globeandmail.com

Breaking News

globeandmail.com
Reuters


Today's Globe
Education Centre


 
Investing & Markets

Keith Damsell
Dave Ebner
Angela Barnes
Peter Kennedy
Allan Robinson
Avner Mandelman


Personal Finance

Rob Carrick
Tim Cestnick
Tony Martin
Andrew Allentuck


Financial Services

Andrew Willis
Richard Blackwell
Karen Howlett
Paul Waldie
Derek DeCloet


Economy & Industry

Eric Reguly
Patricia Best
Richard Bloom
Brent Jang
Elizabeth Church
Barrie McKenna
John Partridge
Deborah Yedlin
Mathew Ingram

-
 


  Got an 'education letter' from the taxman? Why it pays to read between the lines
TIM CESTNICK  

Thursday, April 10, 2014

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca When I was a kid, I remember being asked many times to clean my room. I never did a very good job of it. On one occasion, I recall my father sitting down with me and saying: ''Tim, I want to educate you on how to do this properly.'' It was a polite way of saying: ''If you do it like that again, you're in big trouble next time.''
FULL STORY


Five ways to boost after-tax returns on your investments
TIM CESTNICK  

Thursday, April 03, 2014

tcestnick@waterstreet.caTim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.Perhaps you've heard of Jon Jacobs, the resort entrepreneur. He hasn't made money with resorts in the real world, but in the online make-believe world of Planet Calypso. The gamer sold his make-believe real estate for $635,000 in real U.S. dollars, achieving a 35-per-cent annual return. Apparently, a study by the firm In-Stat suggests that online video-game players will invest billions in make-believe property and goods each year.
FULL STORY


It's tough being an entrepreneur - don't make it tougher by missing these tax breaks
TIM CESTNICK  

Thursday, March 27, 2014

tcestnick@waterstreet.caTim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.It can be tough being self-employed. Just ask my good friend, Claudio.
FULL STORY


Employee tax filing tips to keep the CRA at bay
TIM CESTNICK  

Thursday, March 20, 2014

tcestnick@waterstreet.caTim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.Most companies conduct employee satisfaction surveys.The problem is that many of these surveys don't get at the heart of real job satisfaction. Recognizing this, the creator of the Dilbert comic, Scott Adams, decided to conduct his own survey several years ago.
FULL STORY


Tax filing tips to relieve the financial cost of parenthood
TIM CESTNICK  

Friday, March 14, 2014

tcestnick@waterstreet.caTim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.If there's one thing I understand all too well, it's the cost of having kids. Last weekend, our daughter approached my wife with a request: ''Mom, can I have $50?''
FULL STORY


Tax deductions and credits: Here's a handy checklist for seniors
TIM CESTNICK  

Thursday, March 06, 2014

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca I have a number of neighbours who are getting on in years. There's a particular couple whom we like to visit regularly. George's short-term memory isn't what it used to be. He was telling me the other day about a wonderful new golf course that he and his wife visited last fall.
FULL STORY


In the complex world of estate planning, trust your alter ego
TIM CESTNICK  

Thursday, February 27, 2014

tcestnick@waterstreet.caTim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.Modern medicine is quite amazing. I think we're getting closer to the day when a human being can be cloned. Setting aside the ethical and legal conundrum this might pose, I can think of many good uses for a second ''me.''
FULL STORY


How to move away from the long arm of the Canadian taxman
TIM CESTNICK  

Thursday, February 20, 2014

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books. tcestnick@waterstreet.ca Back in the 1950s, Walt and Shirley - who were friends of my grandparents - were thinking of leaving Canada to move to China. His work was going to take them there. It seems that the quality of dentistry in China in the 1950s left something to be desired. So, on the advice of his dentist, Walt had all his teeth removed before moving. After coming home from the dentist, Shirley confessed: ''Walt, I don't think I want to make the move after all.'' Walt wasn't impressed. ''Hummy, you shud huf toed me dish shooner,'' he replied. They never did leave. True story.
FULL STORY


Protecting your privacy, saving taxes and other good reasons for setting up a trust
TIM CESTNICK  

Thursday, February 13, 2014

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca If you hang around a lawyer's convention, you might notice a couple of things: (1) There are many smiling, courteous people (those are often the caterers), and (2) that trusts are given different names.
FULL STORY


Family trusts: A primer on what they are and how they work
TIM CESTNICK  

Thursday, February 06, 2014

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca Have you set up a trust yet? Lots of people have. Consider Margaret Layne from London, who died in 2003 and left about $775,000 in trust for her cat. Then there's a parrot named Greeny who inherited half a million dollars in the form of a property left in trust when its owners died. Crazy.
FULL STORY


Two (relatively) painless ways to borrow in order to bolster your RRSP contribution
TIM CESTNICK  

Thursday, January 30, 2014

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.caIf there is one key difference between my wife, Carolyn, and me, it's that she's quick to ask for help if she gets lost. I'm not at all like that. I'd much rather navigate with my GPS to get me where I'm going. Heck, I'd sooner pull out a compass or navigate by the location of the sun or moon than stop to ask for directions.
FULL STORY


Stark comparisons show the importance of starting early in building wealth
TIM CESTNICK  

Thursday, January 23, 2014

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca There's nothing like an education about money while you're still young. Consider the story of Lael Desmond, a graduate student from Indianapolis who set up a discount brokerage account with Ameritrade several years ago. He eventually filed a complaint against Ameritrade to recover the $40,000 he lost when investing in high-risk Internet stocks using money borrowed on margin. Mr. Desmond's lawyer acknowledged that his client had read and signed a disclaimer that explained the risks, but he said that's beside the point. ''Yes, he agreed to it. But they shouldn't have let him,'' he said.
FULL STORY


Four more costly mistakes to avoid this RRSP season
TIM CESTNICK  

Thursday, January 16, 2014

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca Over the past 15 years, I have paid hundreds of dollars to have my home phone number unlisted.
FULL STORY


It's that time: Three common RRSP mistakes you'll want to avoid
TIM CESTNICK  

Thursday, January 09, 2014

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books. tcestnick@waterstreet.ca We all make mistakes. I think about Joseph O'Callaghan, who robbed the guard of an armoured car in 2011. He stole the guard's cash box, was caught, and was sentenced to nine years in prison by a court in Belfast. As it turns out, the box contained no money because Mr. O'Callaghan stole it while the guard was on his way into the bank, not on his way out.
FULL STORY


Okay, these aren't the most creative gift ideas - but your family will still thank you
TIM CESTNICK  

Thursday, December 19, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books. tcestnick@waterstreet.ca Last year a friend of ours faced a lot of difficulties. She went through a difficult divorce, among other things. She had worn a wedding ring for more than 20 years, and had been feeling strange not having a ring on her finger. Her daughters recognized this and for Christmas last year they bought her a ''mother's ring,'' which was set with her birthstone and the birthstones of her two daughters next to hers. She wears it every day.
FULL STORY


Seven ways to get more out of your charitable donations
TIM CESTNICK  

Thursday, December 12, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca Getting our youngest son to take a bath when he was younger was no easy task. I recall a few years ago, after what had been several weeks (or so it seemed) since his last scrub-down, I finally had to level with him.
FULL STORY


Philanthropy: Knowing why you give can be meaningful for both you and the charity
TIM CESTNICK  

Thursday, December 05, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca From the time our kids were small Carolyn and I have been talking to them about three key priorities for their money: saving it, sharing it, spending it.
FULL STORY


Cut your taxes with a loan to your spouse
TIM CESTNICK  

Friday, November 29, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca My friend Greg is thinking about what to get his wife, Janine, for Christmas. Since I've made some mistakes in my time, he approached me for advice. ''Tim, is it okay for me to give her cash for Christmas?'' Greg asked. ''Greg, that's fine if your New Year's resolution is to sleep on the couch throughout 2014,'' I replied. ''Giving her cash is a terrible idea. I'd lend it to her instead.'' You see, I knew that Greg is trying to get cash into Janine's hands so that she can invest the money. He wants to take advantage of her lower tax rates on the income she'll earn. The idea has merit - if the conditions are right.
FULL STORY


Beware the gift that keeps on taking
TIM CESTNICK  

Thursday, November 21, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca Beware that giving a Christmas gift can be a risky exercise - and even dangerous. Just ask Jonathan Cantu and Charles Kern, two men from California who gave presents to each other a few years ago and ended up injured and in jail. As the story goes, the two men exchanged gifts, and then had some kind of dispute. One of the men grabbed a flowerpot and clubbed the other over the head, so the other reciprocated and the two men ended up in hospital, then jail overnight.
FULL STORY


A clever way for Canada's working seniors to beat the taxman
TIM CESTNICK  

Thursday, November 14, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca My grandfather once told me that 75 is a great age - when you're 80. The truth is, my grandfather enjoyed his senior years. He used to say ''the older you get, the better you get. Unless you're a banana.'' Grandpa was good with his money and always thought of ways to beat the taxman. In the year he turned 71, his registered retirement savings plan matured and he took advantage of a strategy I want to share with you today. I call it the ''senior's overcontribution.''
FULL STORY


This Halloween, disguise your capital losses as your spouse's
TIM CESTNICK  

Thursday, October 31, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books. tcestnick@waterstreet.ca I can recall Halloween in 1989 and the story of a department store employee who was taking a break at the back of the store and decided to try on a Batman costume that he was planning to wear to a party that night. At that moment, a security guard came to ask for his help in catching a shoplifter.
FULL STORY


How to minimize tax on capital gains - and make the most of capital losses
TIM CESTNICK  

Thursday, October 17, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca They say a picture is worth a thousand words. In some cases, it may be worth millions. Two years ago, Christie's auction house in New York sold a photograph of the Rhine River by German artist Andreas Gursky for a record $4.3-million (U.S.). I'm not exactly sure, but I'm guessing it would have been cheaper to enjoy the same view by purchasing the actual waterfront property where the picture was taken. All I know, is that the owner of that photo made a substantial profit on its sale and probably paid a whack of tax.
FULL STORY


As year-end approaches, here are five smart ways to reduce your tax burden
TIM CESTNICK  

Thursday, October 10, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.ca The world of social media has given tax authorities a new method of identifying tax cheaters. Consider the example of Florida resident Rashia Wilson, who was caught by the U.S. Internal Revenue Service for tax fraud. According to Forbes, Ms. Wilson wrote a Facebook post that read: ''I'm Rashia, the queen of IRS tax fraud. ... I'm a millionaire for the record. So if you think that indicting me will be easy, it won't. I promise you.'' In the end, Ms. Wilson was thrown in jail in part thanks to her Facebook post. The moral of the story? Don't cheat on your taxes. And if you do, don't brag about it on Facebook.
FULL STORY


Canadians, too, need to fend off the long arm of the IRS. Here's how
TIM CESTNICK  

Thursday, October 03, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.caI want to be just like George Steinbrenner. No, I don't mean that I want to own the New York Yankees, operate a Great Lakes shipping company, or invest in Broadway theatre productions. I simply mean that I want to save more tax dollars that you can shake a stick at.
FULL STORY


A snowbird's guide to the perils of real estate
TIM CESTNICK  

Thursday, September 26, 2013

Tim Cestnick is president of WaterStreet Family Offices, and author of several tax and personal finance books.tcestnick@waterstreet.caIt was my wife Carolyn's birthday last week. Somehow I manage to mess up the gift-buying process every year. This problem dates back to the first year we were dating. She was expecting an engagement ring, but I bought her a cellphone instead.
FULL STORY

In The News
 
Mutual Fund News
Mutual Funds: A Special Investigation
Mergers & Acquisitions
Income Trusts
Streetwise Insight
Economic Insight
Analysts and Investment Banking
 
Education Centre
 
Home Page 
Investment Strategies 
Tax Zone
Financial Planning
Estate and Insurance 
Financial Courses 
Canadian MoneySaver
Mutual Fund Insight
The Wise Investor 
Value Investing Guide 
Resources
 
Newswires
 
Canada NewsWire
CCN Matthews
Filing Services Canada
GlobeNewsWire
PR Newswire
Search the News
  Symbol*

 
Keyword(s)
  Industry* 

Source 
 The Globe and Mail
 Reuters
 Canadian Newswires
 U.S. Newswires
* Can only be used when searching The Globe and Mail and Newswires.