Most people think of life insurance as a necessary expense. It’s something that you almost begrudgingly pay for, in the hope that you’ll never need it, but with the expectation that it will protect your family’s finances, should the worst happen.
In the third quarter of the year, higher interest rates and U.S. Treasury yields had a significant impact on U.S., Canadian and international equities.
If you die without leaving a will, it could become a major headache for your family members and loved ones. With no will, the government will decide on who gets your money and assets, and every province and territory have their own distinct intestate rules regarding who will benefit from your estate.
Determining the value of your business is a crucial step when considering selling. The valuation process can be complex, involving both quantitative assessments and qualitative judgments. This article guides medium-sized business owners on how to value their businesses.
Succession planning requires identifying and developing potential leaders within your organization who can step into critical roles when current leaders leave, retire, or otherwise can't perform their duties. Here are some reasons why it's vital.
Selling a business is a significant decision, often marking the culmination of years, if not decades, of hard work, perseverance, and dedication. The process can be complex and emotionally charged, and being well-prepared is key to ensuring a smooth transition and achieving the best possible outcome. This article will provide a detailed checklist to help guide medium-sized business owners through the necessary steps in preparing for the sale of their business.
If you owned a residential property in Canada on December 31, 2022, you might have to pay an Underused Housing Tax (UHT) if it was vacant or underused. Even if you’re not subject to tax, you may be required to file an Underused Housing Tax return to claim an exemption.
On Tuesday March 28, 2023, Deputy Prime Minister and Minister of Finance Chrystia Freeland presented the 2023 federal budget, which contains several measures of interest to IG Wealth Management and its clients.
According to a recent Stats Canada report, almost 1.4 million Canadian households reported having property rental income. That’s a significant portion of the population.. Given that rents increased on average across Canada by 11% in 2022 (and by considerably more in big cities, such as Toronto and Vancouver), it’s understandable why investing in property is so popular.
It’s tax season, a time when many people’s thoughts turn towards their tax refund and what they’ll do with it. Should you put it towards your mortgage, add it to your RRSP or make a TFSA contribution? While many financial institutions often recommend one of those options, we might suggest a different one: don’t get a tax refund at all.
Tax preparation season is a good time to take a look at your unincorporated business and consider whether you should consider changing its status. If you don’t need all of your business’s income for your personal needs, it could make sense to incorporate it. In this article, we examine the different kinds of business ownership, the types of tax advantages and savings that can come with incorporation, and whether it might be a valid option for your business.
When it’s time to retire, many Canadians have several sources of income. We look at which sources you should draw from first to help minimize taxes.