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| Year-end Tax Planning Time
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December, 2010
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Hello, friend!
Trinity Wealth Management Group offers unique tax saving, investment and real estate products, as well as mortgage, accounting and insurance services. We serve our clients across the country from our head office in Regina, Sask.
Trinity Wealth is pleased to announce that Cory Daly of Daly Financial Group has joined our team in the capacity of Financial Planner. Cory holds both the Certified Financial Planner (CFP) and the Chartered Life Underwriter (CLU) designations.
Cory’s expertise includes:
- Tax and Estate Planning
- Investments
- Insurance Products
- Business Succession Planning
- Financial Education
Call Cory at 545-7879.
Trinity Wealth is now advertising on Big Dog 92.7 radio in Regina. Give a listen!
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Year-end Tax Planning
As the end of the year approaches, many people turn their attention to income tax planning. Individuals are taxed on a calendar year basis so December 31, 2010 represents the last date for transactions that affect 2010 taxes.
There are other “tax deadlines” that fall around this time or early in the new year, such as the Registered Retirement
Savings Plan (RRSP) contribution deadline. Therefore, the year-end is generally a good time to take stock of your income and deductions and to make decisions about your overall tax position for 2010
Ideally, tax planning should be considered on an ongoing basis throughout the year as part of an overall financial plan. All taxpayers should review their particular situation regularly to ensure that they’ve structured their financial affairs to minimize tax as much as possible. In particular, any major transactions should be examined in advance to ensure that tax considerations are taken into account.
However, even if you haven’t actively monitored your tax situation throughout the year, there are still a number of steps you can take before year-end to minimize your taxes for 2010.
Visit our website
here
(www.trinitywealth.ca) or call 306-545-7888 for more information.
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The VIA Project
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SINCE THE ADVENT OF ANALOGUE PHOTOGRAPHY MORE THAN 150 YEARS AGO, THE PHOTOGRAPH HAS BEEN THE PRINCIPAL DOCUMENTARY RECORD OF CIVILIZATION; A PASSPORT TO OUR COLLECTIVE MEMORY AND HISTORY. HOWEVER, WITHOUT PROPER CARE, THESE FRAGILE OBJECTS MAY BE DAMAGED OVER TIME OR LOST ENTIRELY THROUGH NEGLECT.
There is a vital need to safeguard the enduring legacy found in the vintage photographic record. A number of leading Canadian educational institutions possess the desire, ability and capacity to house and preserve these unique cultural and artistic resources, and to make them available for all to cherish. Yet, none of these institutions have the financial resources necessary to purchase these photographs for their public collections
The Vintage Iconic Archives (VIA) Project
makes it possible for individual Canadians to play a vital role. As collectors first, and thereafter as donors, we can ensure the preservation of these captivating and intensely valuable artifacts, while receiving significant personal tax benefits in the process.
“Donation Tax Shelter programs can be highly effective when integrated into an individual’s overall wealth management plan. When one looks at donation tax shelters in the context of their overall wealth management plan, the opportunities become obvious, whereas the real financial risk significantly diminishes.
(excerpted from the Tax Strategists’ Council of Canada brochure,Understanding & Evaluating Donation Tax Shelters)
read more . . .
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Bedford Biofuels
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Bedford Biofuels Inc. is an Alberta-based biofuel company running large-scale biofuel operations in Eastern Africa.
By utilizing Jatropha, a non-food crop feedstock that thrives in Sub-Sahara Africa, Bedford has created a truly unique investment; one that not only has a great potential return, but is also environmentally and socially responsible.
THE OFFERING:
- Investors purchase a block of shares for $8000, which gains them the right to 75% of the profit from the equivalent of one hectare of land
- Revenues are calculated based on the sale of CJO and seedcake (a Jatropha by-product used as a cattle feed). Other revenues are currently being explored to increase the ROI
- The investment is
RRSP/TFSA eligible
read more . . .
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Critical Illness Insurance
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Today, you need more than health coverage — you need protection for your lifestyle during recovery.
Critical illness insurance is a form of protection that can provide you with a lump sum payment if you suffer from a covered critical illness and the survival period is satisfied. The physical and emotional strain of a critical illness can be severe and when you combine that with the potentially damaging financial impact, the result can be devastating.
That’s where the critical illness benefit comes in; you are free to spend the money as you wish; such as to help cover lost income, to pay for private nursing or out-of-country treatment, for medical equipment or even to pay off your mortgage. It can help you where you need it most so you can focus all your energy on recovering.
Critical illness insurance provides a lump-sum benefit to help support you financially, if you are diagnosed with and survive a covered critical illness. You can use this benefit payment to supplement your health insurance plan and any group disability coverage you may have:
Reduce your financial burden:
Pay off or reduce your mortgage, credit cards or other debts. Help keep your business running.
Maintain your independence:
Modify your home or vehicle to improve your mobility. Hire domestic help during your recovery. Fund a leave of absence for yourself or your spouse.
Access cutting-edge medical services:
In Canada, pay for medications and treatment not covered by provincial health plans. Outside Canada, pay for treatment that may not be available at home, in addition to your family’s travel and lodging expenses.
Assist in your recovery any way you choose:
Spend more time with your family or use the benefit in other ways that can help you focus on getting well.
What’s more, with critical illness insurance, you may not have to go into debt or withdraw money from your retirement savings to remain financially stable and independent during your recovery.
read more . . .
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Business Tips
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1. Avoid putting your personal credit and personal assets at risk and start establishing business credit under your corporate entity. By doing so you will have the ability to obtain 10 to 100 times greater credit capacity.
2. You must do something every day to tell the world you are open for business. Even if you just make one sales call a day, send out one helpful tweet a day, write one article to promote your expertise, or send one follow-up email a day.
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| Free Download
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The end of the year is an ideal time to examine your financial health and update your financial plans.
Download this list of important things to review that might make a difference in your year-end review and plans for next year.
Year End Checklist
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Upcoming Events
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Whether you know a little or a lot about financial planning, knowledge and good advice is one thing everyone benefits from.
Register to attend our free, weekly, in-house, informational workshops:
Investing 101
Wednesday, December 8
7:00
The Real Cost of Your Mortgage
Wednesday, December 15
7:00
Year-end Tax Assistance
Wednesday, December 22
7:00
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Join Us
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If you have a background in financial services, insurance, accounting or tax shelters and are looking for a rewarding and profitable full-time or part-time opportunity, we would like to talk to you.
We are looking for financial professionals to introduce our strategies to their clients and the public.
Please call this office at 306.545-7888 for more information!
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the fine print
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You are receiving this email from Trinity Wealth because you have participated in a Tax Saving program or Investment opportunity through this office, or have indicated an interest in receiving Tax Saving and Financial Strategies updates from us.
To ensure that you continue to receive emails from us, please add
info@trinitywealth.ca to your address book today.
Warm Regards,
Trinity Wealth Management Group
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www.trinitywealth.ca
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