As a collective lot of financial advisors, we focus on coming up with strategies to support each of our client’s personal financial goals. We take a holistic approach in providing impartial services to our clients and specialize in delivering well-researched written financial plans. Our personalized financial plans outline unique strategies in terms of investments, insurance, loans, taxes, and estate planning.
Planning what happens after your death is a challenge, and it is definitely not a good thing to think about. However, you are not in control of your death. So, it is only fitting that you prepare for it beforehand and choose how your loved ones will be taken care of in your absence. The best way to do this is through a life insurance cover.
We help you with this process by analyzing your insurance needs and preparing a detailed report containing the amount of coverage you should have for your loved ones to maintain the same quality of life if something happens to you. Furthermore, we find you the best insurance that aligns right with your requirements, even if you suffer from a medical condition.
For this reason, it is essential you have critical illness insurance that offers the financial assistance you require to pay off the costs that come with life-altering medical conditions. We represent an extensive array of insurance companies that provide coverage for more than 20 critical illnesses. We also have a wide variety of options in this sphere to cater to our client’s needs and affordability.
Essentially, disability insurance will work on your behalf when you can’t. It will provide you a tax-free monthly payment, thereby replacing your income and helping you pay the expenses if an illness or injury is preventing you from working.
We work with several insurance providers who feature great affordable plans for people from all walks of life, even self-employed individuals and contract employees who aren’t usually covered by employers. If you don’t know where to go with your disability insurance, reach out to us and let us help you with your needs.
At Sharptax Consulting, we help you find the right health and dental insurance for your unique situation if you aren’t covered by a group benefits plan by your employer. What makes our service unique is that we ensure the health and dental plan we find for you perfectly suits you and your family’s needs and affordability.
Right since our advent, we have been helping our clients have a great time traveling. We advise our clients on emergency medical insurance when they travel abroad or even when they visit their loved ones residing across Canada. Our commitment to caring for our customers and helping them with products that suit their needs and price is what allows us to stand out from the competition.
The Super Visa is a multi-entry visa for parents and grandparents who want to visit their families in Canada. It provides multiple entries for a period of 10 years.
When applying for Super Visa, one important requirement is the emergency medical insurance of $100,000 coverage for a period of one year. However, if you find it hard to make one lump sum premium, you can also take advantage of monthly payment plans to avail this insurance.
At Sharptax Consulting, we consider retirement planning an integral part of financial planning and believe RRSP is the perfect tool to save for retirement, particularly for clients in the high tax bracket. Our team of retirement planning experts assess the client’s risk profile and, based on the insight, offer them the best options to invest their RRSP contributions in a diversified portfolio of mutual funds offered by big names in the industry.
Alongside leveraging this excellent tax deferral strategy, we also deliver in-depth and tax-efficient plans that align the best with your finances. The roadmap for your financial future will give you a clear-eyed view of your future, so you can be sure your retirement is on track.
Registered Education Savings Plans (RESPs) is perhaps the best way to save for your child’s post-secondary education. An investment option, which is sponsored by the Canadian government to help individuals save for a beneficiary’s post-secondary education. Depending on your child’s current age and the estimated cost of university education, we will come up with a plan so you can save enough money to finance your child’s education.
Typically, when employees leave their jobs, the employers give them the option to transfer funds from their pension plan to an individual plan, called the Locked-In Retirement Account (LIRA). The amount in LIRA can only be used as retirement income or when the investor reaches a specific age. At Sharptax Consulting, we are experienced in handling the entire process of pension transfer and managing LIRA account for our clients.
We can help you get direct and complete access to a wide array of investment options and help avoid the uncertainty that is common with retirement income. So whether you have left a former employer and have vested contributions, or are concerned about the stability of your retirement savings with your current employer, reach out to us, and we will help you tap into higher returns with less expected risk.
A RRIF is a federally registered account that will offer you a consistent flow of income to tap into during retirement. It can basically be thought of as an extension of the RRSP account that matures at the end of the year when the account holder turns 71. When your RRSP account matures, you have two options—first, withdraw all the amount, which could result in a huge tax liability. Second, convert the RRSP account into a Registered Retirement Income Fund (RRIF).
A RRIF only allows you to make withdrawals, and the account holder has to mandatorily withdraw the minimum amount every year. Having assisted numerous clients with their RRIFs, we are well-equipped when it comes to helping you tap into the benefits of RRIF accounts from well-reputed investment companies.
Another great investment product to grow your money tax-free, the TSFA is perfect whether you are saving to purchase a home, start a small business, or go on a family vacation. Typically, there are no restrictions on how and when the TSFA funds can be used. But, the only drawback is that it doesn’t offer tax deductibility on your contributions, like with RRSP.
On the bright side, all your investment growth within this account is tax-free. So if getting a TFSA is on your to-do list, don’t look further. We will review your personal financial situation and figure out how you can optimize and set up a TFSA account.
At Sharptax Consulting, we set up non-registered accounts for clients who have already topped up their RRSP and TFSA contribution rooms. Since these Investment accounts are not tax-free, it is imperative you plan well to minimize tax liability. But, don’t worry, we can do it on your behalf.
Alongside the competitive edge, group benefit plans help companies retain good employees and enjoy tax deductions on the premiums paid. We represent several insurance companies, who offer group benefit plans for businesses at competitive rates. Reach out to us for a free quote and consultation.
Our experts will advise you on using the various tax allowances for gifts, passing on a pension as part of your estate planning, setting up trusts for complex gifting, creating a gift for someone unable to look after it themselves, figuring out the amount of money you can afford to give away without causing a hurdle to your own lifestyle, and even planning for later life.
Unlike what you think, estate planning is a crucial part of financial planning, and it involves more than just handing over your money to your heir when you pass away.
Sharptax Consulting can help you with the many objectives involved in estate planning, such as designating an executor, bequeathing the assets to your heir, and more. Our main objective is to facilitate a tax-efficient transfer to the next generation when our client passes away. So, while preparing a plan for our clients, we ensure that every aspect of estate planning is covered properly. Thus, when the time comes for the wealth to be transferred to the heir, it happens smoothly and in the most tax-efficient manner.
We come up with customized plans to help you balance the books and pay off the debts faster when you are financially overwhelmed. What’s more, we make sure you pay the lowest possible interest rate through various strategies. Reach out to us to learn about the debt solutions available to you, so you can opt for the right debt relief solution at the earliest.