Balanced Planning
“We measure our success by the success of our clients.”
Tax Prep
Helping achieve your financial goals through financial advice.
FAMILIES
We provide strategies to help families to accumulate and protect your wealth.
BUSINESS OWNERS
Strategies to help increase your personal cash flow, keep key employees and protect your business.
Latest News from Balanced Planning
TFSA vs RRSP – 2024
When looking to save money in a tax-efficient manner, Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP) can offer significant tax benefits. The main difference between the two is that TFSAs are ideal for short-term goals, such as saving for a down payment on a house or a vacation, as its growth is entirely tax-free, while RRSPs are more suitable for long-term goals such as retirement. When comparing deposit differences, TFSAs have a limit of $7,000 for the current year, while RRSPs have a limit of 18% of your pre-tax income from the previous year, with a maximum limit of $31,560. In terms of withdrawals, TFSAs have no conversion requirements and withdrawals are tax-free, while RRSPs must be converted to a Registered Retirement Income Fund (RRIF) at age 71 and withdrawals are taxed as income.
2024 Financial Calendar
Stay ahead in 2024 with our comprehensive financial calendar! From tax filing to benefit distributions, we guide you through key dates like the $7,000 TFSA contribution and $8,000 First Home Savings Account. Bookmark now for a financially savvy year!
2023 Year-End Tax Tips and Strategies for Business Owners
Maximize your tax benefits as a business owner in 2023! Learn key strategies for salary vs. dividends, passive investments, and more.
2023 Personal Year-End Tax Tips
Maximize your tax savings! Discover expert tips on investments, family deductions, retirement, and more in our latest article.
Investing as a Business Owner 2023
Many business owners have built up earnings in their corporation and are looking for tax efficient ways to pull the earnings out to achieve their personal and business financial goals. We outline the factors to consider when investing as a corporation.
Understanding Target Loss Ratio and Your Group Benefits Plan
Unlock the mysteries of your group benefits plan! Discover how the target loss ratio (TLR) can influence your premiums and what it means for your company’s future. Dive in now!