The Hidden Gem of Canadian Tax Benefits: Health Spending Accounts
For Business Owners and Incorporated Individuals in Canada, managing medical expenses can be streamlined with the use of Health Spending Accounts (HSAs). This tool offers a plethora of benefits tailored for the self-employed and business owners, yet, many remain unaware of its advantages. Understanding Health Spending Accounts (HSA) For incorporated individuals, HSAs are a beacon […]
Choosing the Right Financial Advisor: Key Questions to Ask
Selecting a financial advisor is a crucial step in managing your investments and achieving your financial goals. Here are some key questions to ask potential advisors to ensure they are the right fit for you. 1. Qualifications Inquire about the advisor’s qualifications. What designations do they hold? Are they a Certified Financial Planner or a […]
A Comprehensive Guide to Mutual Funds
Mutual funds are investment vehicles that allow a group of investors to pool their money together and invest in a diversified portfolio. These portfolios are typically comprised of a variety of assets such as stocks, bonds, and other funds. The specific investments within a mutual fund are determined by the fund’s investment objectives. Investing in […]
Understanding the First Home Savings Account (FHSA) in Canada
The First Home Savings Account (FHSA) is a new type of registered savings plan designed to help Canadians save for their first home. It is available to Canadian residents aged 18 years or older who are planning to buy a home in Canada. Contribution Limits The FHSA has specific limits on contributions: An annual contribution […]
