Liz Leckie- IG Wealth Management
520 Main St. L7G 3S8 Glen Williams, ON, Canada

Quick PSA reminder! Today is the last day for RRSP contributions to be counted against your 2020 tax year. Any contribution made before midnight will be eligible. Also true: the second picture is a real life depiction of financial planners and accountants, who have been running drafts and who are racing T4/T5 slip deadline for companies, which is also today. Melissa Therrien ... Vicky Harrison Brandon Parkes - IG Wealth Management #bekind #sendcoffee

This is one of the larger tax questions this year, here’s some clarification on the home office expense claims and reporting. It will be important to work with your accountant this year to determine if a flat rate or the detailed method is more advantageous to you depending on what you qualify for. https://www.cpacanada.ca//2021-02-09-home-office-expense-c

Sending a little extra love out to friends, family, colleagues and clients today! We hope it’s an Eat the icing right out of the container kind of day for you all! -We love ya is an understatement Huge thank you to John El Masarani at Verico Fair Mortgage Solutions inc. for being one of our favourite colleagues and dropping some Valentine’s Day activities at our door!

2020 was an irregular year and so is this year's tax and RRSP Planning. As we approach the 2020 RRSP First 60-day deadline (MARCH 1, 2021). Many people had a combination of income/government grants and payouts that make their tax and mitigation strategies less clear. Here are some of the common scenarios that are worth spending some time on to make sure your refunds are healthiest and your tax bills are the lowest: -Self employed individuals- RRSP contributions directly redu...ce income subject to tax and can decrease overall taxes owing. -Capital gains on rental properties/vacant land sold in the 2020 year. In addition to reduction measures of costs associated with sale and capital improvements an RRSP contribution can allow you to keep your gains to your benefit and in cases where there is enough room, mitigate them entirely so they aren't added as additional income in the year of reporting. -T4 income employees who are looking to recouperate some of the taxes paid at source. RRSP contributions are applied directly against your taxable income and you are credited for a reduction of the taxes owed at your new amount. (example: you make 105,000 a year, you fall in the 43% bracket, you paid $27,101 income tax at source between federal and provincial taxes in 2020, a 10,000 controbution keeps you in this bracket and you now only owe $22,760 at your new 95,000 income (105,000-RRSP contribution) therefore you are refunded the diffference which in this case is: $4,341. -Reducing amount owing on CERB (which was not taxed at source), contract income (T4A) and other sources of income (including rental income) that you could owe tax on when filing. -Payouts/severence packages from employers, in 2020 a record number of these were paid out and many had a taxable portion of payout or paid out ontop of regular salaries for the year. RRSP contributions can help mitigate these and in some cases eliminate taxes owing entirely to be taken out at a later date when it's more favourable. RRSP's are one of the most misunderstood vehicles and their applications have a vast amount of advantages from income splitting, to tax efficieny, to facilitating income attribution and transfers from one spouse to another. Always happy to have a conversation should any of these situaitons apply to you and I highly recommend for those who do work with an accountant to reach out about the draft taxes process to make sure you're in the best situation when you formally submit your taxes before April 30. Feel free to DM, reach out by e-mail at [email protected] to book a virutal consultation and see if there's anything we can do to help in the next few weeks!

While we knew this lockdown was probable, it doesn’t make isolation, trying to run a business, homsechool your children or any combination of the above any easier! While we wish we could hug everyone in person and have lunch together, we teamed up and supported another local business Good Grazers who put these beautiful charcuterie boxes together to show our appreciation and support to colleagues and fellow business owners in our community! We doubled our effort with an equ...al donation to the Georgetown Bread Basket to support those in our community who have been affected during this time. We miss your faces is an understatement! Melissa Therrien Therrien Accounting

Most heartfelt thank you to Nick Wallace for bringing a bit of interactive, mind blowing magic into the homes of clients, family, friends and colleagues! It couldn’t have been a more fun virtual event and we are so grateful for all who joined! Therrien Accounting... Verico Fair Mortgage Solutions inc. www.nickwallace.com

With more news of stay at home orders and lockdown extensions..#tb to the joy our community created for one of four of our long term residences! Thank you Amica Georgetown for being elves and delivering gifts on our behalf! The George Clooney pillow reaction is everything.

While we are so fortunate during this time to be privileged enough to work and to provide support to our financial planning families and grow as a practice; supporting our community, the small businesses in Halton Hills and those who need it most will be by far our investment with the greatest return for 2020. It’s been a tough year to say the least but our town’s resiliency and community spirit was the shining light and has left us completely inspired. With the large hel...p of our community and other amazing local business partners here is some of the good that happened in 2020: -$15,000 of much needed items raised and donated to Halton Women's Place -125 client family packages put together and in support of local businesses. -620 Seniors in long term care, 20 low income seniors in home and 3 families adopted for the holidays by our amazing community members and all gifts delivered in time to quarantine before Christmas Georgetown Seniors Christmas -275 Staff lunches delivered at Christmas time to our front line workers thanks to the help of Boston Pizza -81 Mental Health Bags packed on behalf of the Dougan Foundation for those living in group homes in our community. -40 Front line grocery store workers in Halton Hills nominated and thanked with $50 gift cards from local businesses with the help of the IG Wealth Management Gives Back matching program. -12 turkeys donated to the Team Gerrits Turkey Drive for Milton families. -5 local sports teams sponsored -One amazing Women’s Day Summit run to celebrate and elevate females who own and are in business in our community Halton Hills Chamber of Commerce (pre shut down!) -2 local food banks supported through Georgetown Highland Games, IG and again on behalf of our clients this holiday season. We, as a team, want to thank everyone involved in every initiative and the Halton hills community and business community for being the best place to work and live! None of this happens without you! We look forward to all the support we can muster locally in 2021, Cheers to celebrating the good! Therrien Accounting Monckton Real Estate Group- Keller Williams Real Estate Associates Beechwood Chiropractic & Wellness Centre Kit's little Kitchen Verico Fair Mortgage Solutions inc. Jeffery Group Real Estate Harmony Home Support Anton & Wilowski LLP Guelph Halton Hills - IG Wealth Management

Sending a Merry Christmas and Happy Holidays out to all of our clients, colleagues, family and friends from our little family to yours! It’s been a difficult year for so many but we are endlessly grateful for each and every one of you!

Huge thank you to Blair Diamond for the most perfect headshot!

Keep an eye out of updates regarding work at home benefits. Now is a great time to check in with your accountant and financial professionals to help take advantage of programs available in the spring. This is a useful tip for business owners: https://www.advisor.ca//cra-employers-can-now-reimburse-h/

This year has been tough on everyone. Some of our hardest hit community members have also been our most isolated. We are really excited to announce that we will be running Georgetown Seniors Christmas again this year! We are awaiting wish lists from our 4 big long term care facilities (about 510 residents total) in town and we can't wait to get our seniors adopted! If you'd like to participate, please join the group and we will be allocating tags November 15th to be adopted a...nd fulfilled! Very excited this year to be partnering with local businesses to get this large task done! Therrien Accounting ,Harmony Home Support, Beechwood Chiropractic & Wellness Centre ,Monckton Real Estate Group- Keller Williams Real Estate Associates, Jeffery Group Real Estate. It's going to take the whole village! How it works: -Each centre gives us a wish list as to what each senior has asked for. -The wish lists are turned into adorable tags. -November 15 we will announce that the tags are ready to be adopted, you will message with how many you would like to adopt and we will match you up with your adorbale senior(s) and provide you with drop off and any other important information! -3 weeks to drop off to a designated drop off location, we encourage families to get their kids involved, draw pictures, any and all personal touches are welcome! You can drop wrapped or unwrapped if you're running out of time! -Usually we have community teams and kids deliver and visit, this year however will just be delivery!

thank you to the whole Halton Hills Chamber of Commerce family who jumped in to help, contributed and who are behind the scenes as organizers. We love ya!

So grateful to live in a town where colleagues are friends and are endlessly supportive! Thank you so much Heather, Erin and Megan from Elizabeth's: Shop Local (Online) for the beaitful delivery that brightened our day!!! If you haven't joined their group, you should! They've added so much love and light and joy to hard time and their Monday night livestreams couldn't be more entertaining. I'm very sure I never want to go back to shopping any other way! Double bonus: you get to support local AND it's the best time!!

Honoured to be a finalist for the Community Excellence award with great community peers! It’s been a tough year for so many and it’s a privilege to join forces with other great businesses and colleagues to help support other local small businesses whenever possible, teams who have lost sponsorship, and organizations like the Halton Women's Place and Georgetown Bread Basket for our community members who need it most.