In this episode of Smart Wealth, Brett Cranson and Omari Whyte discuss the importance of tax planning as the tax season approaches. They emphasize the need for early preparation, especially for cross-border tax considerations, and the significance of understanding tax implications on investments. The conversation highlights strategies for maximizing tax efficiency and the importance of keeping organized records for tax filing.

Takeaways

• Tax planning is an ongoing process, not a last-minute rush.
• Understanding cross-border tax implications is crucial for clients with international ties.
• Early planning can significantly reduce tax liabilities.
• Non-registered investment fees can be tax-deductible.
• Clients should keep thorough records for tax filing.
• Investment strategies should consider tax impacts.
• Tax planning should start well before the filing deadline.
• Communication with tax professionals is essential for effective planning.
• Maximizing after-tax dollars is a key goal in wealth management.
• Financial literacy is vital for navigating tax complexities.

LinkedIn Brett Cranson: linkedin.com/in/brettcranson

LinkedIn Omari Whyte: linkedin.com/in/omari-whyte

For business inquiries, please head over to

https://www.uptownwealthmanagement.com
https://www.familyfirstadvisors.ca

email:

[email protected]

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Brett Cranson & Omari Whyte have been helping Canadians with their Financial, Retirement and Estate Planning since 2003. Our office is based in Toronto, ON, Canada - but help Canadians Coast to Coast.