We refer clients to Nicola Wealth for Private Wealth Management because of their track record of excellence and performance with portfolio management. Below is a communique I received from them today on my portfolio and I wanted to share it with you. If you aren’t getting this level of service and expertise, please let us know and we will refer you to one of their specialists. Elliott ** In the coming months, you and/or your accountant will be preparing to…
How are your assets & corporate investments are taxed
2021 has been a difficult year. Thanks to the amazing care from the team of physicians and staff at SickKids, Nathan can spend the holidays at home with his family. In 2019, we partnered with SickKids Hospital to match donations that were made on the last two days of the year. We are very excited to share that we will be doing this again in 2021! All donations on Dec. 30th and 31st are being tripled. Please join us in…
If you could talk to your future self, can you imagine saying “I wish I bought less?”
Life insurance – how much is enough?
With COVID-19, clients have experienced drastic volatility with their stock portfolios. Businesses are closing, unemployment is rising, professionals (dentists, surgeons, specialists) are out of work or dealing with drastically reduced hours. Some clients are asking about their Participating Whole life insurance (PAR) amidst this crisis. Specifically, the viability of companies such as Sun Life, how the Sun Life PAR portfolio is invested and how this portfolio has held up during times of uncertainty. First we will look at the…
Life insurance can be a core strategy for retirement savings TIM CESTNICK SPECIAL TO THE GLOBE AND MAIL PUBLISHED JANUARY 30, 2020 In 2001, Carey McWilliams obtained a permit in North Dakota to carry a concealed weapon. The thing that makes his story so unusual is that he’s legally blind. Mr. McWilliams had satisfied the state’s shooting test by hitting a human-sized target 10 times out of 10 from a distance of 21 feet, or 6.4 metres. Today, he has…
Insurance is an asset not an expense
A health spending account is a private health service plan that offers the reimbursement of a wide range of qualifying medical expenses provided by a medical practitioner or pharmacist. The account is flexible, as it can be set up as a stand-alone plan or it can supplement an existing group or personal health insurance plan. The flexibility of the account and the ability to take personal expenses and make them into a corporate deduction makes an HSA an attractive benefit…
As we make our way through the fall season, one area we noted physicians have been “cleaning up” is their taxes and terminal planning. First, we help you understand what happens to your estate when you pass away and then how to redirect assets through your medicine professional corporation tax free. WHAT HAPPENS TO YOUR ASSETS WHEN YOU PASS AWAY? Upon death, you are deemed to have disposed of assets at their market value at the time of death. The…