Market and economic events impacting investment performance

Understanding and analyzing financial statements

Financial instruments: fixed income, equities, managed products, structured products, fee based accounts and derivatives

Company, industry and market performance/analysis

The portfolio management process and asset allocation

Setting financial goals, the financial planning process and taxation

Tax Planning | The goal of tax planning is to arrange your financial affairs so as to minimize your taxes. There are three basic ways to reduce your taxes, and each basic method might have several variations. You can reduce your income and take advantage of tax credits.

Tax Planning | Easy to understand and implement plan:

Reducing Income --- Net Income is a key element in determining your taxes. Lots of other things depend on your Net Income-- such as your tax rate and various tax credits. Net Income also impacts your financial life outside of taxes: banks and mortgage lenders do look at net income (Line 236) when applying for mortgage or loan.

Because your Net income is so important, you may want to begin your tax planning here. What goes into your net income? Net Income is your income from all sources minus any adjustments/ eligible expenses to your income. The higher your total income, the higher your adjusted gross income, results in higher taxes. The less taxable income you make, the less taxes you will pay. The best option to reduce your income is to contribute to RRSP, to the maximum room available.

If you have further query please contact Canada Insurance Plan.