BMO Nesbitt Burns
4881 Yonge Street
9th Floor, PO Box 37
A succession plan would detail the business owner’s desires with respect to the management of the business and the disposition of their shares. This is very important because business owners devote a significant amount of time, energy and, in most cases, their own money to building their business. If you’re contemplating a sale to a third party or a transition to family or employees, setting goals, having a vision and developing a formalized business succession plan are critical for success.
As the tax filing deadline approaches, here are some reminders to help ensure you’re prepared to file your personal income tax return, and that you maximize your tax savings.
Although Canadian snowbirds reside in the U.S. for only a part of the year, there is the potential of being considered a U.S. resident and, in turn, having to pay U.S. income tax on the same basis as a permanent U.S. resident. This article outlines how the U.S. government determines whether you are a resident for income tax purposes; namely, it covers the criteria for meeting the Substantial Presence Test, Closer Connection Exception and the Canada U.S. Income Tax Treaty Tie-Breaker Rules.
In an effort to help simplify your tax preparation efforts, we are providing you with a brief overview of the various tax slips and supporting documents you may receive from BMO, and their expected mailing dates.
This is a helpful resource summarizing important tax, retirement and estate planning information.
The attached article – Preparing Your Last Will and Testament – explains various aspects of Will preparation including, the importance of appointing an appropriate executor, life events that warrant a Will review and the use of testamentary trusts.
This is designed to help your family, executor (referred to as a “liquidator” in Quebec), or Power of Attorney for Property (referred to as a “mandatory” in Quebec) locate all of your important documents and other information needed to administer your estate or act as your Power of Attorney for Property
BMO’s outlook on the equity markets featuring Brian Belski, Chief Investment Strategist, to help you prepare for the coming year.
Tune into The Wealth Experience podcast channel for an exclusive BMO Wealth Management Podcast.
When a child starts to receive or earn their own money through an allowance, family gifts or a part-time job, their natural instinct is to spend it all. However, it’s never too early to start teaching children the importance of savings, and to respect the fact that money can also serve other goals, like sharing it to help others.
Understanding the Three Major Asset Classes:Cash, Bonds and Stocks