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Blog

2023 Financial Calendar

January 1, 2023Ability Private Wealth

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.

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2022 Year End Tax Tips and Strategies for Business Owners

December 6, 2022Ability Private Wealth

The end of 2022 is quickly approaching – which means for business owners, it’s time to review tax tips and strategies to maximize your benefits.

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2022 Personal Year-End Tax Tips

December 5, 2022Ability Private Wealth

The end of 2022 is quickly approaching – which means it’s time to get everything in order, so you’re ready when it comes time to file your taxes.

We’ve broken this article into the following sections to make it easy to find the tax tips you’re looking for:

• Investment considerations, including how to best contribute to TFSAs, RRSPs, and RDSPs.
• Families, including how to claim childcare expenses and make the most of RESPs.
• Retirees, including essential details about applying for CPP and OAS.

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Estate Planning for Blended Families

December 1, 2022Ability Private Wealth

Blended families – where two people get married but have children from previous relationships – are becoming more common. On top of the day-to-day challenges of blending a family, new spouses also have to figure out how to plan their estates, so everyone is properly taken care of.

We cover all of the following a blended family must consider while estate planning:
• Sharing the Family Home
• Make the Most of a Registered Retirement Savings Plan
• How to Share Non-Registered Investments and Other Assets
• Why It’s Important to Select a Good Trustee
• The Advantages of Life Insurance for Blended Family Planning

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Insurance Planning for Incorporated Professionals

November 1, 2022Ability Private Wealth

For incorporated professionals, making sure your business is financially protected can be overwhelming. Incorporated Professionals face a unique set of challenges when it comes to managing risk. Insurance can play an important role.

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The Five Steps to Investment Planning

October 3, 2022Ability Private Wealth

An investment advisor can help you figure out what the right investment choices are for you.
The five steps to investment planning are:
• Meeting your investment advisor
• Determining your goals and expectations
• Developing your investment plan
• Implementing your investment plan
• Monitoring the plan
The sooner you start planning for retirement, the sooner you can get there! An investment advisor can help you get there quicker.

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Financial Planning For Self-Employed Contractors

September 1, 2022Ability Private Wealth

Being a self-employed contractor can bring you a large cash flow and the satisfaction of being your own boss – but it can also make financial planning more complicated than being an employee.

When creating a financial plan, Self-employed contractors need to keep a number of items in mind. Read to find out!

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Don’t lose all your hard-earned money to taxes

August 1, 2022Ability Private Wealth

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.

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Five Ways To Withdraw Money From Your Business In A Tax-Efficient Manner

July 5, 2022Ability Private Wealth

You have worked long and hard to build up your business, and now you are ready to withdraw money from your business’ bank account. But you don’t want to get hit with a huge tax bill. So here are 5 ways to withdraw money from your business in a tax-efficient manner.

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Permanent versus Term Life Insurance – What are the Differences?

June 2, 2022Ability Private Wealth

You know you need life insurance – but you’re not sure which kind is best for you. There are two main kinds of life insurance:
• Permanent, which lasts for your entire life. Premiums can be more expensive, but you can also use the policy to build up cash value.
• Term, which is only good for a set amount of time. Premiums are less expensive, and you cannot build up cash value – but coverage is easy to get and understand.
We can help you determine which type of insurance is best for you and how much it will cost you.

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Recent Posts

  • 2023 Financial Calendar
  • 2022 Year End Tax Tips and Strategies for Business Owners
  • 2022 Personal Year-End Tax Tips
  • Estate Planning for Blended Families
  • Insurance Planning for Incorporated Professionals

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Contact Us

Derrick Lee-Shanok

derrick@abilitypcg.com

margareth@abilitypcg.com

416-875-1836

1-877-940-7377

416-860-7550

1500 Don Mills Rd. Suite 400 Toronto, ON M3B 3K4



Recent Articles

  • 2023 Financial Calendar
  • 2022 Year End Tax Tips and Strategies for Business Owners
  • 2022 Personal Year-End Tax Tips
  • Estate Planning for Blended Families
  • Insurance Planning for Incorporated Professionals

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We believe in empowering our clients to participate in the creation and maintenance of their overall financial well being through proper education and ensuring an understanding of the possible outcomes involved in each decision.

Mutual funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.

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