AVA AZADIAN

Selling stocks at a loss can offset taxable capital gains. Before repurchasing the same stock, consider the superficial loss rule and its deductibility implications.
Near year end, consider delaying billing, invoicing, or stock sales at a gain until the new year to plan around your total income.
Charitable donations can reduce taxes through a federal credit. Families may increase their credit by claiming their combined donations on a single taxpayer’s return.
A spousal loan can allow investment earnings to be taxed at the borrowing spouse’s bracket. The agreement should specify repayment terms and prescribed interest.
Review your federal tax bracket and consider donations, delayed earnings, or a retirement savings contribution. An investment adviser or experienced accountant can help.

Alberta Year-End Tax Moves to Consider

In Canada, a tax-free account and a registered retirement plan offer different tax advantages, and using both can support saving for retirement.
Investment income in a tax-free account is tax-free, and withdrawals carry no tax liability, making it a potential home for growth investments.
Contributions to a registered retirement plan provide a tax deduction for the same calendar year, potentially lowering taxable income during peak earning yr.
Investment income stays tax-free inside a retirement plan, but withdrawals are treated as taxable income and taxed at your marginal rate.
For retirement planning, consider holding steadier, lower-risk investments in the retirement plan and waiting until retirement to withdraw, when income may be lower.