KLT Wealth Management | Tax Planning

Tax Planning

“Nothing is certain except death and taxes'”

Benjamin Franklin

Everyone must deal with paying taxes in some form or fashion – income taxes, sales taxes, estate taxes, property taxes, taxes on investments or running a business – taxes are everywhere.

Tax planning is about making your portfolio and financial plan tax-efficient by avoiding and mitigating taxes where possible, allowing your money to stretch farther.

“A person doesn’t know how much he has to be thankful for until he has to pay taxes on it”

Ann Landers

Planning for Taxes

The government has provided several opportunities to help lower your tax burden at both the federal and provincial levels. Tax planning is about identifying opportunities within the tax act that apply to your situation and implementing the necessary tools to save - retaining more of your money for your own goals.

Strategies can include:
‍

Sheltering investments in registered accounts
Naming beneficiaries when possible
Managing capital gains and losses
Charitable giving
Making RRSP or FHSA contributions
Managing taxable income sources in retirement

Tax rules and opportunities can change at any time. Having a financial planner to help you adapt your financial plans and who is willing to coordinate with your accountant, when necessary, is vital.
‍

Quintessence Wealth (Q Wealth) is a partnership that is registered as a portfolio manager, exempt market dealer and investment fund manager. The portfolio manager registration allows Q Wealth to provide investment advice to its clients. The exempt market dealer registration allows Q Wealth to engage in trading activity. These services are provided by Q Wealth through registered advising representatives and dealing representatives, respectively.

Q Wealth is a partnership that is owned by its partners, including KLT Wealth Management. As a client of Q Wealth, you may receive services from both Q Wealth and KLT Wealth Management. Note that individuals from KLT Wealth Management will only provide investment advice and trading advice if they are registered as advising representatives and dealing representatives of Q Wealth, and in providing such services, they will be doing so on behalf of Q Wealth only. KLT Wealth Management may however provide wealth management services such as financial planning, estate and retirement planning, insurance, group benefits and others.

Q Wealth Partners is a registered trade name of Quintessence Wealth, a registered as a Portfolio Manager in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan and Yukon, an Investment Fund Manager in Newfoundland and Labrador, Ontario, and Quebec, an Exempt Market Dealer in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Quebec, and Saskatchewan, and a Commodity Trading Manager in Ontario. The Ontario Securities Commission (OSC) is the principal regulator for Quintessence Wealth. Please visit www.qwealth.com for more information.