tax Archives - Page 4 of 8 - Legacy Wealth Advisors

Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

by Legacy Wealth | Dec 7, 2020 | Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, corporate, disability, Financial Planning, rdsp, tax

On November 30, Finance Minister Chrystia Freeland provided the government’s fall economic update. The fall economic update provided information on the government’s strategy both for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve...

Personal Tax Planning Tips – End of 2020 Tax Year

by Legacy Wealth | Dec 2, 2020 | 2020 Only, Blog, Charitable Gifting, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Retired, Coronavirus - Retiring, Coronavirus - Students, disability, Disability Insurance, Family, Financial Advice, Financial Planning, health benefits, pension plan, rdsp, Registered Education Savings Plan, rrsp, tax, Tax Free Savings Account

Now that we are reaching the end of the tax year, it’s an excellent time to review your finances. We’ve listed below some of the critical areas to consider and provide you with useful guidelines. We have divided our tax planning tips into five sections:...

Tax Loss Selling

by Legacy Wealth | Apr 1, 2020 | 2020 Only, Blog, Coronavirus, Investment, tax

Over the last few weeks, the financial market has taken a downturn amidst fears over Coronavirus. Understandably, you are concerned with your portfolio, it’s important to stay level-headed to avoid making financial missteps. However, staying level-headed doesn’t...

Comparing TFSAs and RRSPs – 2020

by Legacy Wealth | Jan 30, 2020 | 2020 Only, Blog, Family, individuals, Investment, Retirees, rrsp, tax, Tax Free Savings Account

If you are seeking ways to save in the most tax-efficient manner available, TFSAs and RRSPs can both be effective options for you to achieve your savings goals more quickly. However, each plan does have distinct differences and advantages / disadvantages. We’ve...

RRSP Tax Savings Calculator for the 2019 Tax Year

by Legacy Wealth | Jan 21, 2020 | Blog, tax

RRSP Tax Savings CalculatorRRSP Deadline: March 2, 2020This is the deadline for contributing to your Registered Retirement Savings Plan (RRSP) for the 2019 tax filing year. You generally have 60 days within the new calendar year to make RRSP contributions that can be...