A case study using Tax reducing programs that will save you thousands this year and next year in income taxes that when combined with our Wealth creating strategies will significantly increase your cash flow.
BUY AN INSURANCE TAX SHELTER – The life insurance industry is a tax haven, and will likely always enjoy that status, because of all the special laws created just for it. You can spend time wondering why, or you can use their heavily favoured status to your advantage!
HOW CAN DEMOGRAPHICS HELP YOUR RRSPs GROW FASTER? Why are you investing your money in RRSPs? Most people do it to get the tax savings. But as the money starts to grow they then realize that having money grow for retirement is a good thing. It’s the old saying “Live for today but plan for tomorrow”.
HOW MUCH TAXES DO WE PAY? The percentage of tax that Canadians pay is completely outrageous. While some taxes appear to be reduced, others are increased and new ones added, to continually increase revenues for our politicians to squander.
HOW TO AVOID THE RRSP TRAP – TAX TIME BOMB? One of the biggest mistakes we make as investors is forgetting just how much TAX we will pay to CRA, if we continue to blindly add to our RRSPs without thinking about how much tax you are going to be faced with in retirement.