BMO Nesbitt Burns
885 West Georgia Street
A “Blended Charitable Gifts Strategy” refers to the practice of gifting something now, something later (a gift in a Will) and something in between. This strategy gives donors the greatest opportunity to maximize their charitable giving, while taking into consideration their long-term financial needs. There are also significant tax advantages to giving during one’s lifetime, and additional tax advantages when a gift is made from an estate
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.
The funding of a Canadian life insurance policy is a common strategy for Canadian residents with excess liquidity who are looking for a tax-effective investment vehicle. However, when there is a U.S. person in the family, there are specific U.S. income and estate tax issues that should be considered.
When it comes to valuation and the value of an enterprise, applying a multiple to Normalized EBITDA (“Earnings Before Interest Taxes Depreciation & Amortization”) is an approach often used to value a company for the purposes of a sale, merger or acquisition. The value of a company is based on the risk of achieving future cash-flows, future growth opportunities, and capital requirements to maintain and grow the business.
As a business owner considering your transition options, one common exit strategy is a sale to one or more key employees. Upon first glance this may seem like the simplest strategy, but as is the case with any transition event there is significant complexity involved.
The purchase and sale of a business is a complicated and challenging process. Once a price has been agreed on, an important hurdle that buyers and sellers often face is the financing of the purchase price. This is primarily driven by the financial capacity of the buyer, and willingness of the seller to accommodate the buyers.
Transitioning a business is a complex process. It’s much more than a financial transaction and can have rippling effects, both personally and on the family. Without careful consideration, proper planning and active involvement from family and external advisors it could be a disruptive, demanding and overwhelming process.
Predictability and continuity are the gold standard of business operations. Nothing is more disruptive than an unplanned event that sends shock waves throughout the enterprise. One of the greatest disruptors is the death of a principal owner or employee. Having solid business agreements in place provides better clarity and certainty for you and all stakeholders, including business partners, family members, employees, customers and suppliers. Regardless of the size and structure of your business, understanding and strengthening agreements, with contingencies in the case of your incapacity or death, is a vital part of estate planning for all business owners.
February 02: In this episode, Sylvain Brisebois, National Sales Manager, BMO Private Wealth is joined by Larry Zelvin, Head, BMO Financial Crimes Unit, for an insightful discussion on the rise in cybersecurity threats and steps we can take to better protect ourselves in the digital world.
In November 2014 we asked our clients to let us know how we are doing and how we could improve ourselves. To review our results and our progress since the survey, please follow the above link.
eStatements are extremely convenient, and an example of our commitment to delivering in a safe and secure way documents relating to your account activity. That’s why beginning with your March 2016 statement, you will no longer receive paper copies of your individual* account statements in the mail. Please see attached for complete details, and to review the Consent to Electronic Delivery.
Since Canada represents only a small portion of the world’s capitalization, it may make sense to include some foreign investments in your portfolio. However, it is important to understand Canadian and other foreign tax implications of owning investments outside of Canada.
Knowing how the tax rules affect your investments is essential. Tax strategies that you should consider such as income splitting, charitable giving and estate planning.
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.
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.
Wealth Themes is a monthly compilation of timely articles and tools from our experts and other BMO Financial Group partners.
This is a helpful resource summarizing important tax, retirement and estate planning information.
Investing in real estate has always been a popular investment strategy for building wealth, particularly in active housing markets and big cities like Toronto, Vancouver and Montreal. No matter where you choose to invest, the decision to purchase real estate should be reviewed with your tax and legal advisors to understand the tax and legal issues applicable to your particular circumstances, and to determine whether it is a suitable option for your situation.
Crude oil prices have surged over the last several months as global oil demand recovers from the COVID-19 pandemic while supply stagnates. In the short term, we believe that demand could overshoot expectations as pent-up consumer demand is unleashed, leading to further upside in crude oil prices and oil and gas equities.
Fixed Income and Foreign Exchange Strategy. Outlines the firm’s short and medium-term interest rate and foreign exchange rate forecasts.
The BMO Nesbitt Burns Portfolio Advisory Team has prepared a client communication to provide perspective on the recent stock market volatility and “short squeezes” in certain stocks.
A look at what happened in the equity markets over the past week and an update on the earnings reports.
Tune into The Wealth Experience podcast channel for an exclusive BMO Wealth Management Podcast.
The monthly Global Markets Commentary provides an overview of recent global events and their impact on the markets.
Focus is a weekly financial digest.
2021 Market Outlook – The Continuation of the Roaring Twenties Recovery, Rotation and Reflation
On April 19, Finance Minister Chrystia Freeland presented her first Federal Budget from the minority Liberal government in the House of Commons. Since the government did not introduce a budget in 2020 because of the uncertainty of the COVID-19 pandemic, this was the first Federal Budget in more than two years.
Maximizing the value of your registered plans by making annual contributions to your Registered Retirement Savings Plan (“RRSP”), Tax-Free Savings Account (“TFSA”), and Registered Education Savings Plan (“RESP”) is an important wealth planning strategy. By making your annual contribution(s) early in the year, you’ll benefit from the tax-sheltered growth all year long.