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When I was growing up, we didn’t have seatbelts in our car. I remember going on long road trips and moving around in the car. While my father would drive through the night, I slept on the ledge in the back window while my brother and sister would sleep on the back seat. Mom would…

We were asked via our Facebook page if we could suggest a few financial habits to adopt this year, so we thought we’d use it to kick off the year as January’s newsletter topic. Do you have a good habit to add? Do you have a question we can answer in an upcoming newsletter? Please…

What is the real cost of living on borrowed money? Have we become a society addicted to debt? Based on some recent surveys, I would have to conclude that the answer is yes. For the last few years, RBC has conducted a debt poll. According to their survey, 38 per cent of those polled said…

With the end of the 2013 calendar year a mere few weeks away, we thought it an opportune time to remind our clients of deadlines which are fast approaching. Conversion of an RRSP to a RRIF If you turned 71 in 2013, you must convert your RRSP to a RRIF by December 31 of 2013.…

How do you envision your retirement? Do you see yourself as being rich or poor? Will you be self-sufficient or financially dependent on someone else? I imagine that for most retired (or nearly retired) people, you’ll have a better idea of what life will be like; but what if you’re 20 or 30 years away?…

Are you apathetic when it comes to financial advice? Apparently, if you own mutual funds, you are. At least that’s the conclusion of a recent survey conducted by the Investment Funds Institute of Canada (IFIC). I don’t think this is a huge revelation considering we all have different opinions, but what I do find interesting…

Is your financial plan just a bunch of numbers crunched to the point of no return? I often wonder if the general public has any idea about what really goes on within the financial services industry. When they take the step towards planning for their financial objectives, are they receiving the best advice available or…

Internet Passwords Although it may not be the first thing that comes to mind when drafting your will, leaving a list of passwords behind is very important. It can make the task of wrapping up your estate easier with less confusion and headaches. Without these passwords, something as simple as closing an account can cause…

Once you have incorporated your professional practice, your legal obligations do not end. You are required to file an annual return with your provincial corporate registry every single year. The deadline for filing this report varies by province or territory. In Alberta and the Yukon, you must file by the 31st of the month following…

Childcare Expenses There are many expenses that qualify for a tax deduction. Some of the most common ones are daycare and camps. In order to qualify for a deduction, the expense must be incurred to allow you to go to work. In addition, the CRA only allows it to be deductible against the lower income…