by Dynamic Planning Partners | Sep 1, 2023 | 2023, Blog, Family, financial advice, financial planning, Registered Education Savings Plan
What is an RESP? A Registered Education Savings Plan (RESP) is a unique savings account available in Canada, designed to assist individuals, such as parents or guardians, in saving for a child’s post-secondary education. Notably, anyone can open an RESP for a...
by Dynamic Planning Partners | Aug 1, 2023 | Blog, investment
A Tax-Free Savings Account (TFSA) is an investment vehicle available to Canadian residents. It offers numerous benefits, including tax-free growth of your investments and tax-free withdrawals. Before you decide to open a TFSA, it’s essential to understand the...
by Dynamic Planning Partners | Jul 3, 2023 | Blog, investment
Investing in a fund requires a good understanding of its associated costs, including the Management Expense Ratio (MER). In this article and infographic, we’ll break down the different components of the MER. Understanding the Management Expense Ratio The...
by Dynamic Planning Partners | Jun 2, 2023 | Blog, Retirement
Essential tips and tricks for paying less tax and keeping more of your retirement incomeMost of your retirement income sources are taxable; Canadian Pension Plan (CPP), your personal pension plan (if you have one) and income from your RRIFs. However, if you’ve set up...
by Dynamic Planning Partners | May 1, 2023 | Blog, investment
The First Home Savings Account (FHSA) is a savings plan designed for first-time home buyers in Canada, which allows them to save up to $40,000 tax-free. Contributions to an FHSA are tax-deductible, similar to Registered Retirement Savings Plans (RRSP). Additionally,...
by Dynamic Planning Partners | Apr 3, 2023 | 2023, Blog, disability, tax
Tax Tips You Need To Know Before Filing Your 2022 TaxesThis year’s tax deadline is May 1, 2023, as April 30 falls on a Sunday this year. It’s important to make sure you’re claiming all the credits and deductions you’re eligible for. In this article, we’ll provide you...
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