An RRSP is a great way to save on tax. We have others.
Strategies for saving on tax are a key part of a financial plan.
Our Investment Planning Advisors* can recommend different ways to save on tax. We often work with dentists' accountants to coordinate tax strategies within a comprehensive financial plan.
These are some of the strategies we may consider based on your individual situation:
|Take full advantage of registered accounts (RRSP, TFSA, RESP)||The government provides these plans to encourage saving—make sure you use them.|
|Utilize insurance||There are solutions to manage earnings in your corporation and reduce tax transferred to your heirs.|
|Pay yourself wisely||There are advantages and disadvantages to receiving a salary or dividends, or both. We can help you make the right choice.|
|Withdraw cash tax-effectively||Your financial plan will coordinate withdrawals from many sources when you retire.|
|Create a tax efficient corporate structure||You can shelter retained earnings with a sister or holding company.|
|Reduce tax for your heirs||Permanent insurance, trusts, and corporate structure options are all potential tactics in a well-constructed estate plan.|
Book a meeting to find out how we can help you reduce tax.
* Advisory services are provided by licensed advisors at CDSPI Advisory Services Inc. Restrictions may apply to advisory services in certain jurisdictions.