Tax Planning and Strategies

Since many tax strategies require foresight to be effective, tax planning should be a year-round activity. However, as year-end approaches there are still opportunities to consider to reduce your 2023 tax bill. The following information relates to year-end tax-savings strategies that may be available, depending on your personal situation.

Marginal tax rates by province

Reduce your taxes with a prescribed rate loan

Pension Income Splitting to Reduce Family Taxes

Tax Planning Study

Tax Loss Selling Report Summary

In the absence of planning, when an individual passes away owning shares of a private company, they could be exposed to double or triple taxation. Professional expertise is required to effectively execute and realize the available tax savings. For more information, speak with your BMO financial professional.

Consider Tax-Loss Selling in Your Year-End Planning

The benefits of making a charitable donation are countless – from helping those in need to the personal satisfaction of giving back to the causes that are important to us. Charitable giving also makes good sense from a tax perspective. With proper planning, you can reduce your total income tax liability and maximize the value of your donation.

Understanding Capital Losses

2022 Tax Tips for Investors

Tax & Estate Consequences of Investing in US Securities

Tax Efficient Investing

When it comes to investment income, all is not equal after tax. Knowing how tax rules affect your investments is essential in order to maximize your after-tax return. This publication explains the taxation of investment income held in a taxable account as it pertains to an individual resident in Canada.

U.S. Tax -Can You Afford to Play the Waiting Game?

Tax-Free Dividend with Life Insuranc

While most Canadians are aware of the April 30 personal income tax filing deadline, there are other important tax deadlines that must be observed over the course of the year – especially if you want to take advantage of certain tax deductions and credits. This calendar summarizes several important dates on the tax calendar and offers some tips to help you with your overall wealth planning. Where a deadline falls on a weekend or a holiday recognized by the Canada Revenue Agency (“CRA”), the deadline is generally extended to the next business day.