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Community Calendar Wednesday, April 7 Bruce Trail hike: Level 1 slowpaced loop hike on local trails. Depart 9:30 a.m. from the Georgetown Market Place parking lot between Zellers and the grey medical building. Normally back by noon in time for lunch at a local eatery. Leader: Maureen, 905-873-9757 haltonhillshikers@yahoo.ca Drop-In Storytime: Halton Hills Public Library offers drop-in storytimes that do not require registration! These free 30-minute programs for grownups and young children to enjoy together include stories, music and lots of fun at Acton Community Centre: Wednesday, April 7 to May 26 at 2 p.m. (no class May 12) and Georgetown Branch: Wednesday, April 7 to May 26 at 9:45 a.m. Info: 905-873-2681 ext. 2520 or 519-853-0301 or www. hhpl.on.ca Sleepytime Stories: Children are invited to wear their pyjamas and bring their teddy bears to Halton Hills Public Library, Georgetown library, Wednesdays in April at 7 p.m., a free 30-minute program for grownups and young children to enjoy together. Info: 905-8732681 ext. 2520 or www.hhpl.on.ca A Wealth of Investment Expertise in Halton Hills. ·Retirement Planning, RRSPs, RRIFs ·Mutual Funds, Stocks, Segregated Funds ·GICs, Bonds ·Fee-based Managed Accounts 19 Independent & Free Press, Tuesday, April 6, 2010 R. Scott Becksted, BES Wealth Advisor Issues faced by Executives and Professionals There are many common issues which executives and professionals are faced with in their financial planning. With my clients, we look for the right solutions to make their financial plans work for them for what matters most. Here are some of the issues and possible solutions. ISSUE: "I have a lot of "in-the-money" stock options." SOLUTION: Stocks options are not taxed when they are granted. They are taxed when they are disposed of or exercised. Determining the timing and amount of taxation depends on a number of factors which is not straightforward in many cases. We provide guidance and assistance to you so that when you discuss with your accountant, you have already looked at the options and know the tax issues for your personal situation. ISSUE: "I am a member of a deferred profitsharing plan." SOLUTION: You may be able to consolidate the vested portion of your plan into your RSP, or if you are completely terminating your interest in the DPSP, you may be able to withdraw the funds into a nonregistered account and only pay tax on the original cost. We work through the options to determine the right choice for your situation. ISSUE: "I am in an industry that allows me to create a Professional Corporation." SOLUTION: In Ontario, Health Care Professionals, Lawyers, Accountants and Dentists are permitted to incorporate their businesses. We can discuss with you the potential tax deferral benefits and tax savings before you spend time with your accountant and lawyer. ISSUE: "Are there any other ways to save on a tax-advantaged basis?" SOLUTION: Individual Pension Plans or IPPs are an increasingly popular options for small companies to set up a pension for key employees or owners that may have some advantages over RSPs. Often RSP contribution limits can be higher than those for RSPs, and expenses are tax deductible. Retirement Compensation Arrangements or RCAs are another way a company can supplement the pension of a key employee, and these can be funded with insurance to provide some tax deferral. There is also an insurance strategy called an Insured Retirement Plan that takes advantage of the tax-deferral properties of life insurance. You can fund it with personal or corporate funds. This is a small peek at some of the tax and planning strategies that you could consider. For a copy of my handy checklist that provides a summary of some of the strategies available, send me an email. If you would like to sit down and see how I may be able to help you take advantage of strategies available, please give me a call. Written by Barbara Byckowski, CFP, VP, Investment Advisor, RBC Dominion Securitiess barbara.byckowski@rbc.com 905-450-1850 RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member CIPF, ®Registered trademark of Royal Bank of Canada, Used under licence, RBC Dominion Securities is a registered trademark of Royal Bank of Canada. Used under licence. ©Copyright 2010. All rights reserved. Barbara Byckowski is an Investment Advisor with RBC Dominion Securities Inc. Member CIPF. This article is for information purposes only. Please consult with a personal advisor before taking any action based on information in this article. Barbara can be reached at 905-450-1850. 905-873-6640 or 905-796-5024 Toll Free: 1-800-263-2454 Fax: 905-450-6343 scott_becksted@scotiamcleod.com www.advisors.scotiamcleod.com/sbecksted ScotiaMcLeod is a division of Scotia Capital Inc., a member of the Scotiabank Group. START At Yorkshire Enterprises: Pick-Up & Delivery Available. Call to arrange a meeting. Your return is completed by tax professionals with more than 40 years of combined experience. You get our assurance of accuracy and maximum tax savings. Your return can be done while you wait. EFILE services are available. Thursday, April 8 POWER presents: What About Our Water?, a panel discussion 7:45-9:30 p.m. in the Gallery of the Halton Hills Cultural Centre. Silent auction begins at 6:30 p.m. followed by POWER's annual general meeting, 7-7:30 p.m. Info: 905-8731820 or www.powerhalton.ca Halton Hands in Motion Knitting and Crocheting Guild: meets 7-9 p.m. at the Georgetown Seniors' Centre, 318 Guelph St. (rear entrance) in Georgetown. Agenda: regular business, constitution vote, show and share and schematic knitting. A knitting schematic is an outline drawing of a knitted piece. A knitting chart shows you a stitch, cable, or color pattern. There will be a demo on how to use any yarn with any pattern you like, basically custom knitting. Welcome everyone. Info: Diane, 905-877-1521 or Barb, 905-878-5603. Limehouse euchre: 7:30 at Limehouse Memorial Hall. Senior Men's Luncheon: 12 p.m. at Georgetown Christian Reformed Church, Trafalgar Rd. Speaker will be Jim Montgomery, Aviation Museum. Enjoy an interesting speaker, a great lunch and warm friendship for only $10. Info: Aidan Kennedy, 905-877-6029. More CALENDAR, pg. 20 Sarah, Marion, Joanne, Christine & Liz Yorkshire Enterprises Inc. Located at: Knolcrest Centre 360 Guelph St., Unit 47 Georgetown, ON L7G 4B5 Call: 905-873-2697 Email: info@yorkshirent.com www.yorkshirent.com Email: barbara.byckowski@rbc.com Barbara Byckowski Investment Advisor, BBA, PFP, CFP 905-450-1850 Q: A: I have a lot of shares in one company and would like to diversify. TIME IS RUNNING OUT TO FILE YOUR TAXES To maximixe your refund and to reduce your stress . . . Let the Professionals at BTPC* Chartered Accountants help you prepare your taxes. *BUTTLE & TAVANO PROFESSIONAL CORPORATION If the holding is very large, a strategy called Equity Monetization may allow you to diversify your holdings yet defer triggering a capital gain. It may also be possible to do an Equity Monetization Strategy after a person has exercised employee stock options (and able to defer their taxable stock option benefit). When a client has a portfolio whose value is concentrated in a single equity security most clients would describe themselves as "asset rich and cash poor". These tend to be individuals or corporations who have sold assets or companies to an acquirer and have received public company shares as a payment or employees who have acquired shares in their employer through stock or option grants. A client in this situation seeking to diversify their portfolio or liquidate the portfolio faces a significant tax liability if the adjust cost base of the security is low. The Equity Monetization Strategy allows a client to "take some money off the table by hedging a portion of his/her position". RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member CIPF, ®Registered trademark of Royal Bank of Canada, Used under licence, RBC Dominion Securities is a registered trademark of Royal Bank of Canada. Used under licence. ©Copyright 2010. All rights reserved. Barbara Byckowski is an Investment Advisor with RBC Dominion Securities Inc. Member CIPF. This article is for information purposes only. Please consult with a personal advisor before taking any action based on information in this article. Barbara can be reached at 905-450-1850. 348 Guelph St. Unit 4, Georgetown 905-873-8837 www.BTPC.ca