The objective of tax planning is to minimize taxes as you acquire wealth, during your retirement income phase, and finally, with the distribution of your estate.
THE PROCESS, TOOLS, AND ROLE OF YOUR BLACKBURN DAVIS FINANCIAL ADVISOR
Tax planning involves the following:
- Utilizing the right investment vehicles, such as RRSPs, TFSAs, RESPs, RDSPs, and/or Cash Accounts at the right times
- Recommending and coordinating strategies with your tax advisor
- Ensuring the proper proportion of income from your respective retirement assets that maximizes government pensions and tax credits while minimizing tax
- Coordinating compensation for business-owners to take advantage of Holding Companies, Trusts, Individual Pension Plans (IPPs), and other strategies
- Minimizing tax in your estate
- Exploring the use of tax-sheltered life insurance products that maximize your estate values
I have worked with the BDF team with several mutual clients. What I am most pleased with is their use of the client’s other professionals such as accountant and lawyer. The result is a complete, thorough and integrated solution for the client’s needs and objectives. In all of the years that I have worked with the firm every client has been extremely pleased with the thoroughness and nature of the service provided by the team. I am very particular who I refer my clients to and without hesitation, they will continue to be on the top of my list, as I know that the client will be taken care of completely.