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Infinite Banking Concept: Key Strategies for Canadian Wealth Building

Our Infinite Banking guide empowers you on your wealth-building journey.  Purchasing a new home Planning for your children’s education Aiming for a comfortable retirement Stroll down the path to financial freedom with our Infinite Banking Concept. At SmartWealth Financial Incorporated, we’ll work together to turn your financial dreams into reality.  Contact SmartWealth Book an Appointment …

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Final Expense Insurance in Canada: End-of-Life Coverage Guide

A final expense insurance in Canada aims to ease the financial pressures of end-of-life costs, providing peace of mind to policyholders and their loved ones. These life insurance policies usually cover expenses such as funeral arrangements, unpaid bills, and any other immediate costs related to a person’s death. This type of life insurance policy helps …

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What Happens If You Can’t afford a funeral in Canada?

Dealing with the loss of a loved one in Canada is challenging, especially with the added stress of funeral costs. Government programs, community support, and private insurance can provide financial assistance. Specific grants and programs cover burial or cremation expenses, with provisions for counseling. Legal frameworks may use the deceased’s estate, and there’s tailored assistance …

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Government Assistance with Funeral Costs in Ontario

In Ontario, dealing with the emotional challenges of a loved one’s death is compounded by the financial strain of funeral expenses. The government provides financial assistance through programs like Ontario Works, covering costs such as body transfer, cremation, burial plots, caskets, or urns. Understanding eligibility and the application process is crucial for those in need …

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When Are Taxes Due in Canada: Due Dates and Payment Dates

Canada’s annual tax filing season brings crucial deadlines that every Canadian taxpayer must remember to avoid penalties. Generally, the due date to file your income tax return is April 30. However, if this date falls on a weekend or a public holiday, the Canada Revenue Agency (CRA) allows the return to be filed on the …

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Can You Claim Physiotherapy On Your Taxes in Canada

You might wonder if you can claim physiotherapy on your taxes in Canada. Generally, you can claim the cost of physiotherapy as a medical expense on your taxes and reduce your taxable income. However, the Canada Revenue Agency has specific guidelines and stipulations on this. This article will discuss how you can claim physiotherapy on …

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How To Be Your Own Bank in Canada: Infinite Banking Strategy

Have you ever wondered how to be your own bank in Canada? If you’re on a journey towards financial independence, you might have come across the concept of infinite banking. In Canada, this can be achieved by implementing a dividend-earning, permanent life insurance policy designed for wealth accumulation, which allows you to borrow against its cash values …

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How to Get Short-Term Disability Approved While Pregnant

If you’re pregnant and living in Canada, navigating the complexities of short-term disability benefits can be pretty challenging. However, there’s no need to worry, as we have compiled a comprehensive guide that will help you understand the process and provide the necessary tools and knowledge to secure these vital benefits. The focus is to demystify …

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Buy Sell Agreement Life Insurance: Guide for Partners

A buy sell agreement life insurance policy provides business owners financial protection and business continuity benefits. It ensures that the business remains operational after a partner’s death and offers financial security for the remaining partners and the deceased’s family. Key Takeaways Life insurance policies fund buy/sell agreements, which determine how a business’s remaining partner(s) will …

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What Is Taxable Capital Employed in Canada

Accurately calculating Taxable Capital Employed can help you optimize tax planning and ensure compliance. If you own a big Canadian controlled private corporation and want to know more about how taxable Capital employed affects your tax liabilities and eligibility for tax benefits, this article is for you. It provides all the essential information to understand …

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