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How Do the Alternative Minimum Tax Changes in Canada Impact Charities?

Written by Bloom Investment Counsel, Inc. on November 13, 2024. Posted in Philanthropy. No Comments on How Do the Alternative Minimum Tax Changes in Canada Impact Charities?

The Alternative Minimum Tax (AMT) is designed to ensure that individuals and corporations who benefit from various tax deductions and credits still pay a minimum level of tax. In Canada, AMT serves as a way to prevent high-income earners from avoiding tax responsibilities through aggressive tax planning. Recently, there have been changes to the AMT rules, prompting important discussions about how these modifications can affect the charitable sector.

Understanding Asset Allocation: What’s Right for Your Portfolio?

Written by Bloom Investment Counsel, Inc. on November 11, 2024. Posted in Investing. No Comments on Understanding Asset Allocation: What’s Right for Your Portfolio?

Asset allocation is a fundamental concept in investing that can significantly influence the performance and stability of your portfolio. It refers to the strategy of dividing your investments among different asset categories to balance risk and return according to your individual financial goals and risk tolerance.

This article will explore the principles of asset allocation, how to determine what’s right for your portfolio and provide practical tips for developing and maintaining an effective asset allocation strategy.

Managing Your Finances After Selling a Business

Written by Bloom Investment Counsel, Inc. on November 6, 2024. Posted in Life Events. No Comments on Managing Your Finances After Selling a Business

Selling a business is a significant milestone that often results in an influx of cash. While this newfound wealth can offer exciting opportunities, it also comes with a set of challenges and responsibilities. Effective financial management is crucial to ensuring that the proceeds from the sale are used wisely, providing long-term financial stability and achieving personal goals.

Understanding Retirement Planning: Rate of Return vs. Income Strategies

Written by Bloom Investment Counsel, Inc. on November 4, 2024. Posted in Retirement. No Comments on Understanding Retirement Planning: Rate of Return vs. Income Strategies

Retirement planning is crucial for ensuring a comfortable and financially secure future. It involves preparing financially for the period after you stop working, and it’s vital to consider various strategies to achieve your retirement goals. Two fundamental aspects of retirement planning are the rate of return on investments and income strategies during retirement. Each plays a distinct role in achieving a secure and enjoyable retirement.

Why a Financial Plan is Essential for Your Financial Health

Written by Bloom Investment Counsel, Inc. on October 30, 2024. Posted in Wealth Planning. No Comments on Why a Financial Plan is Essential for Your Financial Health

Without a clear strategy for managing your money, it’s easy to feel overwhelmed and uncertain about your financial future. A financial plan is a comprehensive strategy designed to help you manage your money, achieve your goals, and secure your financial future. It typically includes budgeting, saving, investing, and managing debt. Whether you’re looking to buy a home, save for retirement, or just get a handle on your finances, a solid financial plan can make all the difference.