Service Description

At 𝐓𝐞𝐧𝐚𝐜𝐢𝐨𝐮𝐬 𝐖𝐞𝐚𝐥𝐭𝐡, we tailor tax optimization strategies to minimize liability & boost cash flow. By aligning with your goals and financial situation, we implement solutions that keep more of your money working for you. In Canada, several strategies help reduce taxes while maximizing wealth growth. 𝐊𝐞𝐲 𝐓𝐚𝐱 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: 1. 𝐈𝐧𝐜𝐨𝐦𝐞 𝐒𝐩𝐥𝐢𝐭𝐭𝐢𝐧𝐠 Shifting income among family members in lower tax brackets can reduce overall household taxes. Strategies include spousal loans, prescribed rate loans, and dividends to adult children. 2. 𝐓𝐚𝐱-𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐝 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 a) RRSP (Registered Retirement Savings Plan): Contributions are deductible and grow tax-deferred until retirement. b) TFSA (Tax-Free Savings Account): Investment growth and withdrawals are fully tax-free. c) FHSA (First Home Savings Account): Contributions and growth are tax-free, helping first-time buyers save efficiently. 3. 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐓𝐚𝐱 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 For business owners, incorporating or using corporate structures can reduce personal tax exposure. Strategies include: a) Holding income inside a corporation to defer personal taxes b) Paying dividends instead of salary c) Using corporate-owned insurance to fund succession planning and reduce tax liability 4. 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐆𝐚𝐢𝐧𝐬 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 Taking advantage of the Lifetime Capital Gains Exemption (LCGE) for qualified small business shares or eligible farm and fishing property can shelter substantial gains from taxation. 5. 𝐂𝐡𝐚𝐫𝐢𝐭𝐚𝐛𝐥𝐞 𝐆𝐢𝐯𝐢𝐧𝐠 & 𝐃𝐨𝐧𝐚𝐭𝐢𝐨𝐧𝐬 Donating publicly traded securities or contributing to registered charities provides tax credits while supporting causes you care about. 6. 𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐈𝐧𝐜𝐨𝐦𝐞 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 Careful planning of withdrawals from RRSPs, RRIFs, TFSAs, and pensions can minimize tax impact while optimizing cash flow in retirement. 7. 𝐄𝐬𝐭𝐚𝐭𝐞 & 𝐖𝐞𝐚𝐥𝐭𝐡 𝐓𝐫𝐚𝐧𝐬𝐟𝐞𝐫 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 Using insurance, trusts, or corporate structures to transfer assets efficiently can reduce estate taxes and preserve family wealth for future generations. We integrate these strategies into a comprehensive tax optimization plan tailored to your circumstances. Our goal is to help you reduce taxes, protect your wealth, and enhance cash flow, so you can focus on building a secure and prosperous financial future.