There are two certainties we all face; one is death and the other is taxes. For those facing a separation or divorce dealing with the tax issues that arise regarding division of property, principle residence, equalization of assets, and support payments is extremely important if you want the best possible outcome. This month's newsletter focuses on a few aspects related to taxation. I hope you find this information helpful as you prepare your records for filing your 2012 tax return. Best regards,
Gail Belchior Owner / Financial Divorce Consultant Family Mediator
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INCOME TAX CHECKLIST
From Sandra Siemen's Tax Service
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1. Important Dates
2. Documents to
Gather
3. What's New
For more click:
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Things to Consider
By Bronwen Bruch, BMath, CMA, FDS
THE TAX MANAGEMENT CENTRE, Oakville
Tax Tips for Separating Spouses:
 | | Bronwen Bruch |
- Spousal Support and Your Pay Cheque.
- Shared Custody and Claiming Your Children on Your Income Tax Return.
- Tax Implications When Separating Spouses Divide Their Assets.
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Thursday, February 28, 2013 6:30 to 8 p.m.
You are Invited to:
"It Won't Happen to Me, But What If?"
Complimentary refreshments of find brandy, port, liqueurs, wine and light food fare will be served.
You and a guest will have a unique opportunity to discuss:
- How to help protect your financial security from an unforeseen event
- Becoming more informed about and in control of your finances
- Strategies to help achieve your goal of future financial security
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| March 23, 2013 Showcase
Come to the Seaway Mall to check out our "SHOWCASE" of over 20 local businesses brought together for you by Networking Niagara.
For more information click on:
Click here to learn more about
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Thumbs Up Testimonial
"Divorce can be devastating for anyone, but when I met Gail I knew I had found someone dedicated to her profession in a way that ensures a client's overall well-being.
She is knowledgeable, compassionate, understanding and helps bring clarity to situations that can be beyond your own emotional rationale.
Don't go through this alone call Gail to keep you focused and help you make good decisions."
Satisfied and Happy... J.Caruso
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 | | Gail Belchior, BA/BEd, PFP, FDS |
Avoid Tax Pain
by working with an accredited Financial Divorce Specialist (FDS).
1. For those seeking the division of property and/or support consideration you will need to provide full financial disclosure. Your last three years of tax returns and notice of assessment are part of that process.
2. Not all liquid assets have the same value once divided. For example:
- $50,000 in a RRSPs
- $50,000 in a TFSA
- $50,000 in the bank
are not the same. Consider the tax implications upon withdrawal, capital gains taxes and contribution limits for the above items.
- Tax Traps for Divorcing Couples.
- Common Errors Can Affect the Cost of Your Divorce.
- Minimize Tax on Marriage Breakdown.
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If You are Feeling Tax Pain Your Next Move is to Call
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Financial Divorce Solutions
905-892-4058
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