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An important aspect of any financial plan is ensuring that wealth is not lost through improper income tax preparation and planning. Integra Wealth Builders pride themselves on understanding the taxation impacts of investing and insurance planning. Through proper structuring one's finances, substantial income tax savings can occur. Examples of such planning are as follows:

- Holding Fixed-Income Investments in Registered Plans to shelter their high level of taxation
- Attributing eligible deductions to the higher income spouse
- Structuring insurance to maximize tax benefits within a corporate setting, when possible

In all cases, your entire financial picture should be discussed with a professional to ensure that eligible deductions, structures and expenses are in accordance to the Income Tax Act (ITA). For example, your specific situation as a business owner, pensioner or medical professional can greatly influence your eligible deductions.

To ensure that you are maximizing available deductions, ask yourself the following questions:

            • Does your income tax preparer know your personal situation well enough to notice when you miss a slip?
            • Are you maximizing your eligible splittable income?
            • How long does it take to get your income tax filed, and are you paying too much?
            • Do your accountant and investor advisor coordinate to ensure that you make use of all available credits and deductions?

It is important that all individuals focus their tax savings efforts on deductions and credits that are available under the rules and regulations set forth by the ITA, rather than trying to play around them. For the careful planner, the opportunities are present and should be maximized when appropriate.

"Income Tax Planning is like playing basketball against the referee,

you can only win if you play by the rules."

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