New 30-Year Amortizations for Insured Mortgages
Effective August 1, 2024, the government will allow 30-year mortgage amortizations for first-time homeowners who purchase newly built homes. For existing mortgage holders who meet specific criteria, “permanent amortization relief” will be available to extend repayment periods for as long as they need to get to the number they can afford to pay monthly. It’s an extension from the 25-year mortgage amortizations previously allowed. However, this isn’t for everyone… there is a significant risk to lifetime wealth creation and must be managed with an eye to interest rates and payment terms to reduce the non-deductible interest costs.Evelyn Jacks: Poverty and Real Wealth Management: It Begins with Tax Literacy
Can the principles of Real Wealth Management™ apply to family units affected by the dark cycles of poverty, or a profound lack of trust in the family? This is a question I was recently asked and happy to respond: yes.
Grad Spotlight - Lucie’s Designation Strengthens Her Business
Lucie Hansom earned her DFA-Tax Services Specialist designation in 2012 and in 2013 attended her first Distinguished Advisor Conference. We are pleased to have Lucie as one of our distinguished grads.
Support for Children
For all agreements or court orders after May 1997, child support payments are not taxable to the recipient or deductible by the payor. For income tax purposes, any support stipulated in an agreement or court order is deemed to be child support if it is not identified as spousal support.
RRSP Payment as Pension Income
When is an RRSP payment considered to be a pension for the purposes of completing public insurance, nursing home per-diems and other application forms?
Master Your Retirement: Follow the Ebbs and Flows
Surprise: there is nothing magical that happens when you enter retirement to suddenly make you immune to the trials and tribulations of everyday life. The sooner you acknowledge this, the closer you are to “Mastering Your Retirement.”
Build and Sustain Secure, Value-Added Client Relationships
Death is one certainty in life that most of us prefer not to think about. But if you recognize that exploring your clients' tax strategies to avoid tax erosion at death will increase the legacy passed on to family and community, specialize in this hot topic by enroling in Final Returns on Death of a Taxpayer.
