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We’re now less than two weeks to the personal tax return filing deadline. While many have already filed, I know most will be filing in the coming two weeks. One of the topics I discussed in my book, Tax-Efficient Wealth is the importance of knowing your marginal tax rate. I get excited and my clients also do, when we see this in action as we prepare and file personal tax returns. It is real and it is extra dollars in your hands when you understand how this works. I share more about this in this issue as well as other key tax and financial planning tips to help you navigate both simple and complex tax situations. Enjoy - and please share this with your network: 1. Know Your Marginal Tax Rate (Or Pay More Tax Than You Should) Most Canadians know they “pay tax,” but very few know their marginal tax rate - the rate they pay on their next dollar of income. Your marginal tax rate is a reflection of how powerful your RRSP contributions are, how valuable a deduction will be, and how much extra tax you’ll pay on a bonus, side income, or a big investment sale. In my latest article, I break down marginal tax rates in simple, practical terms: what they are, how they actually work in Canada, why your average tax rate is not the same thing, and how to use your own marginal rate to make smarter decisions about RRSP vs. TFSA, timing income, and structuring your salary, dividends, and investment income. If you’re earning a decent income and want to keep more of what you make this year (and every year after), this is a must‑read. 👉 Read the full article here:https://kengreen.ca/marginaltax/ 👉 And if you want the full blueprint, you can order my book Tax-Efficient Wealth here: https://kengreen.ca/book/ 2. Registration is Now Open for the 2026 Tax-Efficient Wealth Summit We are excited to announce that EARLY BIRD registration is now open for this year’s Tax-Efficient Wealth Summit taking place on Saturday, June 20th in Mississauga. This year, we also have a LIVE online stream option if you want to join us virtually. If you’re considering ways to minimize your taxes and build wealth in a tax-efficient manner, then you should make plans to join me and my guest speakers at this year’s Tax-Efficient Wealth Summit where we will focus on the 3 key tax-efficient asset classes used by the wealthy to build and accelerate wealth. For those attending in-person, you will have the opportunity to connect with others just like you and potentially build new relationships. For all attendees, it’s a great learning environment with the great speakers we have lined up this year You can get all the event details and register here. 3. Ten Mistakes to Avoid as You File Your Personal Tax Returns Most Canadians rely on DIY tax software and assume that’s enough—but the real cost is in the mistakes you don’t see. In my latest article, I walk through 10 common (and expensive) errors I see every year: from over‑claiming self‑employment expenses and ignoring carryforwards, to missing powerful credits and mishandling CRA reviews. I also show you the key numbers you should pull from your return—your actual tax paid, average and marginal rates—and how to use them to pay less tax next year, not just “get a refund” this year. If you’re serious about keeping more of what you earn in 2026 and beyond, this is a must‑read. 👉 Read the full article here: https://kengreen.ca/10mistakes/ 4. Why More Money Will Not Solve Your Money Problems Not too long ago, in an email shared by Rob Minton, one of my mentors, he concluded that… Money problems ALWAYS flow from thinking problems. I thought this was an interesting conclusion as it directly relates to our money mindset. Rob goes on to share how we see this in real life by studying lottery winners. Within a short period of time, they go from money problems to having lots of money and then to having money problems again. So, more money usually doesn’t solve money problems. To solve money problems you have to change how you think about money. This comes down to your money mindset, which is the subconscious feelings and thoughts we develop towards money from our life experiences. A money mindset is your unique and individual set of core beliefs about money and how money works in the world. It is your overriding attitude about money. It shapes what you believe you can and cannot do with money, how much money you believe you’re allowed, entitled, and able to earn, how much you can and should spend, the way you utilize debt, how much money you give away, and your ability to invest with confidence and success. When it comes to money mindset, there are two extremes:
Most of us will fall in between these two extremes. It is important to know where you stand and to begin to work to develop the right money mindset. You can use this FREE resource to take a 2-minute money mindset test to give you a sense of your current mindset when it comes to money. So far, 44% of those that have taken this test have an abundant money mindset. What about you? Take the test here. 5. Why Excuses Will Hinder Your Freedom It’s easy to make excuses and we are all familiar with them. I can’t attend a conference because I don’t want to fly or because it is too expensive; I can’t buy real estate because it is too expensive; I can’t save because my income is low; etc. You must realize that excuses will hinder your ability to make meaningful change in your circumstances. You cannot stay where you are and expect to change your life. Make a commitment to yourself today to stop making excuses. Rather, challenge yourself on how you can overcome excuses. You need to get around the right people, the right thinking, the right energy if you want to change your life. |
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Happy Thanksgiving weekend to all of you! I trust you have many things to be thankful for as you take time to celebrate and share a meal with family and friends. While taking a break this long weekend, it's also a great time to reflect and plan for the remainder of the year. In this issue, I share some recent tax developments and court cases that could impact your real estate, employment, and personal financial planning. Enjoy this issue and please remember to share this with everyone in your...
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