Moving from Canada to the U.S.

November 28, 2024 |Charles W. Cullen III
There are many reasons why Canadian's find themselves moving to U.S. Regardless of the reason, it is important to be aware of the tax and estate planning issues that can arise as a result of your move as well as planning opportunities you may be able...
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Are You a U.S. Person Living in Canada?

November 21, 2024 |Charles W. Cullen III
The U.S. is one of the few countries in the world that levies tax on your worldwide income based on citizenship and residency status. An individual who's considered to be a U.S. person for U.S. income tax purposes, regardless of where they're living,...
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2024 Year-End Tax Planning for Individuals

November 14, 2024 |Charles W. Cullen III
As 2024 comes to a close, there are many items to cross off our "to do" list before 2025. One item that should not be overlooked is any opportunities to reduce your tax bill. To help ensure you leave no stone unturned, click the link. For even more information...
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RRSP Strategies at Age 71

November 07, 2024 |Charles W. Cullen III
Many are aware that in the year you turn 71 you must convert your RRSP to a RRIF. However, not as many are aware of the potential to use RRSP room generated during that final year. Click the link to find out how. As always, reach out for even more details!...
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Quarterly Tax Instalments

October 31, 2024 |Charles W. Cullen III
Very few enjoy paying tax. What can be even worse is being told you need to pay tax installments as a result of insufficient withholding tax. To learn how it works and the conditions where you are required to make tax installments, click the link. For...
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Pension Income Splitting

October 24, 2024 |Charles W. Cullen III
Many families have the opportunity to shift certain types of retirement income to a spouse who's taxed at a lower rate. This articles summarizes these rules, for a more detailed look at your situation, please reach out. Click Here
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Registered Retirement Savings Plan (RRSP) Maturity Options

October 17, 2024 |Charles W. Cullen III
For those that turned age 71 this year, you must convert your Registered Retirement Savings Plan (RRSP). There are several options you can pick from, each with their own benefits and drawbacks. For help deciding what option is best for you, please reach...
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Pension Income Tax Credit

October 10, 2024 |Charles W. Cullen III
For those age 65 or older, taking advantage of the pension income tax credit may make sense. To learn how it works, what income qualifies and how to structure your retirement holdings to take advantage of this credit, you can read this article. As always...
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Managing the Tax Impact of Realizing Significant Capital Gains in 2024

October 03, 2024 |Charles W. Cullen III
With the federal budget changing the inclusion rate for capital gains, people now more then ever are looking at potential strategies that may help mitigate and manage the impact. This article discusses some of these strategies - to see if they are applicable...
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RRIF Payments and Withdrawals

September 26, 2024 |Charles W. Cullen III
You have been saving all your life and it's time to withdraw from your Registered Retirement Savings Plan (RRSP). The first step is generally to convert it to a Registered Retirement Income Fund (RRIF). From there, you will than have minimum withdrawals...
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