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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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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Locked-in Retirement Plans

 September 13, 2024 |Charles W. Cullen III
What happens to your employer pension plan when you leave your current employer? Typically, you will have a few different options to consider. This article walks through some of the considerations. For more information on what is best for your specific...
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U.S. Estate Tax, Canadians Owning U.S. Real Estate

 July 11, 2024 |Charles W. Cullen III
To escape the cold winters it is no surprise that many Canadians spend time in the U.S. If you are considering the purchase of your own property down south, it is important that you understand the tax implications of ownership during your lifetime and...
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Taxation of Canadian Registered Savings Plans for U.S. Persons

 July 04, 2024 |Charles W. Cullen III
There are a number of registered savings plans available to Canadian residents that provide tax and other benefits. For U.S. persons who have an interest in these plans, there may be punitive U.S. and / or additional U.S. filing requirements. To learn...
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Ten Strategies to Pay Less Tax in Retirement

 June 13, 2024 |Charles W. Cullen III
Are you approaching retirement or have you recently retired? To enjoy the next phase in your life, maximizing your retirement income can go a long way. To learn more, click below. For even more information, please reach out. Click Here
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CPP Retirement Pension Sharing

 May 30, 2024 |Charles W. Cullen III
Depending on your situation, it may make sense to pursue a strategy to share some of your CPP with your spouse to lower the overall marginal tax the couple is paying. For information on the rules, click below - to see if this makes sense for you, please...
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Alter Ego and Joint Partner Trusts for U.S. Persons

 March 28, 2024 |Charles W. Cullen III
Trusts are complicated. They becoming even more complicated when a U.S. person living in Canada opens a Alter Ego Trust or a Joint Partner Trust as they must be aware of both the Canadian and U.S. tax and estate planning implications. For more information...
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