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Use our Personal Income Tax Checklist to help you file your taxes in time

Canadian Personal Income Tax Checklist and Filing Due Dates for Your 2016 Tax Return

The personal income tax deadline for filing your return is typically April 30, however, because this date falls on Sunday this year, the CRA will consider you on time if it is received on or before Monday, May 1, 2017. Self-employed individual returns are due Thursday, June 15, 2017, however if any amounts are owing,

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Show me the Money

  -I recently came across an episode of CBC’s “Market Place” in which the producers used hidden cameras during visits to so-called “Financial Advisors”, most of these visits were at large reputable banks and financial houses.  (Here’s the link  http://www.cbc.ca/marketplace/m/episodes/2012-2013/show-me-the-money) -The documentary illustrates that sometimes so-called “financial advisors” are little more than sales people who

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Divorce? Not All Assets Are Equal – Tesia Brooks CFP CDFA

Not All Assets are Equal It is common with separating couples for one spouse to want to keep the family home while the other wants to keep their pension. I recently worked with a woman going through a divorce after 15 years of marriage. She had worked part time for the duration of the marriage

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Why Hire a CDFA – Tesia Brooks CFP CDFA

  Most people don’t go into a marriage or common-law relationship with the idea that one day we will get a divorce. Divorce is about loss of love and trust in your partner, shattered dreams and plans, making adjustments to lifestyle and money and a time of huge emotional turmoil leaving even the savviest lost

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What is a CDFA? – Tesia Brooks CFP CDFA

There is a new kid on the block in the world of professional designations. That new kid is called a Certified Divorce Financial Analyst (CDFA™). Many lawyers, mediators, and separated individuals are now seeking the services of a CDFA™. 100% of divorces involve financial settlements. To keep costs down and to preserve the family’s finances,

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Phil’s Learning Curve – Canada Pension Plan

– Our national public pension plan is the Canada Pension Plan (CPP) which covers everyone except residents in Quebec which, when the CPP was created in 1966 fought and won the right to create it’s own program. – Thinking about retirement, in a couple years or more? Everyone should know a few basics about pension

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Phil’s Learning Curve – Fiduciaries

– http://en.wikipedia.org/wiki/Fiduciary – A fiduciary is a legal or ethical relationship of trust between two or more parties. Typically, a fiduciary prudently takes care of money for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example

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Phil’s Learning Curve – Retirement – The Bad News!

  – 38% of Canadians expect to continue working after age 65 because they won’t have enough money to live on! – We just don’t save enough! In 1990 the average family put aside $8000.00 / year, a 13% savings rate. in 2010 average households set aside $2500.00 / year, a 4.2% rate. – More

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Phil’s Learning Curve – Who Do You Trust?

  .- Investors should find a trusted advisor to work with… good idea… the problem is, many of us don’t trust financial advisors, sometimes with good reason. Con-artists and ponzie schemes have ripped off governments, rookie and experienced investors alike for billions of dollars. – In a report called “A Decade of Financial Scandals”, the

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Phil’s Learning Curve – Retirement Reality Check!

  – Phil has a company defined benefit retirement plan, but he wasn’t really sure what that meant, though he heard through the company grapevine it would provide him with retirement two thirds his average income earned as an employee. – Phil assumed his company pension and Canada Pension Benefits along with some modest savings

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