Tax-Free Savings Account (TFSA)

Jan 21, 2022 |Charles W. Cullen III
A new year means a lot of things including additional TFSA contribution room. Check out this article to make sure you are maximizing your after tax returns. Click Here
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Prescribed Rate Loan Annual Interest Payments due by January 30th

Jan 13, 2022 |Charles W. Cullen III
Prescribed Rate Loans can be a very effective strategy to transfer portfolio earnings from a higher earning spouse to a lower earning spouse. Interest payments are due each year by Jan 30th. Click Here
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Early 2022 Tax Tips

Jan 07, 2022 |Charles W. Cullen III
When the end of the year approaches, many individuals place a greater focus on tax planning to minimize their income tax liability. Beyond the end of year, however, there are some areas of tax planning that often get overlooked. For example, there are...
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Determining Your Tax Residency Status in Canada

Nov 30, 2021 |Charles W. Cullen III
The Canadian income tax system is based on Canadian residency status. A common misunderstanding is that it is based on citizenship or immigration status. You may actually be considered a resident of Canada for income tax purposes even if your are not...
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Are you thinking of leaving the U.S. tax system?

Nov 11, 2021 |Charles W. Cullen III
From a tax prospective, as U.S. citizens, even though we currently reside outside of the U.S., we are subject to the U.S. tax system. This may result in certain U.S. income tax obligations, even if we don't earn U.S. source income. Renouncing U.S. citizenship...
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Moving from Canada to the U.S.

Nov 04, 2021 |Charles W. Cullen III
I regularly have clients who move from Canada to the U.S. We help their planning before they move and after they move. Please call us with any questions to see if we can help. Click Here
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Transferring a Bonus to Your RRSP Without Withholding Tax

Oct 28, 2021 |Charles W. Cullen III
If you receive a bonus or other lump sum payment as part of your compensation, and you have RRSP contribution room, considering asking your employer to pay the amount directly into your RRSP without withholding tax. This article explains how this can...
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Capital Losses and Tax Loss Selling

Oct 15, 2021 |Charles W. Cullen III
Sometimes you may realize a capital loss on the sale of your securities or you may own securities in a loss position. This article summarizes the tax rules and opportunities surrounding capital losses that you have realized or may realize in your non-registered...
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Canadians Investing in Publicly Traded U.S. Securities

Oct 01, 2021 |Charles W. Cullen III
Since Canada represents only a small percentage of the world's economy, many Canadians invest in the U.S. stock market to diversify their portfolios. As a result, it's important to have a general understanding of the tax issues associated with such investments...
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Establishing an RESP

Sep 27, 2021 |Charles W. Cullen III
With the high cost of post-secondary education, many parents and other family members recognize the need to save for the future expenses. That's why the registered education savings plan (RESP) is such a popular savings vehicle. Not only is the tax on...
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