FORTAX Tax Specialists understand the tax implications that successful investing can bring. We’ll develop a complete tax planning strategy that protects as much of your hard-earned money from the taxman as possible. Our advisors will also make appropriate adjustments in accordance with life events, such as marriage, having children, or buying a home.
- Individual tax returns (T1)
- Sole Proprietorships
- Immigrant returns
- Corporate Taxes (T2)
- Trust Returns (T3)
- Tax Planning
- Estate Planning
- Sales Tax Filing (HST)
- Financial Statements
Term Insurance (or Mortgage Insurance)
Protect your mortgage and cover financial obligations in the event of death, critical illness, or disability with term insurance. Unlike many mortgage insurance policies, term benefits aren’t married to the value of your mortgage, but are guaranteed for the life of the policy. Should you pass away during the term of the policy, your beneficiaries will receive tax–free payments that they can use as they see fit, such as pay off the mortgage, loans, or funeral expenses.
Whole Life Insurance
With whole life Insurance, your premiums are locked in for your entire life, even if you get critically ill. This policy also builds cash and interest over time, which can be used to increase the death benefit or purchase additional coverage. You can also opt to receive insurance dividends, which are tax-free, or you can borrow against them if you need quick access to cash.
Enjoy permanent protection with tax-advantaged investment growth within the policy that will pay you a guaranteed regular income, typically during your retirement years. Flexible payment options give you the freedom to choose income payments monthly, every three months, every six months, or once per year. You can even choose to receive payments now, or defer them to a later date.
Accidental death insurance provides benefits in the event the insured is involved in an unforeseen, unexpected, and undesirable incident that results in their loss of life. Benefits are tax-free and paid in a lump sum to the beneficiaries.
We can’t predict when an accident will occur, but can be prepared with financial compensation that helps loved ones cope when tragedy strikes.
Funeral insurance, also known as burial or final expense insurance, can help your family through a difficult time by covering the costs of your funeral, cremation, burial, and other related expenses.
Saying goodbye to a loved one is never easy, but funeral insurance can help ease the worry of financial burdens during the grieving process.
Guaranteed Life Insurance
Regardless of your current health condition or medical history, if you’re between the ages of 50 and 75 you’ll be approved for Guaranteed Life Insurance with no questions asked or medical examination required. Your premiums will never increase and the benefits will stay the same throughout the life of the policy.
Universal Life Insurance
The highly flexible life insurance option gives you complete coverage along with a wide range of benefits. Not only do you get permanent life insurance coverage, but also a broad selection of investment options that allows for tax-efficient savings growth. Interest from the savings can be used to pay premiums over a period of time, and any amount above the premium can be kept in a savings account or be used to increase the death benefit.
Permanent Life Insurance
Just as its name suggests, permanent life insurance plans don’t expire. We can help you choose between available universal and whole life insurance plans, depending on your needs. Permanent life insurance also includes a savings opportunity, from which the policyholder can withdraw to use however they wish, such as paying off their mortgage, helping with a loved one’s college tuition, or investing in an RRSP.
Health insurance allows you to save on healthcare costs not covered by provincial healthcare plans or your employer. Eligible services covered under health insurance include dental, hearing aids, prescription drugs, nursing, home care, physiotherapy, massage therapy, and much more. Also, if you’re self-employed and without health benefits, this product has you covered!
If you develop an illness that requires long-term treatment and recovery, critical illness insurance helps you cover basic household expenses so you don’t have to withdraw from your RRSP or other savings. It’s also a great option for self-employed business owners to keep their business operating during convalescence. With critical illness insurance, you have the freedom to solely focus on your recovery.
In the unfortunate event you become disabled and are unable to earn an income, disability insurance can help by replacing a portion of your income over the short or long term. Disability can result from a number of causes, including a personal injury, serious illness, or mental health issue. Benefits can be used to cover household or other important expenses, as you see fit.
Nothing ruins a trip more than having insufficient insurance coverage when you need it the most. Our plans include medical coverage for your entire family, including emergency coverage in the event you require an out-of-province hospital stay. Whether you travel around the world or across the country, we have a travel insurance plan that’s right for you.
Take advantage of generous tax benefits while building up your retirement wealth with a Registered Retirement Savings Plan (RRSP). Our advisors will regularly review your RRSP to make sure it’s as tax-efficient as possible, and keep your investment portfolio diversified and profitable to help you have the retirement you’ve always dreamed about.
Do you have a Tax-Free Savings Account (TFSA)? Dividends and capital gains generated by investments within a TFSA are tax-free, even when withdrawn, so your savings will accumulate faster. There is no annual deadline to contribute to your TFSA, and if you need quick access to cash, you can make no-cost withdrawals at any time.
Benefit from flexibility, consistent liquidity, and no contribution limits with a non-registered investment account. Capital gains from investments within these accounts are only subject to tax upon withdrawal, and are taxable at only 50% of your marginal tax rate. Unlike RRSPs and TFSAs, there are no contribution limits, giving you unlimited investment freedom.
Give your children’s post-secondary education the best start possible with a Registered Education Savings Plan (RESP). When you open and contribute to an RESP, you’ll access the Canada Education Savings Grant (CESG), which allows the federal government to also contribute to your child’s education to a maximum of $7,200 per child over the lifetime of the RESP.
If you or someone you care about has a disability, you can open a Registered Disability Savings Plan (RDSP), which will provide them with financial security to help with their specialized needs. Funds grow tax-free until withdrawal, have flexible payment terms, and will give you or your loved one added independence and income through the later years.
Mutual Funds provided through Carte Wealth Management Inc.