RRSPs 101

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An RRSP is a retirement savings account available to any Canadian individual taxpayer under the age of 72 and to which they or their spouse/common-law partner can contribute — subject to their respective deduction limits.

Understanding the RRSP Deduction Limit Statement

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The RRSP deduction limit outlines how much an individual can contribute Groupand deduct for personal tax purposes (plus the cumulative $2,000 overcontribution allowance). RRSP contributions are the amounts individuals have deposited into their RRSPs and which may be deducted for income tax purposes.

Real Estate and U.S. Taxes: The Cost of Ownership

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For many Canadians who are not otherwise U.S. persons (“Canadian”), owning property in the U.S. may represent an investment opportunity, a home away from home and an escape from the colder winter months.

Naming Your Executor: Friend or Pro?

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A key element of estate planning is choosing an executor, someone you trust to carry out the instructions in your will. To ensure that the administration of your estate is completed efficiently and economically, it’s important to carefully evaluate your needs and choose your executor wisely.

Canadian Snowbirds and U.S. Taxes: Avoiding Turbulence

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Canadian residents who routinely fly south to escape the cold winters at home may not be aware that they could face U.S. tax consequences. This article looks at how spending extended periods in the U.S. can subject Canadians who are not otherwise U.S. taxpayers (i.e. U.S. citizens or green card holders) to U.S. taxes and how they can limit their exposure to such.