www.liptonllp.com

February 2015

26
FEB
2015

Lipton Newsletter: Winter 2015 Edition

What’s Inside our Winter Newsletter

 

A Message from the Managing Partners

Managing Partners Fred Arshoff and Jeff Nightingale discuss the importance of corporate retreats, and how they can help your business.

Snowbirds – Know Your Tax Responsibilities

Have you headed south of the border for the winter?  If you are a Canadian resident who pays Canadian taxes and spends a considerable amount of time in the US, then make sure you understand the various tax issues that can occur once you cross the US border.

 

A Tribute to Stephen Altbaum 

Commencing in 2015, things will be a little different for the clients, partners and staff at Lipton.  Steve Altbaum, the only remaining founding partner of the firm, retired on December 31, 2014 after 43 years of providing service and advice to his clients.  But things won’t be entirely different.  Steve will still be there when his clients and the people at the firm need him.

Protecting Yourself when Shopping Online

The world has changed dramatically since caveat emptor, Latin for “Let the Buyer Beware,” was first spoken. Unfortunately, the principle still applies today, even in an online marketplace. While ecommerce has become viable and even mainstream for many companies, it still holds potential risks for individual consumers and businesses. 

 

 

 

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04
FEB
2015

Tax Planning Update – RRSP/TFSA

In order to assist you with your 2014 and 2015 tax planning, we are pleased to provide you with the following information in connection with Registered Retirement Savings Plans (RRSP) and Tax-Free Savings Accounts (TFSA) as follows:

RRSP
  • The maximum contribution limit for 2014 is $24,270
  • The deadline for 2014 contributions is March 2, 2015
  • Your contribution limit for 2014 is noted on your 2013 Notice of Assessment
  • The maximum contribution limit for 2015 is $24,930

TFSA
  • The contribution limit for 2015 is $5,500
  • The cumulative contribution limit in 2015 is $36,500

The rules regarding RRSP and TFSA contributions are not as simple as they may appear.  Please contact your Lipton LLP advisor if you would like to discuss your particular situation further.
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