Darlene Bonner's Blog

TAX SEASON IS OVER…..WELL MAYBE

Darlene Bonner — Sun, 01 Aug 2010 22:23:37 +0000

Tax season is truly never over, it is always just around the corner. If you owed money this year, it may be time to have a financial advisor look to see if any changes can be made to your investment portfolio. Sometimes it is just a simple change that saves you the most money

Tax season is coming to an end…….

Darlene Bonner — Mon, 19 Apr 2010 12:15:24 +0000

It is time to start planning for the upcoming year. With the 2009 tax season almost out of the way, you now have a clearer picture as to whether or not you need to make changes to your financial plan. It is important that you review your plan regularly to ensure it is up to date. Don’t be afraid to ask questions or to challenge your financial advisor. After all, this is your retirement.

Have a happy day……

RRSP TIME

Darlene Bonner — Sun, 07 Feb 2010 21:55:43 +0000

Keep in mind the deadline for purchasing a RRSP. Days slip by so quick and all of a sudden the deadline has past.

NEED A QUICK ANSWER TO YOUR TAX QUESTION?

Darlene Bonner — Thu, 04 Feb 2010 20:54:00 +0000

http://www.cra-arc.gc.ca/

Sometimes you have a tax question that needs an immediate answer. The above Canada Revenue Agency website can give you those answers. As a tax preparer, it is the site I also use when I have questions.

TAX TIME IS NEAR

Darlene Bonner — Tue, 26 Jan 2010 23:55:12 +0000

When preparing your tax return, it is important you take the time to ensure you are taking advantage of all deductions, i.e.; donations, medical, home renovations and the list goes on. The Canada Revenue Agency will let you know if you forgot to include income, but will not let you know if any deductions were missed.

WHAT IF YOU ARE MISSING OUT ON TAX DEDUCTIONS?

Darlene Bonner — Tue, 19 Jan 2010 02:32:39 +0000

What if you are…..who do you ask? Well, you can ask me

THIS IS GREAT FOR SENIORS WHO REQUIRE INCOME FROM INVESTMENTS

Darlene Bonner — Fri, 15 Jan 2010 02:26:03 +0000

Fidelity T-SWP™

Fidelity T-SWP™ is a free cash-flow service that allows investors to tap into non-registered investments in a more tax-efficient way. It can serve as an alternative to a traditional systematic withdrawal plan (SWP), or as a complement to other income strategies, such as GICs.

Most of the cash flow investors receive through T-SWP is not taxed, because it is treated as part of the money originally invested. This allows tax to be deferred until the initial investment is depleted or sold.

Benefits of T-SWP

Fidelity T-SWP is a service that lets you

enjoy sustainable cash flow (available in a 5% or 8% cash flow option)
defer tax
capitalize on tax-favoured dividends and capital gains
potentially reduce government clawbacks on income such as Old Age Security
help preserve or even grow investments for the future
access your money when you need it (unlike most GICs or annuities)

DON’T MISS OUT….

Darlene Bonner — Thu, 14 Jan 2010 02:07:07 +0000

If you complete your own income tax, make sure you read the “What’s new” in the front of the 2009 income tax guide. It may also benefit you to look at each line number in the guide to ensure you are taking advantage of all deductions that may apply to you. Have questions, send them now and I will answer them for you.General Income Tax and Benefit Guide – 2009

CALM THE WATERS OF YOUR RETIREMENT

Darlene Bonner — Tue, 12 Jan 2010 03:24:25 +0000

Retirement does not have to be stormy. Be prepared.

COLD WEATHER EXPECTED FOR THE WEEK

Darlene Bonner — Tue, 12 Jan 2010 02:22:16 +0000

The forecast for this week is cold with even colder windchill. Please check on your senior neighbors, friends and relatives to ensure they have enough heat.