While there might be general tips that can help people manage taxes, ultimately your financial journey is deeply personal. Successful tax planning MUST take a customized approach to be truly effective. We can’t wait to connect with you and begin the first steps, with your own personalized 360 Financial Blueprint.
In the meantime, here are a few generalized considerations that can help you lower your tax bill:
- Child tax benefits
- Leverage business and investment options
- Income splitting
- Consider Capital Gains instead of Interest income
- Use up your RRSP room
- Take advantage of TFSA
- Charity contributions
- Avoid unethical and illegal schemes
- Know your marginal tax rate vs your average tax rate
- Know the tax rules changes in advance
