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Tax Saving Strategies for Sole Proprietors

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Sole proprietorship's are the most basic form of business organization. They are actually an extension of the person and are taxed as such. Due to its simplicity, many business start-ups begin as this form of organization. As your business grows, there are numerous taxation benefits to setting it up as a corporation. Speaking to a qualified financial professional can help you decide on the most…

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Divorce and Your Finances

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Canadian government statistics continually show that roughly half of all marriages end in divorce. If a couple is contemplating moving forward with a divorce, it is important to carefully consider how this event will affect their overall financial situation. Understanding how a divorce changes financial and estate plans can help reduce legal costs and reduce the complexity of an already-stressful…

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Are you a Retirement Savings Late Starter?

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Harry and Sally both earned high incomes and liked to live the good life. They leased higher end European cars, took two-week exotic vacations almost every year, and lived in a house much larger than they truly needed. To accomplish this lifestyle, they put off retirement savings. Now in their forties, Harry and Sally are realizing they have some catching up to do. Six things to consider are:…

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Warren Buffett Wisdom

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Investment icon Warren Buffet says there's wisdom in being "fearful when others are greedy and greedy when others are fearful." He first gave this advice in 1986 and has re-iterated it over the past few decades during times of financial uncertainty: 9/11 in 2001, the 2008 mortgage crisis, the 2011 Black Monday crash and the 2020 global pandemic. Relying on wisdom and courage - instead of fear -…

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A Short Conversation About Banks

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The recent tremors in the US banking system (collapse of Silicon Valley Bank - SVB) have caused some Canadians to question how developments in the US might affects their own savings. The key thing to understand is that there are BIG differences between Canadian and US banking systems. A Google search for "How many banks are there in the US?" reveals that there are over 4,000 FDIC insured…

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