The Importance of Maintaining Muscle Mass as We Age: A Guide for People in Their 60s Aging is an inevitable part of life, but how we age can make a significant difference in our quality of life. One crucial aspect of aging well is maintaining muscle mass. As we enter our 60s, the natural decline […]
CHANGES EFFECTIVE IN 2023 RRSP/RRIF REPORTING RULES
Introduction Changes Effective in 2023 RRSP/RRIF Reporting Rules For clients with larger RRSP/RRIF balances,what appears to be a small administrative changeto the RRSP/RRIF reporting rules could havesignificant implications. Until recentlyfinancial institutions were only required to reportto the Canada Revenue Agency (CRA)contributions and withdrawals from RRSPs/RRIFs they administer. However, due to concernsthat RRSPs/RRIFs may hold assets […]
THE REMARKABLE RISE OF A BETTER WORLD: WHY HUMANITY IS THRIVING AS NEVER BEFORE
The world is not fair, equitable, just or even enjoyable for large swaths of humanity. When we watch the news, which is saturated with the misery of war and turmoil, it can feel like we’re all going down little by little. I actually can’t remember a time when the news was so overly depressive. And […]
Reclaiming Your Privacy: How Using Incogni Can Minimize the Threat of Hacking
Here’s a tool our team at Schneider Insurance is testing. It helps to automatically reduce your chances of getting hacked while also and also pesky telemarking calls. It’s called Incogni and it automates getting your data out of databrokers databases. In our digital era, data is the new gold. Every click, every like, every purchase, […]
AI AND FINANCIAL PLANNING
FIRST-TIME HOME BUYERS OPTIONS
Home prices are finally starting to come down throughout BC, largely due to interest rate rises. And assuming we see another couple of years of rate rises, we should see prices recede accordingly to a level that is hopefully sane once again. That means that for younger couples without a home today, starting now to […]
PAY YOURSELF FIRST
CORPORATE OWNED LIFE INSURANCE — PROBATE TAX ISSUES?
The tax rules governing the valuation of corporate-owned life insurance, for purposesof determining the fair market value (FMV) of private company shares on a shareholder’s death1, are well established. Subsection 70(5.3) of the Income Tax Act (the Act) provides that in valuing the shares ofthe corporation, the FMV of any corporate-owned life insurance on the […]
LIFE INSURANCE SHARES
A great streaming tool for corporate owned life insurance proceeds that come with tax considerations Corporate-owned life insurance has become an important tool in meeting the planninggoals and objectives of private company shareholders. Corporate-owned life insurance is oftenpurchased for a variety of reasons, including: What are life insurance shares? From a legal perspective, life insurance […]