Personal Finance
Planning successfully for retirement: CPA Financial Literacy volunteers share top tips
How much of a challenge would it be for you to save $756,000? How long do you think it would take you?
Nov 23, 2020
Personal Finance
Demystifying debt: CPA FinLit volunteer helps young people understand how to leverage debt to their advantage
Canadians recently reached a dubious high point – collectively, we have amassed $100 billion in credit card debt.
Nov 18, 2020
Personal Finance
Small steps have a big impact: Volunteer helps high school students improve financial literacy
As much as parents plan financially for their children’s future and offer tips on how to manage money, the time will come when young people will need to take ownership of their finances.
Nov 5, 2020
Personal Finance
Helping kids get financially smart for life: Volunteer stokes passion for real-world skills
“I wish I’d known how to start saving for retirement when I was young… I would’ve liked to have known how to draw up and keep to a budget... I would have benefited from an explanation of how to use credit cards properly…”
Nov 2, 2020
Personal Finance
What stays the same this school year? The importance of investing in RESPs
The new school year is well underway, and it’s a year drastically different from previous years. While the way children are being educated will continue to vary depending on COVID-19 measures, the importance of investing in registered education savings plans (RESP) remains constant.
Sep 30, 2020
Personal Finance
An overview of credits and benefits for persons with disabilities
For persons with disabilities, a variety of credits and benefits are available from the Canada Revenue Agency (CRA), as well as for the people who support or care for them.
Sep 23, 2020
Personal Finance
Planning during COVID-19
There’s no doubt that the COVID-19 pandemic has presented challenges when it comes to an individual or a business owner’s financial plan. Many people have relied on various government relief programs. It’s more important now than ever before to revisit your plan so that you can make short and long-term adjustments where necessary.
Aug 10, 2020
Personal Finance
Plan ahead to pay tax on the CERB
To date, approximately 1,100,000 people in BC have applied for the Canada Emergency Response Benefit (CERB), while over 8,245,000 people have applied for it nationally. Originally intended to last sixteen weeks, the CERB has been extended as COVID-19 continues to take a severe toll on employment and all parts of the economy.
Jul 23, 2020
Personal Finance
Family trusts: Recent changes and continued benefits
The last three years have seen significant changes in tax legislation. Private family businesses have felt the bulk of these changes, and many are still trying to digest the impact within their businesses.
Jun 3, 2020
Personal Finance
Tips to manage through a volatile market
There’s no doubt this is a worrisome time for investors and that it’s more important than ever to remain calm so that you can make clear and informed decisions about your portfolio.
Apr 5, 2020
Personal Finance
Time is running out to put money in your RRSP for 2019
Are you satisfied with how much you’ve contributed to your registered retirement savings plan (RRSP) in 2019? If you still want to contribute more, you can – but not for long.
Feb 14, 2020
Personal Finance
Could you benefit from a readvanceable mortgage? Here’s what you should know
Canadian homeowners often have two critical financial goals: pay off the mortgage and save for retirement. It is conventional practice in Canada to approach these two goals sequentially as most Canadians have a fixed amount of income each month and there is a contractual obligation to make monthly mortgage payments.
Feb 3, 2020
Personal Finance
RESP 101: How do RESPs work?
If you want to give a holiday gift that will positively impact a loved one’s life down the road, consider contributing to or getting them a registered education savings plan (RESP). When started early and contributed to regularly throughout the years, this post-secondary education savings fund can enjoy significant growth.
Dec 23, 2019
Personal Finance
RESP 101: What’s the difference between the 3 types of RESPs?
If you’re looking for a holiday gift that will benefit one of your loved ones far beyond the holiday season, a registered education savings plan (RESP) contribution may be the answer. But as the year draws to a close, time is running out to make an RESP contribution for this calendar year.
Dec 20, 2019
Personal Finance
Capital gains 101: How to calculate transactions in foreign currency
When you sell capital property, you must report the transaction in your personal income tax return – and there are benefits to doing so. Capital gains are taxed at half the standard rate, and capital losses can be used to offset capital gains.
Dec 19, 2019
Personal Finance
Capital gains 101: Using the capital gains tax to your benefit
It might seem early to start preparing for your 2019 personal taxes, but if you wish to sell capital property and apply the gains to your 2019 tax return, December 31 is the deadline for capital property transactions to be completed.
Dec 17, 2019
Personal Finance
Savings strategies for baby boomers
Baby boomers are the generation that “had it all,” with unprecedented opportunities for upward mobility.
Nov 12, 2019
Personal Finance
What would I tell my younger self? CPAs share their personal finance tips
Being a young professional is an exciting time in life. When someone graduates from their post-secondary studies, they begin a new chapter that may include embarking on a career, relocating to a new city, and enjoying new relationships.
Nov 7, 2019
Personal Finance
6 apps that’ll help keep track of your personal finances
Whether you’re managing debt, saving to buy a home or planning for retirement, figuring out your finances can make your head spin. Luckily, these apps (available for iOS and Android) can help you get a handle on things.
Oct 7, 2019
Personal Finance
Saving strategies for generation X
Between the baby boomer and millennial generations are the gen-Xers (now in their late 30s to early 50s), who grew up in interesting times. This is the ‘latch-key’ and the ‘MTV’ generation, often children of working parents.
Jul 29, 2019
Personal Finance
Saving strategies for millennials: The earlier the better
As an investment advisor, when I meet with my millennial and boomer clients I am often reminded of how much they can learn from each other: millennials, with their dynamic optimism to enjoy life in the now, and boomers, who can model the lessons and benefits of saving over time. But millennials (aged 22 to 37) do face some unique generational challenges.
Mar 31, 2019
Personal Finance
From candy to Bugattis - How to help kids embrace money matters
When is the right time to begin teaching kids about money? As an investment advisor, and as a father of two, I believe the earlier the better as it can help set young people up for financial success.
Nov 19, 2018
Personal Finance
Plan in advance: Leave a lasting legacy
Most of us would like to leave a lasting legacy; however, we may not know what steps to take to fulfil that goal. An advisor can help you assess the options and determine which ones are suitable to your situation.
Sep 12, 2018
Personal Finance
Assess and address - How to transition your business before retiring
As business owners near retirement, they may have questions about transitioning the business. For example, who is going to take over the company?
Jul 30, 2018
Personal Finance
Finding YOUR retirement investing strategy
The most pressing question that potential retirees ask me is: Will I have enough money to fund my retirement lifestyle? That’s why, it’s not surprising that in a recent survey, baby boomers expressed that they are more afraid of running out of money than they are of dying.
May 7, 2018
Personal Finance
Six things to remember when filing small business tax returns
If you’re a small business owner, there are a few key dates to keep in mind when it comes to taxes. If you’re a non-incorporated small business owner, April 30 is the deadline for you to pay any income tax that your business owes and June 15 is the deadline to submit your T1 return.
Apr 30, 2018
Personal Finance
Cryptocurrencies: Are they taxable?
With the price of bitcoin spiking in 2017, cryptocurrencies are gaining traction and moving into the spotlight of currency trading. If you jumped on the bandwagon and sold cryptocurrency (such as bitcoin or ether) in 2017, or made a purchase using cryptocurrency, you’ll need to report those capital gains on your tax return.
Mar 19, 2018
Personal Finance
Retiring? Evaluate these five investment risks first
Will I have enough money to retire comfortably? More and more, people nearing retirement have to confront this question.
Feb 21, 2018
Personal Finance
Maximize your TFSA savings
Believe it or not, the tax-free savings account (TFSA) has been around in Canada for nine years now. If you haven’t given much thought to it in the past or you’re just thinking about investing into a TFSA account, here are some things you’ll want to know.
Feb 14, 2018