My goal is to help you find creative solutions to reach your financial goals & cover your risks for the best value.
So together, we’ll look at your specific financial goals, understand what’s important to you, and find some creative solutions that will help make it easier to reach those goals and get more out of your hard-earned money.
This may include a combination of cash & asset management solutions, tax planning, estate planning, risk management & insurance solutions, optimizing benefits through your small business, maximizing benefits from government programs and other solutions that may be appropriate to meet your specific needs.
Losing your ability to earn income is the biggest risk to your family’s quality of life.
So covering that risk is a very important part of a financial plan that will help you get through some of life’s unexpected challenges.
For major illness and inability to work you’ll need a plan to cover the following, and preferably in a tax-efficient way so you don’t lose more of your savings on paying higher taxes. Expenses can include:
Covering your minimum obligations so you can avoid losing your home (mortgage or rent)
Paying for potential increases in medical and non-medical expenses
Replacing loss of income and bridge any gaps from employer disability income
Meeting debt and other financial obligations
Support recovery back to good health
Maintain lifestyle needs for the rest of the children/family
Continue saving for children’s education & your retirement plan
In the case of premature death of one of the parents, you will need to:
Cover your minimum obligations so you can avoid losing your home (mortgage or rent)
Support dependents & cover potential increased living expenses (for surviving parent/caregiver)
Meet debt and other financial obligations
Pay final expenses & final taxes
Cover estate taxes due on deemed disposition of assets
Leave money to children or grandchildren to help them as they build their future
Leave a gift to charity with optimized tax benefit to the estate
Establishing our client-advisor engagement.
Determining your goals and expectations.
Clarifying your present situation and identifying any shortfalls, issues or opportunities.
Reviewing & selecting options to cover your needs
Monitoring your plan and making adjustments if necessary.
Information on protecting your family’s future and ideas on saving taxes
Both TFSAs and RRSPs can be significant savings vehicles for your clients. We've put together an article to help your clients easily understand the differences between them – with one section focussing on differences in deposits and one focussing on differences in withdrawals.
The deposit section focuses on:
• How much contribution room is available each year.
• How carry forward works for TFSAs and RRSPs.
• Tax deductibility of contributions.
• Tax treatment of growth.
The withdrawal section focusses on:
• Conversion requirements
• Tax treatment of withdrawals
• Impact of withdrawals on government benefits
• Impact of withdrawals on contribution room
https://dytucofinancialservices.com/wp-content/uploads/2022/01/TFSA-vs-RRSP-2022.png281500Dytuco Financialhttps://dytucofinancialservices.com/wp-content/uploads/2016/10/Header-image-Medy-Different-Perspective-smaller.jpgDytuco Financial2022-01-28 06:00:302022-01-28 22:00:08TFSA versus RRSP – What you need to know to make the most of them in 2022
Looking for an "at a glance" document covering all the important dates you need to know to stay on track with your financial planning in 2022?
Our 2022 financial calendar (which you can easily bookmark or print out) makes sure you're always in the loop! It lists important dates, including:
• Payments dates for the Canada Child Benefit, CPP, OAS, and the GST/HST credit.
• When TFSA contribution room starts again.
• Tax filing deadlines.
• Charitable contribution deadlines and the last day to contribute to registered investment accounts.
• When the Bank of Canada interest rate announcements are.
On April 19, 2021, the Federal Government released their 2021 budget. Our article contains highlights of the various financial measures in this budget, divided into three different sections:
• Business Highlights, including an extension to COVID-19 Emergency Business Supports, new programs to support job creation, and a change in interest deductibility limits.
• Individual Highlights, including details on the tax treatment and repayment of personal COVID-19 benefits (such as CERB), eligibility changes to the Disability Tax Credit, an increase in OAS for those 75 and up, and support for job skills retraining.
• Additional Highlights, including a proposed federal minimum wage of $15, changes to the GST New Housing Rebate conditions, and new or increased taxes in areas such as luxury goods, tobacco, and Canadian housing owned by non-resident foreign owners.
Tax season is upon us once again. But since 2020 was a year like no other, the 2021 tax-filing season will also be different. Due to all the changes in both where and how Canadians worked, the Canadian government has introduced some new tax credits and deductions to keep pace with these changes. Our article covers all of the following:
• How to claim home office expenses
• The new Canada Training Credit
• Pandemic emergency funds
• New digital news subscription tax credit
https://dytucofinancialservices.com/wp-content/uploads/2021/04/Whats-new-for-the-2021-tax-filing-season_.jpg281500Dytuco Financialhttps://dytucofinancialservices.com/wp-content/uploads/2016/10/Header-image-Medy-Different-Perspective-smaller.jpgDytuco Financial2021-04-27 14:09:002021-04-27 21:24:03What’s new for the 2021 tax-filing season?
On Friday, February 19, 2021, Prime Minister Justin Trudeau announced an extension to:
- Canada Recovery Benefit
- Canada Recovery Caregiving Benefit
- Canada Recovery Sickness Benefit
- Employment Insurance
https://dytucofinancialservices.com/wp-content/uploads/2021/02/COVID-19-Benefits-extended.png281500Dytuco Financialhttps://dytucofinancialservices.com/wp-content/uploads/2016/10/Header-image-Medy-Different-Perspective-smaller.jpgDytuco Financial2021-02-22 14:09:462021-02-22 23:39:16Extended COVID-19 Federal Emergency Benefits
Here are some interesting links for you! Enjoy your stay :)