“Why not both?” This is the answer the wife gives to her husband when he asks whether they should install an indoor or an outdoor hot tub. Perhaps you recall that commercial from one of the major providers of reverse mortgages in Canada. While the...
Read MoreI have sometimes heard it said, “There’s no point in earning extra income; it’s just going to be taxed away.” Oddly enough, no one seems to turn away a raise. Graduated vs. Flat Tax Canada has a graduated income tax regime. This means that the more you...
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Canada welcomes significant numbers of immigrants each year. However, many people choose to leave Canada for other countries, too. I have relatives and friends who live in the United States, Japan, and Australia, to name just three countries. I lived in Japan myself for a...
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In a few days, my oldest child will get married. There are at least two consequences of this impending event: 1. I will take a break from writing a blog post next week. 2. This blog post. There are certainly more consequences that are much more...
Read MoreYou are a 75-year-old woman. Your husband of 50 years has just died, the funeral has been held and he has been buried. In the middle of this grief and loneliness, you remember that you had named each other as executors in your respective wills....
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As I write this in late spring, this is the season when graduating students are transitioning from the academy to employment. Many financial matters that may have previously been taken care of, or at least “backstopped,” by parents are now their own to address. If...
Read MoreLiving in Canada, it is almost impossible to ignore the United States. It is bigger than us in almost every way, except geography. Arguably, the U.S. has more influence over the world than any other nation and has maintained that influence for decades. The size, influence,...
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An Introduction to Tax Planning – Part 5 The numbers of people who are applying for Employment Insurance (EI) and the Canada Emergency Response Benefit (CERB) and other supports that the government has rolled out in recent weeks are just staggering. Perhaps, like me, the figures...
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An Introduction to Tax Planning – Part 2 “Oh, man! What is this guy talking about? He’s calling people losers and then he is suggesting a way to take advantage of them!” Let me explain. First of all, I am not calling *people* losers. Second, this...
Read MoreAn Introduction to Tax Planning – Part 1 Financial Planning and Taxation As much as we might like to deny it, taxation is an integral part of financial planning. Indeed, taxation can often be a Canadian household’s biggest single expense. Think about all the areas in life...
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