article “How annuities work in Canada” was originally published in MoneySense on July 17, 2023, reposted April 18, 2024. Photo by Kampus Production from Pexels. Annuities have faced headwinds over the past 40 years. But as interest rates climb and baby boomers retire, they’re gaining interest from Canadians. Annuities…

The article “How to claim a child’s income below the basic personal amount” was originally published in MoneySense on July 10, 2023. Photo by evgenyatamanenko from Getty Images. Even if a child’s earnings are exempt from income tax, they may be entitled to tax credits or deductions. Here’s how their…

Whether to include a pension in your net worth statement is up for debate. If you choose to do so, know there are a few ways it can be calculated. “I recently retired from the public service here in B.C. and have a defined benefit plan pension. Is there a…

The article “4 strategies for income splitting with a lower-income spouse” was originally published in MoneySense on June 26, 2023. Photo by Nataliya Vaitkevich from Pexels. If one spouse does not work, is it beneficial for the other to invest and buy stocks in their name? The tax implications depend…

The article “Should you transfer your DC pension plan to a discount brokerage?” was originally published in MoneySense on June 26, 2023. Photo by Ono Kosuki from Pexels. “I have been with the same employer for nearly 20 years and have participated in the company’s DC RPP for nearly that…

The article “What to do when you overcontribute to your RRSP” was originally published in MoneySense on June 19, 2023. Photo by Ono Kosuki from Pexels. If you’ve accidentally overcontributed to your RRSP, you’ll pay a tax penalty. Here are your options for promptly correcting the mistake. “I overcontributed to…

The article “What expenses can you deduct when renovating a rental property?” was originally published in MoneySense on June 13, 2023. Photo by Andrea Piacquadio from Pexels. The purpose of the renovations, as well as the occupancy of the building, can influence whether the expenses are tax deductible or not.…