In this episode, we sit down with Mohammed Al-khooly, tax expert, Twitter sensation, and co-founder of Copilot Tax, to dive into the world of income splitting. We unpack how TOSI works, who it applies to, and the common pitfalls that business owners face.

Are you thinking about setting up a holding company? Before you do, tune in to this episode of Mind Your Money! Host Mehul Gandhi sits down with CPA and founder of Simplify Accounting, Shawn Gander, to break down everything business owners need to know about holding companies—what they are when you actually need one, and why too many entrepreneurs set them up for the wrong reasons.

Canada's national pension plan, the CPP, is a cornerstone for retirees in Canada. Gaining a deeper understanding of the pension scheme and its recent enhancements is crucial to your retirement. Mehul interviews Aravind Sithamparapillai and Jason Yee for a deep-dive into CPP and the recent enhancements. We hope you enjoy the episode

Individual Pension Plans (IPP) have been described as corporate RRSPs or 'Super-Charged' RRSPs. They are essentially defined benefit plans for private corporations and incorporated professionals. IPPs are not very popular, but recent tax changes are giving these retirement savings vehicles more attention. Mehul interviews Navaz Cassam, President of the Alberta-based actuarial firm, GBL Inc. on all things IPPs

In this episode of the Mind Your Money Podcast, Mehul Gandhi sits down with Joey Basque, to delve into the essentials of financial planning for retirement. Their discussion focuses on establishing a solid foundation for retirement income planning and highlights vital components that both pre-retirees and retirees must contemplate. Tune in to gain valuable insights and strategies to ensure your financial stability in retirement. Enjoy the episode!

The first home savings account is a type of registered account that was designed to help individuals save for their first home purchase. If you are a resident of Canada with a valid SIN, are the age of majority in your province, and are considered a first-time home buyer, you may be eligible to open a FHSA.

The TFSA can be a very powerful tool for wealth generation. Investment income earned inside your TFSA (interest, dividends, and capital gains) do not create an income tax liability. Gains are truly tax-free.

Having a good financial plan in the event of a critical illness is crucial.