2023 Art Studio Tour
Discover the artists in your neighbourhood. Sponsored in part by Simplified Financial.
Don’t lose all your hard-earned money to taxes
It’s essential to manage your tax planning properly – both while you are living and for after your death. You want as much of your money as possible to go to your beneficiaries, not the government. Our article contains three tips to help you do that:
1. Learn how to make the most of the lifetime capital gains exemption.
2. Figure out ways to decrease your end-of-life tax bill.
3. Look into Immediate Financing Arrangements.
The Best Way to Buy Mortgage Insurance
Before buying insurance from your bank to cover your mortgage, please consider your options. What does the insurance cover?
TFSA versus RRSP – What you need to know to make the most of them in 2023
When looking to save money in a tax-efficient manner, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) can offer significant tax benefits. The main difference between the two is that TFSAs are ideal for short-term goals, such as saving for a down payment on a house or a vacation, as its growth is entirely tax-free, while RRSPs are more suitable for long-term goals such as retirement. When comparing deposit differences, TFSAs have a limit of $6,500 for the current year, while RRSPs have a limit of 18% of your pre-tax income from the previous year, with a maximum limit of $30,780. In terms of withdrawals, TFSAs have no conversion requirements and withdrawals are tax-free, while RRSPs must be converted to a Registered Retirement Income Fund (RRIF) at age 71 and withdrawals are taxed as income.
Most of us understand the benefits of sensible retirement planning but when it comes to actually creating your personal retirement strategy and putting it into effect it doesn’t feel quite as straightforward. The reality is that, while there are lots of variables to consider, it isn’t as difficult to create an effective plan for retirement as you may think.
Simplified Financial is Sponsoring – Maple Ridge Pitt Meadows Art Studio Tour
Join us over the Mother’s Day Weekend as artists from Pitt Meadows and Maple Ridge once again open our studios to the public. We are delighted to invite you to peek into our creative worlds. Get ready to be inspired!
Changes to EI Sickness Benefits – What You Need To Know
As part of Budget 2022, the federal government recently announced that EI sickness benefits would be extended from fifteen weeks to twenty-six weeks as of December 18, 2022. Read More…
2023 Financial Calendar
Welcome to our 2023 financial calendar! This calendar is designed to help you keep track of important financial dates and deadlines, such as tax filing and government benefit distribution. You can bookmark this page for easy reference or add these dates to your personal calendar to ensure you don’t miss any important financial obligations.
An Optimized Financial Plan
Whatever your financial objectives are, we are sure to have a range of potential initiatives that can benefit you. If you are serious about your financial security and future, allow us to help you to realize your dreams.