From day one of our working years, through retirement and at death we pay income tax; so it goes without saying that it is important to plan to minimize tax whenever and wherever possible. If terms like tax brackets, tax credits, RRSP contributions and tax slips have you scratching your head, let us help and educate you.
How we can help with tax planning:
- Preparation and filing of personal income tax returns
- Determining the best investment vehicles for your tax situation, for example, what is the ideal amount to contribute to an RRSP to minimize the most tax.
- Look at cash flow in retirement with the most tax efficient method; questions such as when to start your employer pension, Canada Pension Plan (CPP), Old Age Security (OAS) and when to start drawing on your RRSP or RRIF.