As part of the federal tax changes which came into effect January 1, 2020, there is an increase in the basic personal which is being phased in over four years until it reaches $15,000 in 2023. For 2020 the exemption amount increased to $13,229 … [Read more...]
Just for Doctors Newsletters
23
Dec, 2019 When Your TFSA Income Becomes Taxable
December 23, 2019 by
The TFSA is a great choice to build wealth because the income accumulates tax-free. However there is one instance when the income inside the TFSA becomes taxable, and that is on US dividend stocks. Under US tax law, there is a 30% withholding tax on … [Read more...]
23
Dec, 2019 A Portfolio With a Crazy Low Management Fee of 1/10 of 1 Per Cent
December 23, 2019 by
Management fees can take a big bite out of your investments. $100,000 invested for 20 years at 8% will yield $470,000. With a 2% management fee, the investment shrinks to $325,000, a drop of $145,000 or 30% of the portfolio. You are basically … [Read more...]
10
Dec, 2019 The Best Book on Investing Ever Written
December 10, 2019 by
The greatest practical investment thinker and one of the best investors was Benjamin Graham. When the book; " The Intelligent Investor” was first published in the 1950s, it was hailed as the best book about investing to the general public ever … [Read more...]
10
Dec, 2019 Charitable Giving Costs Less Than You Think
December 10, 2019 by
Making a donation before December 31, 2019 not only benefits your favourite charity but also reduces your income taxes. The amount of tax savings depend on whether you make a cash donation or a gift of assets, including the securities, artwork or … [Read more...]
24
Nov, 2019 Year-End Tax Saving Strategies for Doctors
November 24, 2019 by
As we approach the year-end, there is no better time than now to compile your checklist of tax saving strategies to reduce your income tax bill for 2019. Reduce tax on shareholder draws If you took large draws from your corporation, … [Read more...]
24
Nov, 2019 How Much Retirement Income Do You Need?
November 24, 2019 by
In order to provide the best possible advice to clients, a financial planner needs to take into account: What should be the asset allocation for the particular client? How much income can the client safely withdraw to ensure that the … [Read more...]
12
Nov, 2019 Top 7 financial mistakes doctors make (and how to avoid them)
November 12, 2019 by
Dr. James Dahle is a practising emergency physician in the US and the author of “White Coat Investor”, a popular financial guide for doctors. In one of his blogs he lists the big mistakes doctors make in handling their finances. Poor debt … [Read more...]
30
Oct, 2019 Five Habits of Successful Investors
October 30, 2019 by
Poor investment returns can be blamed largely on investor behaviour rather than the performance of the investment. According to the research, investors deserve the blame because they lack the discipline and patience to weather stock market … [Read more...]
30
Oct, 2019 Splitting Income Means Big Tax Savings
October 30, 2019 by
When you are in the 50% tax bracket, shifting income to a family member with a 20% tax rate, could generate a 30% tax saving. So, it would seem to make sense to transfer as much income as possible to your spouse and children. Of course, it isn’t that … [Read more...]
