Kitchen & Bath Classics - Celebrating 10 years as a Trusted Saskatoon Kitchen & Bathroom Store

17. Sep 2023 Trusted Saskatoon Saskatoon Bathrooms, Saskatoon Kitchens, Trusted Brag Blogs, Trusted Partner News, Trusted Tips

TRUSTED SASKATOON RECOGNIZES OUR PARTNERS WHO HAVE BEEN TRUSTED FOR OVER 10 YEARS!

In this series of articles, we continue to shine a bright spotlight on the businesses that have been Trusted Saskatoon partners for over ten years. This year, we recognize the Trusted Saskatoon Partners that joined us in 2013. We want to thank them for TRUSTING our team, and we are identifying each of them individually for providing ten years of OUTSTANDING service to the citizens of Saskatoon and the surrounding area! The latest article celebrates and recognizes Kitchen & Bath Classics in Saskatoon!

Kitchen & Bath Classics of Saskatoon: A Decade of Trust In The Home Beautification Business

In the realm of home improvement, few things have the transformative power of a well-designed kitchen or bathroom. Enter Kitchen & Bath Classics, a Saskatoon gem that has been beautifying homes in the Saskatoon area for over two decades. As a Partner in the Trusted Saskatoon community and owned by the renowned Wolseley Company, Kitchen & Bath Classics stands as a testament to history, outstanding service, and a commitment to making homes more beautiful one kitchen, bath and lighting fixture at a time.

Kitchen & Bath Classic's journey with Trusted Saskatoon over ten years ago, and this local gem has consistently proved itself and become a cornerstone of the local renovation community, synonymous with quality, style, and exceptional customer service. Founded with a vision to provide Saskatoon residents with top-notch products and expert guidance for kitchen, bath, and lighting projects, the company has consistently delivered on its promise.

In an industry where trends come and go, Kitchen & Bath Classics has remained a steady and reliable source of inspiration and quality. Over the years, they have adapted to changing design preferences and emerging technologies, ensuring they remain at the forefront of their field.

What truly sets Kitchen & Bath Classics apart is its unwavering commitment to providing outstanding service. From the moment customers step into their showroom, they are greeted by a team of knowledgeable and friendly experts ready to assist with their home improvement needs.

What Kitchen & Bath Classic's Clients Say...

"My wife and I recently renovated our home. We purchased quite a few items from Kitchen & Bath Classics. Cal was great in giving advice and helping us avoid mistakes. Quality products and service." - Richard C

" Our business has been working with Kitchen and Bath Classics for over 10 years, and we are very confident in sending clients over there to work with them. They have been able to get products in for us under very restrictive timelines, and anytime there has been an issue, it has always been resolved quickly and efficiently. I would rate them a 10 out of 10! " Greg

A Message From Kirsten at Kitchen & Bath Classics About What It Means To Be Trusted

"When you visit our Kitchen & Bath Classics Saskatoon showroom, we want you to truly experience the best from our kitchen, bathroom & lighting brands. That’s why we’ve designed our showrooms with working and interactive product displays. Trust is important to us and we know when you see and feel the products in person, you can imagine how they will fit in your home. When choosing your fixtures, questions may arise. That’s why we have an equally impressive team of expert designers to help answer all your product questions. Our trusted experts are available for one-on-one consultations to help educate and guide you through your project and answer questions as you browse our showrooms. With their guidance, the result is a home you’ll be proud to own."

A word from Sara, the Trusted Saskatoon founder, about her personal experience with Kitchen & Bath Classics

" Many beautiful items in my home were purchased from Kitchen & Bath Classics, and I can attests that their reputation as a Trusted Saskatoon Partner is well deserved ! They have shown themselves to adhere to the values of excellence, expertise, and customer-focused service, as demonstrated in their 2018 Trusted Mystery Shop that you can read here. As they look ahead to the future, it's clear that their dedication to making local homes more beautiful and functional will continue to shine, one satisfied customer at a time."

Whether you're embarking on a full kitchen renovation, a bathroom makeover, or simply upgrading your lighting fixtures, Kitchen & Bath Classics has the products and expertise to bring your vision to life. They understand that each project is unique, and their team works closely with customers to tailor solutions that suit their style, budget, and requirements.

Kitchen & Bath Classic's dedication extends beyond the sales floor. They collaborate with customers every step of the way, from design and product selection to installation and maintenance. Their hands-on approach ensures that every project, no matter the size, is executed with precision and care.

As a member of the Wolseley Company, one of Canada's leading distributors of plumbing, HVAC, and building materials, Kitchen & Bath Classics has access to an unparalleled range of products and resources. This affiliation strengthens their position as a trusted source for kitchen, bath, and lighting solutions. It also underscores their commitment to delivering top-quality products and services to their customers.

In a world where home is more important than ever, Kitchen & Bath Classics Saskatoon's commitment to creating beautiful living spaces is a gift to the community, and one that will surely stand the test of time. Cheers to ten years of trust, and to many more to come!

Kitchen & Bath Classics is a Trusted Saskatoon Kitchen & Bathroom Store!

Trusted Saskatoon Auto Body Experts at Preferred Collision Explain Their Fleet Services

16. Sep 2023 Admin Saskatoon Auto Body, Trusted Tips

What can you expect when you deal with the professionals at Preferred Collision and Glass Saskatoon? You can expect seamless quality repairs! A faster turnaround for your vehicle (on average 25% faster!!) and assistance dealing with insurance! You'll find quality at every price point - from a few hundred dollars to a thousand or more. Preferred Collision and Glass is a Trusted Saskatoon Auto Body Expert.

Efficient Fleet Services for Auto Body Repair

Fleet services for autobody repair involve providing specialized repair and maintenance services for vehicles within a fleet. This type of service is often utilized by companies, organizations, or government entities that operate a fleet of vehicles for various purposes, such as delivery services, transportation, or emergency response.

By utilizing fleet services for autobody repair, fleet owners can benefit from streamlined processes, professional expertise, and timely repairs, ensuring their vehicles are properly maintained and back in service promptly. It's important to work with reputable and experienced autobody repair shops that understand the unique requirements of fleet vehicles and can provide reliable and efficient services.

FLEET MANAGEMENT SERVICES

Complete collision, repair and refinish
Uniform national procedures
Uniform national pricing
Computerized estimates and progress status reports
Availability of OEM or after-market parts, the client’s choice
Guaranteed customer satisfaction

REMARKETING SERVICES

Seamless repairs
Skilled Personnel
Factory colour match paint system

RE-IDENTIFICATION SERVICES

Corporate identity and re-branding on fleet and off fleet
Decal design and application
Computerized brand colour matching
Our location has truck capacity
Computerized estimates and progress reports
Central billing

If you are in a collision, Preferred Collision and Glass will look after all your and your car’s needs, during and after, with our Customer For Life program.

Preferred Collision and Glass is a Trusted Saskatoon Auto Body Expert.

Saskatoon Group Benefits pros at Wiegers Explain How Group Benefits Helps Employees and Their Families

9. Sep 2023 Admin Saskatoon Insurance, Trusted Tips

Wiegers Financial & Benefits is one of the largest private financial planning and employee benefits consulting firms in Saskatchewan.. They have a Saskatoon Benefits and Personal Insurance planning, division. In this latest Wiegers Group Benefits expert tip, they explain how the group benefits plan you provide employees helps look after their loved ones too. Wiegers Financial & Benefits are Trusted Saskatoon Insurance and Group Benefits experts.

HOW THE GROUP BENEFITS PLAN YOU PROVIDE YOUR EMPLOYEES HELPS LOOK AFTER THEIR LOVED ONES TOO

When most people think about what it takes to help protect their loved ones’ financial security, they tend to think about life insurance – and it makes sense. Owning insurance that pays out a lump sum benefit to your beneficiaries in the event of your untimely death is the most effective way to ensure that even when you’re no longer here to contribute to them financially, they’ll be looked after. When an individual wants or needs to purchase life insurance, he or she typically contacts a financial advisor or insurance representative who then conducts a needs analysis to determine the individual’s life insurance needs, applies to one or more insurance companies for it, and then if the individual’s insurance application is approved (including potentially a medical questionnaire and tests), begins paying insurance premiums to keep it in-force.

What a lot of people don’t realize is that as important as it is to purchase sufficient life insurance to protect their loved ones’ financial security after their gone, the group benefits plan you provide your employees likely includes a number of benefits that are also important in helping. Your company’s benefits plan, for example, likely includes a life insurance benefit that amounts to a flat amount or a multiple of each employee’s gross annual income, and that is partly or entirely guaranteed regardless of the employee’s health. This can amount to a relatively significant benefit, though for most people, it is not enough on its own to adequately look after their loved ones financially. A qualified advisor will want to include a person’s group life insurance benefit in a thorough analysis of how much insurance he or she has, and how much is still needed.

But beyond the life insurance you likely provide in your company’s group benefits plan are other benefits that directly or indirectly help care for your employees’ loved ones. Most plans, for example, include short and long-term disability insurance for employees that pay out a benefit each week (in the case of short term disability) or each month (in the case of long term disability) when an employee becomes disabled and is unable to work for an income. This is as beneficial for your employees as it is for their families, given that most families cannot sustain the loss of an income for even a short period of time. When you consider that group disability insurance – unlike Workers’ Compensation Insurance – covers disabilities sustained both on and off the job, the financial security it affords your employees and their families becomes even more apparent.

Most group benefit plans include more than just insurance, though, that benefits the employees’ families. Plans that include Health, Prescription Drug and/or Dental benefits, for example, almost always include coverage (or the option for coverage) for each employee’s dependent spouse and/or children. And in cases when an employee dies when he or she still has coverage under a group benefits plan, there is usually a survivor benefit that continues to afford the employee’s dependents with coverage for one or two years following the death with no insurance premiums required.

In order to really stand out as an employer who cares, you have options to take your benefits plan beyond what’s become standard and, in the process, help improve your competitive position in the war on talent. As just one example, you can supplement your company’s benefits plan with a Health Spending Account and/or Personal Spending Account as a means to providing your employees and their families with the flexibility to choose how to spend wellness dollars. You can add an Employee and Family Assistance Plan (EAFP) to provide a number of important services, including but not limited to counselling. You can add Critical Illness Insurance coverage to your plan – either as a mandatory or voluntary benefit – that provides a lump sum financial benefit to an insured person diagnosed with a covered critical illness. There are other benefit options too that your group benefits advisor should recommend or at least advise you about so you can make the most informed and impactful decision for your own team.

Really, then, by helping to take care of your employees with a group benefits plan, you’re helping take care of their families too. At a time when employees are in the position to choose who they want to work for, and when working for an employer who actively demonstrates care and concern for his or her employees is non-negotiable, it’s important that you make clear what you do for your team. To learn more, please speak with your benefits advisor.

Amanda Getzlaf
Benefits Account Manager, Wiegers Financial and Insurance Planning Services Ltd.

Wiegers’ Benefits Consulting Division includes many consultants and support staff who custom-design the most employee-valued and cost-effective group benefit, personal insurance, employee assistance programs, and retirement plans available. Contact them today for a no-obligation consultation to determine how they can help you.

Wiegers Financial & Benefits are Trusted Saskatoon Insurance and Group Benefits Advisors

Trusted Saskatoon Financial Advisors at Wiegers Financial & Benefits Discuss US Residency Rules for 'Snowbirds'

9. Sep 2023 Admin Saskatoon Financial Services, Trusted Tips

Wiegers Financial & Benefits is one of the largest private financial planning and employee benefits consulting firms in Saskatchewan. Their Financial Planning Division provides business owners, households, retirees, and students with expert investment and insurance planning services to help them reach their long-term financial goals. They also have a Benefits and Personal Insurance planning division.

WHY IT’S IMPORTANT THAT SNOWBIRDS UNDERSTAND U.S. RESIDENCY RULES BEFORE PLANNING THEIR TRIP

Every year, over 1 million Canadian seniors and retirees pack up and move south for the winter to enjoy the warm weather and avoid the freezing temperatures at home.

However, while warmer climates can be a welcome escape, Canadian snowbirds need to be very careful about how much time they spend in the United States, as overstaying can result in being deemed a U.S. resident for tax purposes and subject you to paying taxes in the United States even if you’re not a U.S. citizen.

The good news is that proper planning and awareness of the correct U.S. residency rules can help you avoid falling into the snowbird tax trap.

NOTE: If you have dual Canadian – U.S. citizenship, you should already be filing a U.S. tax return to report your worldwide income, no matter how much or little time you spend in the U.S., so the options below won’t apply to you.

The Wrong Way to Avoid Being Considered a U.S. Resident

Unfortunately, many Canadian snowbirds have been misinformed that if they simply spend fewer than 183 days in the U.S. in any given year, they will not be considered U.S. residents for tax purposes.

This information is not true, and has caused thousands of Canadians to unknowingly violate U.S. residency rules, often leading to serious financial and emotional stress.

Don’t think you’ll just slip through the cracks. Canadian and U.S. border officials are sharing more information than ever, making it virtually impossible to hide from the IRS.

The Right Way to Avoid Being Considered a U.S. Resident

Canadian snowbirds have three options to avoid being considered U.S. residents for tax purposes by the IRS. The first option is to avoid being considered a U.S. resident for tax purposes in the first place, while the second and third options offer exemptions if you could be considered a U.S. resident.

The three options below are listed from simplest to most complex. The right option for you will depend on your unique situation:

The Substantial Presence Test
The Closer Connection Exemption
The Canada – U.S. Tax Treaty

Option 1: The Substantial Presence Test

The easiest way for Canadian snowbirds to avoid being considered U.S. residents for tax purposes is to make sure you don’t meet the IRS’s Substantial Presence Test. Under the Substantial Presence Test, the IRS considers Canadians to be U.S. residents for tax purposes if you are physically present in the U.S. for:

31 days in the current calendar year; AND
183 days during the three-year period covering the current calendar year and the two preceding calendar years on a weighted basis.

To arrive at your three-year total, you include:

All days spent in the U.S. in the current calendar year,
One-third of the days spent in the U.S. in the preceding year, and
One- sixth of the days spent in the U.S. in the year prior to that

While the test is odd and confusing, it actually allows you spend significantly more than 183 days in the U.S. over the three-year period by giving less weight to days in previous years.

If your total over the three-year period is 182 days or less, you will not be considered a U.S. resident for tax purposes, as you don’t meet the Substantial Presence Test.

However, if your total for the three-year period is 183 days or more, you will be considered a U.S. resident for tax purposes under the Substantial Presence Test, which would require you to seek an exemption under Option 2, and possibly Option 3, below.

TIP: For U.S. residency calculation purposes, a day is considered to be a calendar day, not a 24-hour period! For example, if you enter the U.S. at 11:00 pm one night and return to Canada at 1:00 am the next morning, it counts as spending two days in the U.S. even though you were only there for 2 hours.

Example:

Glenn spends 120 days in the U.S. in 2020 (the current year), 120 days in the U.S. in 2019 and 120 days in the U.S. in 2018, he would calculate his three year total as follows:

120 days in 2020
+ 40 days in 2019 (120 ÷ 3)
+ 20 days in 2018 (120 ÷ 6)
= 180 total days
In this example, Glenn would not be considered a U.S. resident for tax purposes, as he is under the 183- day threshold for the three-year period. He should still consider filing Form 8840 to document this with the IRS.

NOTE: If you spend a fair amount of time in the U.S. each year, you should still consider filing Form 8840 to document and certify to the IRS that you were not substantially present in the U.S. under the Substantial Presence Test. You are not required to have a U.S. tax identification number to file Form 8840.

Option 2: Form 8840 & The Closer Connection Exemption

Even if Option 1 above doesn’t work for you, you can still get an exemption from being considered a U.S. resident for tax purposes if you qualify for and file a Form 8840 with the IRS.

The official name of Form 8840 is the “Closer Connection Exemption Connection Statement for Aliens”.

Essentially, filing Form 8840 allows Canadian snowbirds to stay in the U.S. for up to 182 days every year without being considered a U.S. resident for tax purposes (assuming you meet the criteria and file on time).

In order to qualify to file Form 8840 and receive this exemption, you’ll need to meet ALL of the following criteria:

Be present in the U.S. for less than 183 days in the current calendar year
Be able to establish a home in Canada in the current calendar year
Be able to establish a closer connection to Canada than the U.S. during the calendar year

Form 8840 is a short form that asks you a number of questions to support your claim that you have closer economic and personal ties to Canada than the United States.

Questions cover a broad range of topics including, but not limited to:

Where your permanent home is
Where you keep your belongings
Where your family lives
Where you’re registered to vote
Where your driver’s license was issued
Were your banking and financial accounts are located
Where you’re covered by a government health plan

Form 8840 must be filed with the IRS no later than June 15 in the year following the year in which you qualified as a U.S. resident for tax purposes under the Substantial Presence Test. If you fail to file on time, you may be considered a U.S resident for tax purposes and subject to other penalties.

If you meet all of the criteria to be eligible for the Closer Connection Exemption and file your Form 8840 on time with the IRS, you will avoid being treated as a U.S. resident for tax purposes.

If you don’t meet all of the criteria for the Closer Connection Exemption, and you are ineligible to file a Form 8840, you must look to Option 3 below as your third and final option for relief from being deemed a U.S. resident for tax purposes.

Option 3: The Canada – U.S. Tax Treaty

Canadian snowbirds that spend 183 days or more in the U.S. in the current calendar year have one last option to avoid being declared a U.S. resident for tax purposes: file a U.S. Nonresident tax return (Form 1040NR) and claim an exemption under The Canada – U.S. Tax Treaty.

In order to claim an exemption under the Canada – U.S. Tax Treaty, Canadians must file a non-resident U.S. tax return Form 1040NR and attach a properly completed Form 8833, called the “Treaty Based Return Position Disclosure”. You will need a U.S. Individual Tax Identification Number (referred to as an “ITIN”) to file these forms with the IRS.

This option is by far the most onerous and complex to complete and will likely require you to incur the time and expense of hiring a U.S. tax professional to assist and advise you.

Form 1040NR and Form 8833 must be filed with the IRS no later than June 15 in the year following the year in which you qualified as a U.S. resident for tax purposes. If you fail to file on time, you may be considered a U.S resident for tax purposes and subject to other penalties.

The Bottom Line

Whenever possible, Canadian snowbirds should avoid being considered U.S. residents for tax purposes.

As mentioned previously, your best options are to ensure you do not meet the Substantial Presence Test or to qualify for the Form 8840 Closer Connection Exemption. Avoid having to rely on the Canada – U.S. Tax Treaty whenever possible.

While filing a Form 8840 Exemption may be a little more work than simply not meeting the Substantial Presence Test, the filing process isn’t particularly difficult or time consuming, and allows you to spend more time in the United States. It’s a common practice, and thousands of Canadian snowbirds file a Form 8840 every year.

Avoiding U.S. tax issues should never be a problem for snowbirds as long as you plan ahead and take the time to understand and follow the IRS rules. Talk to an advisor for more information.

Wiegers Financial & Benefits are Trusted Saskatoon Financial Advisors

The opinions expressed are those of the author and may not necessarily reflect those of Manulife Securities Investment Services Inc.

Trusted Saskatoon Financial Advisors at Wiegers Financial & Benefits Explain How To Make The Most of Your RRSP

9. Sep 2023 Admin Saskatoon Financial Services, Trusted Tips

HOW TO MAKE THE MOST OF YOUR RRSP

Matching each saving option to your specific financial situation

Building savings can be challenging; there are plenty of other things to spend your money on.  That being said, the satisfaction of watching your savings grow will likely outlast the thrill of your latest online purchase. To maximize your savings potential, you can add guaranteed investment certificates (GICs), mutual funds, segregated funds, stocks and bonds to your registered retirement savings plan (RRSP) or tax-free savings account (TFSA)[1]

Accelerate your savings

Here are a few options you can consider to make the most of your contributions:

Pay yourself first with a pre-authorized chequing contribution plan.

A pre-authorized chequing (PAC) contribution plan helps you make regular, automatic contributions to your investments. It’s “paying yourself first” by treating regular savings like any recurring payment. This strategy is more effective because contributing more frequently gives you the advantage of dollar-cost averaging.[2]

Talk with your advisor or investment representative about adding an option that gradually increases the amount you contribute over time. It’s like giving your investments an annual raise, which can make a big difference to your savings.

Catchup on unused RRSP contribution room with an RRSP loan

An RRSP loan can boost your savings by allowing you to catch up on RRSP contributions[3]. By catching up on contributions using a loan, you’re giving your investments the most available time to grow[4]. It helps you now and in the future because it:

It gives you more money earlier to grow your investment.
Potentially creates a larger nest egg down the road.
Reduces this year’s tax bill through an income deduction equal to the amount of your allowable RRSP contribution.

Borrowing your RRSP contribution doesn’t have to be costly. You can use any tax refund to help pay down your RRSP loan, which means you’ll benefit from tax advantages right away.

Despite the advantages, RRSP loans aren’t suitable for everyone.

Contribute to a spousal RRSP

In a spousal RRSP, the higher-income spouse makes an RRSP contribution and claims the tax deduction, but the other spouse owns the plan and the money in it. Spousal RRSPs are generally used to equalize income during retirement, lowering the overall family tax rate as a result.

This type of plan can be advantageous if one spouse earns a higher income than the other. Any contributions made by the higher-income spouse will reduce his or her individual RRSP contribution room for the year but won’t affect how much the lower-income spouse can contribute to his or her individual RRSP.

If a spousal RRSP annuitant withdraws an amount from the account, all or part of the withdrawal would be taxed to the contributing spouse and not the annuitant to the extent that contributions were made in the year of the withdrawal or the previous two calendar years.

When it comes to investing, the earlier you start, the better. If you have any questions, please speak with your financial advisor.

Taylor Szeto, B.Comm.

Insurance Representative, Wiegers Financial and Insurance Planning Services Ltd.

Account Representative, Manulife Securities Investment Services Inc.

Contact them today for a no-obligation consultation to determine how they can help you.

Wiegers Financial & Benefits Is A Trusted Saskatoon Financial Advisor

The opinions expressed are those of the author and may not necessarily reflect those of Manulife Securities Investment Services Inc.

Mutual funds are offered through Manulife Securities Investment Services Inc. Insurance products and services are offered through Wiegers Financial & Insurance Planning Services Ltd. Banking products and services are offered by referral arrangements through our related company Manulife Bank of Canada.

[1] If you want to add segregated funds to your RRSP, you must be 16 years of age (18 in Quebec). If you want to add segregated funds to your RRSP, you must be 16 years of age (18 in Quebec).

[2] Dollar cost averaging means investing smaller amounts at regular intervals, rather than saving up to invest in one lump sum. It can help you avoid jumping into the market at peak times by purchasing more fund units when values are low and fewer fund units when values are high.

[3] While borrowing to invest has many potential benefits (investing an initial lump sum creates greater potential for compound-growth compared to making smaller regular investment purchases), leveraging also has potential risks (market volatility may result in poor investment returns and the possibility of owning more on the loan than the investments are worth).

[4] RRSP loan proceeds cannot be used to fund TFSA contributions