Seventy-five years of combined experience at WealthCo has taught us that to be successful at building wealth for our clients, we had to be successful at building relationships. We've formalized the process that we've been using since 1999 to help our clients and their families create and realize their personal financial vision. Our wealth management experts work with your current professional advisors so that our network of independent specialists can ensure you are on the right track - now and into the future.
Our process includes 5 steps:
Step 1: Vision Blueprint
You would never build a home without a blueprint... why build a financial plan without one.
Step 2: Personal Financial Profile
A clear understanding of where you are today will pave the path to where you want to be tomorrow.
Step 3: Wealth Expander
We aren't looking to invest your money - we are striving to invest in your future.
Step 4: Event Navigator
Think of us as your project manager - making your blueprint a reality.
Step 5: Wealth Enhancer Review
Engineering your assets to their fullest potential - now and into the future.
If you or a friend could benefit from our Wealth Enhancer process, please call to set up your free initial consultation.
Tax Tips for Business Owners
Take Advantage of income splitting by employing your spouse or children. Remember, though, that family members must actually do the work, and their salaries must be reasonable.
If you pay salaries to family members, those people may become eligible for Canada or Quebec Pensions Plans (CPP/QPP) and RRSP contributions. We work with your tax advisor to come up with an optimal solution for your situation.
If you have a home office, you might be suprised at the variety of expenses you can deduct at tax time. They include business portion of rent, mortgage interest, property taxes, utilities, home insurance, repairs, maintenance and even landscaping. Have a separate phone line installed to maintain accurate records for deductions.
If your business incurs non-capital losses and you're not incorporated, you can save taxes by applying the losses against any other income source reported on your tax return for the year.
With some restrictions, you can deduct the costs of attending two professional conventions each year as long as they relate to your business.
These tips courtesy of Manulife.
Highlighting Abel Creek
As a part of our revised newsletters we'd like to highlight a product solution that we use with success. The first in this series is a First Mortgage Pool which makes up an important part of a diversified portfolio.
- Average Rate of Return over the past 3 years has been 9%*
- 2010 year to date Rate of Return 9.08% if you reinvest your distributions and 8.86% if you take them out as cash*
- Fund was established in 2004
- Invests in short-term First-mortgages located in Western Canada
- Diversified Portfolio Holdings: new construction products, land developments, income producing properties
- Current pool consists of thirty-two, First-mortages and over $15 Million in investment dollars.
- Investors earn a blended rate of return based on the interest earned on each respective mortgage
- Similar to segregated funds and mutual funds, a Mortgage Investment Corp (MIC) provides a convenient way to diversify your portfolio of investments
- Unlike a segregated fund or mutal fund, your money is secured by real estate (which is generally not influenced by the unpredictability of the stock market)
- Investors can choose to receive monthly distributions or have their distributions reinvested
If you'd like to learn more about Abel Creek, please give our office a call or email me at firstname.lastname@example.org.
*past performance is not indicative of future performance