183 Day Rule

183 Day Rule

Do you migrate south to avoid the cold, harsh Canadian winters?

As a snowbird, there are numerous United States tax policies that you should be aware of. If you are not mindful of these tax regulations, you could be responsible for paying U.S. income tax or face penalties for not filing a U.S. tax return. The amount of time you spend in the U.S. could also have implications on your eligibility for Canadian health care.

Tax Planning Strategies For Sole Proprietors

Tax Planning Strategies For Sole Proprietors

Due to the current economic climate and massive layoffs, many individuals are establishing home-based businesses. Some are following a long-held dream to “run their own show” while others are just trying to make a living. Whatever the circumstances, effective tax planning is critical to getting the most from your efforts.

This is Love...

The basic motivation behind the purchase of life insurance is love.

You want to protect your loved ones, and one of the best ways to do that financially is with life insurance.

There are so many ways you can show that you care: with a multitude of gestures—large and small—all constitute love, including the purchase of life insurance.

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Show your love and consideration when you assure your loved ones are comfortably taken care of in the event of your passing.

Avoid the ‘Boomer-Widow’ Financial Syndrome

Avoid the ‘Boomer-Widow’ Financial Syndrome

It is seldom planned or wished for, but it is a reality and something that requires discussion - the illness and/or death of a spouse or partner. As the so -called Baby Boomer generation ages, there is a marked increase in widowers suddenly left with financial situations that they do not fully understand. There are others that are forced to financially self-educate while providing quality of care for a partner that previously, and perhaps solely, took care of that role.

Financial & Estate Planning for Common-Law Couples

Financial & Estate Planning for Common-Law Couples

According to the Statistics Canada website, common-law relationships are more likely to fail. The General Social Survey issued by Statistics Canada in July 2002 illustrates that common-law unions are twice as likely to end in separation as marriages and these relationships are far more common today than they were over a decade ago.