Advisor.ca's top 10 tax stories of 2009

(November 2009) Over the course of the year, the staff at Advisor.ca has written a plethora of articles about pressing tax issues. Don’t worry if you’ve missed some of these gems — we’ve made sure to highlight a few of the pieces that readers found especially important this year.

Tax brackets, figures and details for your practice (the 2009 edition)

Way back in January, we outlined the tax changes people could expect for 2009. Important information on tax brackets, basic personal amounts and federal tax credit information is listed in this story. But best of all? There’s a handy downloadable fact-sheet for you to print out.

TFSAs and estate planning

The tax-free savings account was, not surprisingly, one of the hottest topics this year. In this story Mackenzie Financial’s Wilmot George discusses what happens to a TFSA when the account holder dies.

TFSA holders don’t understand death benefits

Clearly, what happens to a TFSA after death is a popular subject among Advisor.ca’s readers. Senior reporter Mark Noble delves into this topic and finds out that a beneficiary can be named to bypass probate taxes.

Tax tips for ’09

Every April, Advisor.ca offers up another batch of tax tips. This story covers some of the changes that happened in 2009, including how to turn losses into gains, claiming medical expenses and filing tax returns for kids.

TFSAs and non-registered accounts

When the TFSA launched in January, financial planners found themselves in a quandary. How can the new account be introduced into a client’s plan, and should it replace anything that already exists? Fidelity’s Michelle Munro tackles the latter question, specifically, Should clients put money into a TFSA or a non-registered account?

Bequeathing the family cottage

It’s an issue that’s dear to many baby boomers — what’s the best way to transfer the family cottage to the kids? Michelle Munro, one of our regular tax columnists, lays out what taxes clients will have to pay and how they can minimize the damage.

Supreme Court Lipson decision due out tomorrow

One of the more important tax-related court cases of 2008 involved two brothers who applied the “singleton shuffle” to their financial affairs. This story came out in January of this year, the day before the Supreme Court ruled that the Lipsons were in violation of the General Anti-Avoidance Rule. The article’s a good refresher on what the case was all about.

Four pillars of tax-efficient investing

Tax-efficient investment solutions are becoming increasingly important. Fortunately, helping your clients reduce their tax burden isn’t complicated. This story outlines four basic tax-efficient strategies, including how to minimize taxable distributions to encourage compound growth.

Estate planning 101

Estate planning is a touchy subject. It involves conversations about wills, money, lawyers and that always-uncomfortable topic: death. But if it’s not done correctly, a client’s kin may be left with a lot less than they should get. This story’s a great refresher on the right way to create an estate plan.

Cheap U.S. vacation property = big estate tax consequences

Who doesn’t dream about heading south for the winter and moving in to a brand new — and now cheap — American home. If clients of yours want to act on that dream, this story will tell you how they can do it. And it’s not easy, especially when U.S. estate taxes are involved.

(11/17/09)