In about a week, we kick off with our annual Chess & Fun Summer camp in Oakville. It’s an awesome week of chess, soccer, basketball, money lessons for kids, and other fun activities for kids aged 5 and 14. It’s certainly one of my best weeks of the year. We only have a few spots left so, if you’re looking for Summer camp ideas for your kids, I invite you to sign up and join us. Enjoy this issue where I share valuable ideas on tax and financial planning. Please remember to share this with everyone in your network: 1. Fun Summer Chess & Fun Camp in Oakville If you don’t have Summer plans for your kids or if you’re looking for an additional option, we run a one-week Summer Chess & Fun camp in Oakville. We are excited to announce that our 2024 Summer Chess & Fun camp will take place first week of July from July 1 to July 5, 2024. Our Summer camp is fun with chess, soccer, basketball, money management for kids, and other fun activities. Kids come out of this camp equipped with new skills, particularly, the money skills that many kids lack. At the end of the camp, in addition to elevating their knowledge of chess, your kids will know the difference between assets and liabilities; good debt and bad debt; assets that grow in value and assets that depreciate in value; the importance of saving, and many more. To learn more about our Summer Camp and to register, click here. And for a one-minute video of one of our 2023 camp, click here. 2. Taxes Will Set You Back If You Continue Doing What You’re Doing… There is no doubt that taxes will increase in the coming years with the massive deficit our government is currently running. We’ve seen this recently in the 2024 budget proposal to increase capital gains taxes by the Liberal government. As you know by now, these taxes will be major obstacles as you plan to build long-term wealth. So, what’s your plan to combat these taxes and grow your wealth? Well, I have good news for you! In this short video, I share more about the tax-efficient membership network where our overriding goal is financial transformation. Together, we learn how to build a Tax-Smart Plan that will allow us to:
Check out the video here to learn more. And if you have any questions regarding our membership, you can schedule a FREE no obligations call with me here. Note: Joining our membership is only open for a limited time till the end of this month, June 30, 2024 before we formally close this until a later date. 3. Do You Own A Corporation With A December 31 Year-end? If you own a corporation with a December 31 year-end, your filing deadline is the end of this month, June 30th. As some of you may know, we provide a number of services for corporate clients including the preparation of your compilation financial statements and preparation and filing of your corporate tax returns. In addition to these, we provide other additional value-added services such as:
If you’re looking for solutions for your corporation consider working with me and my team at GMS Professional Corporation. Check out our standard service offering for corporations here. And when you’re ready to have a chat, book a time with me here. 4. The Three Accelerators of Wealth Why are the rich getting richer and everyone else getting poorer? Are the rich smarter than the rest of the world? Are they more talented? What do they know that the rest of the population does not know? The answers to these questions can be varied and sometimes complex. It is certainly true that there are things that the rich know that the rest of the masses don’t know. In this article, I share three powerful accelerators of wealth that the rich have mastered. You too can learn more about these accelerators, master them, and employ them in your strategy as you build and grow your wealth. Read the full article here. 5. The Top Ten Reasons Why You Pay Too Much in Taxes Whether you like it or not, taxes affect all of us. In fact, it is probably your biggest household expense (assuming you have a decent job or business). Yet, most people do nothing to manage their taxes. In this article, I discuss the top 10 reasons why you may be paying too much in taxes. Reasons ranging from lack of periodic tax planning, lack of optimization with family members and a lack of basic knowledge of our Canadian tax laws. This is one reason I created the Tax-Efficient Membership Network, a platform of like-minded people on a success path to tax-efficient wealth. If you want to build a life with little or no money problems, I invite you to check us out here. |
This weekend we had the pleasure of seeing this incredible broadway show in Downtown Toronto, “The Lost Heros of Oro”. It’s an incredible story written and directed by Alinka Angelova. A story that shines a light on the founding of the African Methodist Episcopal Church which acted as the final marker signifying freedom for those slaves traveling to Canada. This story brings a unique part of Canada’s history to the fore. It is an intriguing history lesson wrapped up with a song. You will love...
For those of you involved with Charitable or Not-For-Profit organizations in general, it is important that you are familiar with many of the compliance-related changes that are currently effective for these organizations. In this issue of my Weekly Top 5, I invite you to join us for a FREE webinar next week on all you need to know about leading/managing a Not-For-Profit organization. I also share other valuable tips and resources in this issue. Enjoy and please remember to share this with...
I trust most of you are already off to a great start for the year. At GMS, we’re making some significant changes this year as I share in this issue. As part of this transition, we took a few days off to Puerto Plata in Dominican Republic as a team to plan and play in preparation for the upcoming tax busy season and the new initiatives we’re implementing this year. It’s going to be a busy year but we’re excited about the future of our firm and the clients we serve. I wish you a wonderful 2025...