Quotes of the Day

If I was in a high-income bracket and had maxed out on my contributions to RRSPs and TFSAs, but I still wanted to invest more, real estate might be the way to do it. It's more tax-effective than some types of investment. Also, it would be a good way to take advantage of low interest rates. [2021] - Frederick Vettese

In a perfectly integrated system, the amount of total taxes paid by the individual and corporation will be identical to the total taxes paid by the individual alone, regardless of the individual's marginal tax rate. Taxpayers and their advisors must carefully review the salary/ bonus / dividend mix that generates annual taxable income for each family member. For more profitable corporations, it might make sense to reduce taxable corporate income to stay bellow the federal Small Business Deduction (SBD) $500,000 by paying out a year-end bonus, which will be personally taxed as salary. If the corporation earns more than $50,000 in passive investment income, access to the SBD is affected. [2020] - Evelyn Jacks

The personal information record is normally kept with your will, for example, in your safety deposit box, with an extra copy kept at home. [2006] - Douglas Gray

Look forward three to five years and identify the additional skills and competencies you will need to be at the top of your field at that time. [2004] - Brian Tracy

Farming is designed to generate future business. You should not start farming unless you have at least 500 people. Farming is more focused on doing direct mail. Delegate to someone the job of mailing 1,000 pieces a month. The main reason most farming efforts fail is lack of consistency. Eventually, after about a year or so, you'll start to get a steady flow of business from your farm. [2003] - Darryl Davis