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Category: Charitable Gifting

Personal Tax Planning Tips – End of 2020 Tax Year

December 2, 20202020 Only, Blog, Charitable Gifting, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Coronavirus - Students, disability, Disability Insurance, Family, financial advice, Financial Planning, health benefits, pension plan, RDSP, Registered Education Savings Plan, RRSP, Tax, Tax Free Savings AccountAbility Private Wealth

To help our clients, we’ve put together a comprehensive article filled with great tips on how to get ready for 2020 tax season. Here’s a summary of our personal tax tips article:

• Details about the different COVID-19 benefits programs and the tax ramifications of them

• Information about family tax issues including the Canada Child Benefits and tips on how to split income.

• Managing investments. Details about contributing to various savings plans such as a TFSA, RESP, or RDSP. Also tips on how and when to donate to charity and how to time the purchase or sale of investments.

• Retirement planning. How to make the most of your RRSP, things to know if you’ve turned 71, and tips on RRIF conversion.

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Getting the best from a financial advisor

June 1, 2018Blog, Business Owners, Charitable Gifting, corporate, disability, Estate Planning, Family, Group Benefits, health benefits, Individuals, Investment, Life Insurance, Long Term Care, pension plan, Retirees, RRSP, Tax, Tax Free Savings Account, Travel InsuranceAbility Private Wealth

Working with a professional to help you to make sense of your finances can be a wise move, but for this relationship to work effectively it is important that you understand what to expect from your financial advisor.

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How to Make the Best of Inheritance Planning

May 1, 2018Blog, Charitable Gifting, Estate Planning, Family, InvestmentAbility Private Wealth

Inheriting an unexpected, or even an anticipated, lump sum can fill you with mixed emotions – if your emotional attachment to the individual who has passed away was strong then you are likely to be grieving and the thought of how to handle your new-found wealth can be overwhelming and confusing but also exciting. One of the best pieces of advice in this situation is to give yourself some time before making any binding financial decisions. The temptation to quickly put the money to so-called ‘good use’ or to rush out and spend it can be strong but you must allow the news to sink in and also take some time to consider your options before you embark on the process of dealing with the inheritance. In the short term, put the money away in a high interest savings account and take time to research and think carefully about your financial goals and objectives and how this inheritance can help you to secure and maximize your financial future in the best way.

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Tax Lines to look out for

March 6, 2018Blog, Charitable Gifting, disability, Family, Individuals, Investment, Retirees, RRSP, TaxAbility Private Wealth

It’s that time of year again, when many of us sit down to complete our income tax return and hope that we have done enough preparation to ensure a smooth and speedy process. Unfortunately, there are a number of complexities that can cause us problems – here are a few of the most common issues experienced by individuals when submitting their tax returns

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Recent Posts

  • Five Ways To Withdraw Money From Your Business In A Tax-Efficient Manner
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  • 2022 Ontario Budget Highlights
  • 2022 Federal Budget Highlights
  • 2021 Income Tax Year Tips

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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

  • Five Ways To Withdraw Money From Your Business In A Tax-Efficient Manner
  • Permanent versus Term Life Insurance – What are the Differences?
  • 2022 Ontario Budget Highlights
  • 2022 Federal Budget Highlights
  • 2021 Income Tax Year Tips

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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.

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