(NC) It’s RRSP season again — but what does that even mean? A Registered Retirement Savings Plan is a great way to save money tax-free, but there’s a catch: you can only contribute a set amount per year, and there’s a time limit.
March 1, 2022 is the deadline to contribute to an RRSP and save on 2021’s taxes. Any funds you add after this date will go towards next year’s taxes, and you’ll miss out on this year’s deductions. It’s best not to wait until the deadline; the sooner you begin, the easier it is.
Not sure where to start? Talk to a financial advisor for help. You can get set up to save on taxes, prepare for retirement and achieve your savings goals. You can even set up a virtual appointment and get investment advice from home. Schedule an appointment as soon as you can because advisors’ calendars fill up quickly this time of year.
Find more information at td.com.
