Record Stock Market Highs & Income Tax Deadlines
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Since November of 2023, Global Stock Markets have been on a fantastic rally1. Obviously, this hasn't been a straight line up, but there have been a lot more good days than bad days.
The US Stock Market has hit numerous new record highs this year2. A number of European Countries have hit new highs and even Japan, a country who had seen a peak on their Stock Market way back in 1989, has finally got back to new highs3.
The Canadian Market had really lagged a number of global counterparts. This March, our...
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Planning Ahead Eases Tax Audit Worries
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A letter arrives from Canada Revenue Agency (CRA). You are being audited. Panic ensues as you wonder what you did wrong and why the CRA is targeting you. ’There must be bigger fish to fry,’ you might say to yourself.
The first thing you need to do is relax and take a few deep breaths. If you have a qualified tax advisor on your team, you have nothing to worry about. If you don’t, now is a good time to contact a professional tax planner to review your returns and assist you with the audit.
Unless you have filed your tax returns with gross negligence or displayed willful non-compliance, you are not in any ’real’ danger from the taxman. At the same time, no one wants to pay additional taxes and penalties due to an oversight. That’s why tax planning is so critical. Instead of scrambling for deductions to reduce your taxes...
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What’s Your Retirement Planning Mindset?
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Recent studies * reveal that a large majority of so-called Baby Boomers are uncertain about their preparation for retirement. Arguably, the have it my way generation did not all follow in their parents’ footsteps when it came to saving for the future. As well, some major bumps along the way (a housing crisis, a stock market crash, a global financial crisis and a pandemic) have reduced many retirement ’nest eggs.’
There is a new normal retirement being forged that is changing all of the old retirement rules, and raising new questions about what the ’golden years’ should look like. With time being their most precious commodity, wise decisions made by Baby Boomers today are becoming much more critical. This is where a proper retirement planning mindset becomes critical. One can choose to either move forward with eyes glazed over, or wide open to enjoy the ride...
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If there is no struggle, there is no progress.
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Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus of the mutual funds in which you invest. The information in this email newsletter is general information only and is not intended to constitute specific legal, accounting, financial or tax advice for any individual.
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Borden Financial Services 1076 Prestwick Circle SE
Calgary, AB T2Z 3M2
Ph: (403) 984-4787
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