Clement Chung
- Jan 23, 2020
- 3 min
You Received An Inheritance... Now What?
Whether you pay off debt or invest, some strategic planning can help newly inherited money go a long way. When a loved one passes away and leaves a bequest to you, you may be filled with a range of emotions from grief to relief – while you are saddened by your loss, an inheritance can be an excellent opportunity to improve your financial well-being. An inheritance is a gift that needs to be treated with special care. If you find yourself the recipient of one, here are some id
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Clement Chung
- Jan 16, 2020
- 3 min
Here is Why You Should Incorporate
Are you running a successful small- or medium-sized business? If your business is well established, it might be time to consider changing its structure for tax, legal and financial reasons. If you are earning greater revenues, growing the business or expanding into new markets, a corporate business structure may be a better fit, offering several advantages from a tax and liability standpoint. How incorporating can help Lower liability Incorporating your business creates a new
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Clement Chung
- Jan 9, 2020
- 5 min
Am I Paying Too Much Taxes?
Plan today for lower taxes tomorrow. Nobody likes to pay more tax than they Have to. The good news is there are strategies beyond contributing to a Registered Retirement Savings Plan (RRSP) that can help reduce your taxes owing. A variety of expenses can be claimed as a tax deduction or tax credit on your tax return. Here are eight strategies to consider. 1. Make a TFSA contribution before December 31 Starting in 2009, all Canadian residents age 18 years or older can contribu
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Clement Chung
- Jan 1, 2020
- 3 min
Retail Therapy
How to be a savvy online shopper. If you’ve purchased something on the Internet recently, you’re in good company. Last year, 26.8 million Canadians bought goods or services online. Nowadays, you can buy almost anything online, from groceries and electronics to clothing and home furnishings – it’s no wonder that roughly one-third of respondents to a 2019 survey indicated that they planned to spend more money online in the coming year. Why shop online? Some people appreciate th
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