Ex's & Oh's Blog

Spousal Loans ~ Potentially saving Thousands!!!

I saved a client over $23,000 a year employing this strategy, a YEAR, in taxes!!!!!

OK, so....this is how it works.  You have to be married.  Your spouse has to be unemployed or have a big variance in income to employ this strategy.  It's a form of income splitting that is a way to...

Managing Debt ~ The mortgage difference.

The least expensive way to borrow money, if you own a home, is through your mortgage.  When your mortgage term is up you may want to look at some of the higher interest rate debt and lump it in with your mortgage.  With the amorization spread out over a longer period of time this would...

Tax-Effective Investing

Not all investments are created equal.  Some investments promise rates of return by the issuer (of the debt) and some have the promise of potential lofty returns (equities or stocks) but neither are they treated the same way by Canada Revenue Agency (CRA).  Marginal tax rates in Ontario dictate that income, dividends and capital gains...

Ruling assets from the grave?????

We work hard all of our lives to create wealth and procure materialistic objects of either need or desire but when is it time to divest of our live's work and worldly possessions?  What happens if something happens to you tomorrow?  Is your Will up-to-date?  What about your Powers of Attorney and Living Wills?

Understanding your pension plan….

If you are fortunate enough to have a pension you still have to understand how the stream of income works at retirement.  There are two basic pension plans, defined contribution pension plan (sometimes referred to as a money purchase pension plan) and a defined benefit pension plan. 

A defined benefit pension plan provides...

How to Divorce?????

Most people panic when they first divorce and their knee-jerk reaction is to hire a lawyer.  If you have never been through the divorce experience then talking to friends and searching the Internet become places for advice on where to turn.  Unfortunately, hiring your best friend's lawyer who you have heard is good because they...

Locked-In Retirement Accounts

Did you know that you may be able to 'unlock' your Locked-In Retirement Account (LIRA)?  Some people who have worked for a company for a period of time and left may have had a pension plan that they 'took with them' and deposited the funds into their own financial institution to manage on their own.  These...

Do YOU need a Financial Planner?

Of course I am biased, but I think everyone needs some financial guidance and the timing of the advice can be just as crucial.  My most dreaded appointments are with people who are about to retire and they haven't saved enough for retirement.  What a difficult thing to tell a person who is in their 60's!!!  Doing...

Estate Tax in Canada????

Well, not formally.......but one could argue that Canada Revenue Agency (CRA) hasn't exactly given up the gauntlet.

There are two things that are guaranteed in life, right? Death and taxes. When you get hit with the double whammy then some really interesting things start to happen. On...