Tax Planning Blog Articles

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Retirement Income Planning, Calgary
  • Nov 03, 2022
  • Willis Langford

Tax Credits and Deductions For Canadians in 2022

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. . .

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 09, 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. . .

Annuities, Calgary
  • Nov 16, 2016
  • Willis Langford

What is a Prescribed Rate Annuity?

One of the challenges for creating retirement income is that interest rate yields have dropped so much over the past 30 years and now taxes are increasing - it's what we call adding 'insult to injury'.  If you are over the age of 60 this. . .

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. . .

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