Taxes are a critical consideration that impact every aspect of your financial life.  As part of a holistic planning approach, we’ll integrate sophisticated tax planning solutions to help manage the complexities of your wealth and ensure your overall plan is tax-efficient. 

Over their lifetime Canadians can spend more on paying their tax bill than on mortgages, cars, travel, education and other expenditures. Tax planning can be complicated, and it makes sense that many people are confused about how to manage their wealth tax-effectively and grow it to maintain their lifestyle. We can help create a financial plan that not only achieves your financial goals but also is tax efficient.

We will help guide you on ways to minimize your tax exposure, now as well as upon your passing, in these and other areas:

  • Deductions and credits Knowing all the tax deductions and credits to which you are entitled can be overwhelming. Paying the least amount of taxes possible involves knowing what you can claim and identifying strategies that could help reduce your taxes this year and in years to come.
  • Saving for retirement Are you getting the most out of your retirement resources? Remaining free of financial worries goes hand-in-hand with a fulfilling retirement. Taking full advantage of tax-minimization strategies and understanding the government benefits available to you can help maximize your retirement savings
  • Business structure planning As a business owner, you have options when it comes to structuring your business. Understanding what option is right for you will help you get the most out of the time and effort you put into your business.
  • Compensation strategies As a shareholder of a corporation, you have a choice between salary or dividend compensation. Understanding which strategy is right for you will help you maximize your after-tax cash flows.
  • Estate planning A proper estate plan can help address taxes payable upon death, whether by planning to minimize the tax bill or incorporating insurance in your financial plan.

Our team of professionals will work closely with you and your existing financial team.

Commonly Asked Questions

  • What is the purpose of tax planning?

    Tax planning strategies can reduce your tax obligations, including on capital gains and investment withdrawals. Tax management plays a crucial role in every comprehensive financial plan and should be a consideration for every aspect within it. IG Private Wealth Management focuses on minimizing tax and ways to reduce your overall tax bill as much as is legally possible.

    Source (Tax Planning | IG Wealth Management)

  • What is individual tax planning?

    Minimizing the amount of tax you pay means you keep more of your income and investment growth. This will help you meet your goals faster: from paying off debt to saving for retirement or your kids’ education.

    Source (Tax Planning | IG Wealth Management)

  • How to tax plan?

    Our team of financial planning experts, who specialize in tax, insurance, estate planning and more, created this tax planning tool to help you identify strategies that could help you reduce your taxes this year and possibly into the future. Ask our team about our the IG Wealth Management year-end tax planning checklist.

    Source (year-end checklist by IG Wealth)

  • What is tax management?

    All individuals and organizations that pay tax can benefit from tax management. Many tax credits and government assistance programs are calculated based on net income on tax returns. Using tax strategies can help ensure you maximize these benefits and credits, such as by making RRSP and TFSA contributions, so your taxable investment income is lower.

    Source (Tax Planning | IG Wealth Management)