An Ira is one of the greatest ways to save on taxes currently and accumulate money for the future. For individuals three types of IRA’s will normally come under consideration. The Traditional or Regular IRA The Education IRA The Roth IRA Education IRA is now called the Coverdell Education Savings Account (ESA). Education IRAs allow you to save for qualified higher educational expenses for a beneficiary. Parents and guardians are allowed to make nondeductible contributions to an education IRA for [...]

Life insurance rates differ from person to person and from policy to policy. While choosing a life insurance is one side of the coin, getting the best possible rates is another. Although, life insurance is touted to be the most essential thing any responsible adult should possess, there are certain people after all who do not need life insurance at all. And then there are people who are currently unstable in financial terms, but would like to insure themselves nevertheless. [...]

A common L/C scam: a fraudulent seller sends fake shipping documents to the opening or advising bank to prove that the goods were shipped. In fact, the goods never left the sellers warehouse or, more likely, never existed at all. Other documents like the invoice, packing list, export declaration, even Certificate of Origin can be easily produced by the scammer. In many L/Cs the only documents needed for the L/C to be paid are the invoice and shipping documents. If the [...]

Canada Revenue Agency (CRA) administers the Scientific Research and Experimental Development (SR&ED) Tax Incentive Program in which Canadian-controlled private corporation are encouraged to conduct their Research and Development in Canada. In exchange for this, the CRA is giving an investment tax credit of 35% to the first $2 million of qualified expenditures; and 20% on the excess amount. In dollar terms, this can be a few thousand dollars or even millions. The program is very attractive especially to start-up companies [...]

Financial planning is an ongoing process individuals and businesses should implement by organizing all aspects of their finances. This will assist them in identifying their financial goals, providing a comprehensive written Financial Plan, and implementing the plan in accordance with those goals. Comprehensive financial planning should involve these areas and these specific questions. ESTATE PLANNING How can you accumulate a sizable estate to pass on as a family legacy? How will your hard-earned assets be distributed after your death? How [...]

The term Mobile Banking sounds like it means being able to bank while on the go – and in a sense that’s just what it does mean. You see the way we handle our money has changed dramatically in the last 50 years. It used to be that we kept our money in our wallets and took it with us everywhere we went so we could buy our groceries, clothes, sundries, etc. In the last couple decades we started carrying plastic with [...]