For small businesses, a major tax-planning area is how to extract the profits of the company in the most tax-effective manner. In choosing the best method for your company it is important to correctly identify your objectives along with any possible limitations for your situation.

Efficient Saving for our Children’s Future has been contributed by Sara Jimenez, CPA, CA, CFF, CFE. This two-part series provides practical tips about how to save for your children’s futures: Part 1 describes the available savings vehicles and how to contribute, and Part 2 describes the related tax implications.

Investing is more than just putting money in Guaranteed Investment Certificates or the stock market. From the start until you actually retire, you must keep reassessing your financial and other life circumstances to determine whether the strategy chosen yesterday is still valid today. Several approaches to investing are available but each is dependent upon your personality, your age and your life situation.