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Tax Planning

Taxes are a fact of life. They affect every Canadian in most aspects of their lives. Whether it's earning an income, making a purchase, owning real property, investing, running a business, or transferring your estate, life is full of taxable consequences that, if left unchecked, could consume an ever-increasing amount of one's livelihood. While the Income Tax Act was created specifically to ensure that everyone pays their fair share it also affords all taxpayers the right to organize their financial affairs in such a way so as to minimize their taxes whenever and however possible within the legal confines of the Act. And that is the objective of tax planning.

Tax planning is a critical component of comprehensive financial planning, which is pivotal in optimizing wealth and achieving long-term financial goals. By strategically managing tax implications, individuals and businesses can minimize their tax liabilities, freeing up resources for savings, investments, and other wealth-building endeavors. Efficient tax planning allows for the identification of deductions, credits, and exemptions, ensuring that every available opportunity is leveraged to reduce the tax burden legally. This preserves more of one's income and enhances overall financial flexibility, enabling individuals to allocate resources strategically toward priorities such as education, homeownership, retirement, and philanthropy.

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Furthermore, effective tax planning is essential for adapting to changing financial circumstances and evolving tax laws.  A proactive approach to tax planning ensures that individuals and businesses stay ahead of regulatory changes, making necessary adjustments to their financial strategies to remain tax-efficient. Whether it's optimizing investment portfolios, structuring retirement plans, or managing business finances, integrating tax planning into the broader financial planning framework is crucial for building and safeguarding wealth over time. In essence, tax planning is the compass that guides individuals and businesses toward a more secure and prosperous financial future.

Maximize Your Wealth: Tax Planning Unleashed

Welcome to our Tax Planning Hub, where financial success meets strategic tax optimization. At Northern Asset Management, we understand that navigating the intricacies of tax laws can be daunting, but with our seasoned financial planners by your side, you're not just managing taxes – you're unlocking a pathway to enhanced financial well-being.

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Why Tax Planning Matters?

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Effective tax planning is not just about compliance; it's about harnessing opportunities to safeguard and grow your wealth. Our financial planners delve deep into your financial landscape, tailoring a comprehensive tax strategy that aligns with your goals, be it wealth accumulation, business growth, or retirement planning.

 

 

Our Approach: Your Financial Goals, Your Tax Strategy

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Our dedicated team of financial planners begins by understanding your unique financial goals. Whether you're an individual seeking to optimize personal taxes or a business owner aiming to maximize profits, we tailor our strategies to fit your needs seamlessly. We analyze your income sources, investments, and expenses to identify opportunities for tax efficiency.

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Key Offerings:

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  1. Personalized Tax Planning: Our experts work closely with you to identify deductions, credits, and strategies that minimize your tax liability while optimizing your financial position.

  2. Business Tax Strategies: For business owners, we craft tax-efficient plans to enhance profitability, manage cash flow, and facilitate strategic growth.

  3. Retirement Tax Planning: Ensure your retirement is not only comfortable but also tax-savvy. We structure retirement plans that provide income streams with minimal tax impact.

  4. Investment Tax Optimization: From capital gains to dividend income, we help you navigate the complexities of investment taxation, ensuring your portfolio works smarter for you.

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Why Choose Us?

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  1. Expertise: Our team comprises seasoned financial planners with a deep understanding of tax laws and a proven track record of successful tax planning strategies.

  2. Customized Solutions: We don't believe in one-size-fits-all. Every client receives a tailored tax plan crafted to align with their unique financial circumstances and aspirations.

  3. Transparency: No hidden fees or convoluted jargon. We believe in transparent communication, ensuring you comprehend the intricacies of your tax strategy.

  4. Proactive Approach: Tax laws evolve, and so do your financial circumstances. We proactively review and adjust your tax plan to ensure it stays aligned with your goals and adapts to changing regulations.

 

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Get Started Today!

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Don't let taxes be a stumbling block on your path to financial success. Partner with Northern Asset Management for strategic tax planning that empowers you to keep more of your hard-earned money. Contact us today to schedule a consultation and embark on a journey towards financial prosperity.

Primary Disclaimer

The information contained herein is for Alberta residents only and does not constitute an offer to sell or solicit sales in any other Canadian or Foreign Jurisdictions.

Mutual Funds are available through Global Maxfin Investments Inc. Insurance Products including but not limited to” Segregated funds, HISA, Insurance GIC’s, Life, Disability, and Critical Illness Available through Global Insurance Solutions Inc.

This publication is not an offer to sell or a solicitation of an offer to buy any of the securities. The securities discussed in this publication may not be eligible for sale in some jurisdictions. If you are not a Canadian resident, this report should not have been delivered to you. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional advisors for advice based on your specific circumstances.

Dual-Licensing Disclaimer

Global Maxfin Investments Inc. is registered as a Mutual Fund Dealer with the Provincial Securities Commissions and as such our Associates are entitled to sell mutual funds and other approved securities as permitted under our registration. They may also be able to provide other services or products to you through their own business. As a member of the Mutual Fund Dealers Association of Canada ( MFDA) Global Maxfin Investments Inc. is obligated to disclose to you that you may be dealing with companies other than Global Maxfin Investments Inc. When purchasing services or products from your Associate ( remuneration to your Associate may also come from various sources depending on the services or products purchased). For example, your Associate may offer any one or more of the following through a separate business, which would not be the responsibility of Global Maxfin Investments Inc.:

• Deposit Instruments: High Invest Savings Accounts and GICs;

• Financial planning services—including Fee-for service financial planning;

• Estate Planning;

• Tax Planning or Income Tax Preparation;

• Insurance: Life, Accident, Sickness, Disability, General.

Please be sure that you have a clear understanding of which company you are dealing with for each of your services and products. Your Associate would be happy to provide any clarification you require.

No Legal or Financial Advice

The information provided on this site is for information purposes only. Under no circumstances should you regard any information you read or access on this site as financial, accounting, legal, or tax advice. You should consult your financial advisor before acting on any information on this website.

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Links to Third Party Website, Derek Schaefer and Global Maxfin Investments Inc. do not make any representation that the information in any linked site is accurate and will not accept any responsibility or liability for any inaccuracies in the information not maintained by them, such as linked sites. Any opinion or advice expressed in a linked site should not be construed as the opinion or advice of Derek Schaefer or Global Maxfin Investments Inc.

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Mutual Funds

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing.

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The Internet is not a secure medium and privacy cannot be assured. E-mail is vulnerable to interception and forging. Derek Schaefer and Global Maxfin Investment Inc. cannot ensure the privacy of any information or instructions you send to us or that we send to you over the Internet. Derek Schaefer and Global Maxfin Investment Inc. will not be responsible for any damages you may incur if you communicate confidential information to us over the Internet or if we communicate such information to you at your request.

No Solicitation

Nothing on this website constitutes a solicitation or offer by Derek Schaefer and Global Maxfin Investments Inc. to buy or sell products or services of any kind whatsoever.

Limitation of Liability

Derek Schaefer and Global Maxfin Investment Inc. will not be responsible or liable for any direct, indirect, special, incidental, or consequential damages, or any other damages whatsoever, including, without limitation, lost revenues, lost profits or loss of prospective economic advantage, resulting from the use or misuse of this website, or the information or documents thereof, even if advised of the possibility of such damages or such damages are reasonably foreseeable.

Segregated Funds

Subject to any applicable death and maturity guarantee, and part of the premium or other amount that is allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value according to fluctuations in the market value of the assets in the segregated fund.

License Disclaimer

All products and services recommended through Northern Asset Management are through the appropriate licensing bodies. Derek Schaefer as a multi licensed individual through MFDA and the Alberta Insurance Council presenting mutual fund and insurance related products.

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