November 2022
Inflation gives a boost to 2023 TFSA contribution limit
As a small consolation to the sky-high cost of living, the federal government is boosting the 2023 tax-free savings account (TFSA) contribution limit by an additional $500. That means the total amount anyone over 18 years old can contribute to their TFSA will be expanded to $6,500, starting January 1, 2023.
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Tax strategies for snowbirds
In this episode of ‘Conversations on Wealth’, host Sarah Widmeyer speaks with Sean Hsu, Senior Tax Specialist at Richardson Wealth about Canadian snowbirds and their U.S. tax obligations. Sean shares that if you spend extended periods of time living in the United States, it’s important to keep track of your days there.
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Enhancing our technology capabilities
Richardson wealth’s next step in technology: transitioning to Fidelity Clearing Canada’s uniFide™ platform
Last year, we sent out a letter to you announcing an exciting strategic agreement with Fidelity Clearing Canada ULC (Fidelity). Simply put, what this means is that Richardson Wealth will use Fidelity’s best-in-class technology platform, uniFide™, to enhance our processes and systems. Fidelity will also become our carrying broker, providing custody, clearing and trade settlement services.
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U.S. estate tax for the non-U.S. citizen
This article provides an overview of the U.S. federal estate tax and focuses on its potential application to Canadians who are not U.S. citizens and are not domiciled in the U.S. but hold U.S. situs assets.
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Making a gift to charity doesn’t mean disinheriting your family
There is a belief that making a significant gift to charity means disinheriting your family and friends, sometimes referred to as “zero-sum estate planning.” But nothing could be further from the truth.
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