Tax Planning Blog Articles

  • Home
  • Tax Planning Blog Articles
Retirement Income Planning, Calgary
  • Oct 16, 2023
  • Willis Langford

Ways To Avoid the OAS Clawback

Consider Bob and Andrea who are now 65 years old. They have been taking advantage of the tax deductions they get from contributing to their RRSP for many years. They purposely kept their savings plans equal as both of them have been earning similar. . .

Retirement Income Planning, Calgary
  • Jan 17, 2023
  • Willis Langford

Tax Credits and Deductions For Canadians in 2023

Tax Credits and Deductions A non-refundable tax credit means that you receive a credit that can only be applied to taxes owed. If you don’t owe any taxes, the credit is of no value. Once your income tax is reduced to zero, there is no further. . .

Retirement Income Planning, Calgary
  • Aug 15, 2022
  • Willis Langford

The Difference Between Marginal Tax Rate and Effective Tax Rate

Tax Planning Is Important Every dollar you save in taxes is a dollar you have available to spend on something that brings you joy or a dollar to reinvest and earn more money. You can remain ignorant and CRA will happily take your. . .

Retirement Income Planning, Calgary
  • Jan 01, 2022
  • Willis Langford

Need Some Retirement Income or Tax Advice? - Talk To An Expert

Talk To An Expert   This service is for you if you have a specific question about your financial situation that you would like to discuss with a Retirement Income & Tax Advisor. The cost is $125 for 30 minutes - You can select a phone. . .

Reverse Mortgages, Calgary
  • Sep 16, 2021
  • Willis Langford

Reverse Mortgages and Other Alternatives To Increasing Cash Flow

Would you like to access more tax-free cash flow in retirement?   The largest asset that you have in retirement is your home, it represents a large chunk of dormant equity. It's like you have this piggy bank, but the money is trapped inside. . . .

Flat-Fee Retirement Income Planning, Calgary
  • Mar 10, 2020
  • Willis Langford

5 Ways To Unlock Your Locked-In RRSP

Here are the 5 scenarios where you can withdraw money from a LIRA (Locked-In Retirement Account). The normal process for accessing the money inside a LIRA or LRSP to convert it to a LIF, which is a lifetime income fund, and start withdrawing. . .

Advantages of Charitable Giving
  • Dec 10, 2018
  • Willis Langford

Advantages of Charitable Giving

Well, It's beginning to look a lot like Christmas. . . . and Christmas is the season of giving! I want to provide you with some valuable information on the advantages of charitable giving. The first advantage is that it is good for your health. . . .

Retirement Income Planning, Calgary
  • Mar 11, 2018
  • Willis Langford

Why You Should Be More Concerned With TAXES Not FEES

Every dollar you save in taxes is not only an extra dollar that you have available to enjoy your lifestyle, but it is also a dollar you do not have to take from your retirement savings and it can be another dollar you can use to grow your. . .

Retirement Income Planning, Calgary
  • Jan 12, 2018
  • Willis Langford

The Key Differences Between Mutual Funds and Segregated Funds

A mutual fund is simply a basket of individual stocks managed by either a manager or a team of managers. The team will select various investments to hold inside of the fund in order to create a return for their investors. Typically the mutual fund. . .

Investments Insurance Planning, Calgary
  • Jul 08, 2017
  • Willis Langford

6 Strategies For Reducing Taxes Before and During Retirement

There's one often overlooked way to grow your wealth and create more guaranteed returns - Reducing taxes. Way too many Canadians needlessly pay too much in income taxes. Mostly due to a lack of understanding of how our system works and a lack of. . .

retirement Income, Calgary
  • Aug 02, 2016
  • Willis Langford

Is It a Good Idea To Tap Into Your Home Equity During Retirement?

You would be crazy not to! If you retire and plan to live in your primary family dwelling, and it's completely paid for, then you should definitely consider setting up a home equity line of credit on it before you retire.   One reason to do. . .

Latest Testimonial

If you are nearing retirement, newly retired, or well into that stage of life and need some honest, reliable financial advice and tax planning services, I highly recommend Willis and Nancy Langford at Langford Financial. I have been working with them since the fall of 2020 and am really happy I made the switch.

I needed much better advice than I was getting from my new bank rep as I was actively preparing for retirement. I found Langford Financial online and booked a review meeting. I was happy that I was sent a complete list of all the information that would be needed prior to my initial meeting so I arrived prepared.

From that initial meeting, I decided to have Willis prepare a retirement plan for me. After we reviewed everything he had prepared, I felt much more confident in what was to come financially during retirement and how I could manage it. That's when I decided to transfer my investment portfolio from my bank to Langford Financial so they could manage it with and for me. I felt they really had my best interests at heart.

It was a pleasant surprise that their approach combined both income planning for retirement and tax planning for both the immediate future and well into retirement. This has proven to be very helpful as it has ended up saving me a lot of money (a lot!) by using credits that had been missed by the company I previously used to prepare my taxes.

I really like working with Willis and Nancy. They are very quick to answer any questions I have and can accommodate virtual or in-person meetings based on what is needed. They also produce a regular newsletter that I really enjoy. It has lots of tips in it and some very good in-depth information that helps me make better decisions---or at least ask better questions!

Moving to Langford Financial was a great decision for me. It has lead to better financial planning and decision-making and much greater peace of mind for me at this time of life.
Sharon Stroick
Full Service Client Since 2020

Contact Us

Questions? Comments? Call us today at 587-755-0159 or fill out the form below:

Have Questions? Call Us Today At

Call Us

Join Our Newsletter