Tax Planning
Why Karma Financial?
There are two certainties in life: death and taxes. What is not certain is how you can minimize your taxes whether as an individual or business owner. Karma Financial can help you plan your taxes and utilize various strategies to maximize your wealth.
Aside from familiar tax-sheltered investment strategies such as TFSA and RRSP contributions, there are other tax efficient ways to invest and build wealth that you may not be aware of such as spousal transfers, income splitting. For business owners, we have advised on retirement strategies involving permanent insurance and private pension plans.
Karma Financial offers tax planning that lets you accelerate wealth accumulation by minimizing your taxes. With years of experience, industry knowledge and understanding of tax law nuances we devise the most effective ways to minimize taxes!
After getting a clear understanding of your budget, net worth and source of income, we will be able to devise the appropriate tax plan to minimize your taxes.
We can help you maximize your retirement savings returns in the current year and the future. You will be able to reap the advantage of tax credits and strategies from our plan to get the full value of your retirement savings.
Why Choose Us
The choice of the savings strategy would depend on your income tax bracket, short-term and long-term goals.
Tools like RRSP’s are useful when you are in a high income tax bracket and claim the deduction based on the contributions you make towards the RRSP. TFSA’s are useful if you are not in high tax bracket and plan to make periodic withdrawals.
Karma Financial has a number of unique strategies and plans that can be applied to specific situations. We can help you with tax planning and reduce the amount of tax you currently pay and plan for a better future.
Our financial experts will make you understand the implications and nuances of your investments. You can also plan and make better investment decisions while minimizing your taxes.
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