In the rush to first open that RRSP, you probably signed reams of documents. But, if your circumstances have changed at all, now might be a good time to review just what you signed -- particularly when it comes to your beneficiary.

If you're married or living in a common-law relationship, you're probably better off to name your spouse or partner as the beneficiary. This way, your RRSP assets can be rolled over to his or her plan at your death, allowing you to avoid paying tax until the surviving spouse is faced with his or her own final tax return.

Reassess this in the event of divorce or remarriage, however. There have been cases where an RRSP went to a former spouse after the ex’s death.

Not only would the former spouse inherit, but the estate might be liable for the taxes owed as the transaction would no longer qualify as a tax-free rollover. If no beneficiary is chosen at all, the RRSP typically becomes estate property, and taxes will take a big bite.

There's a reason hundreds of thousands of people use popular tax-preparation packages like QuickTax, StudioTax and Ufile.

They save them a lot of money in accountants' fees and, with their friendly, intuitive interface, they’re reasonably easy to use — particularly if you’re a salaried employee with a fairly straightforward return. 

A stronger Canadian dollar has many people thinking about relocating in retirement, in hopes of enjoying milder weather and generally lower expenses. 

And, fueled by sliding home prices and a certain familiarity, the U.S. Sunbelt is always high on most snowbirds’ lists.

If you’re only going for a winter break, even one that lasts a couple of months, then U.S. taxes aren’t a great concern. But, if you see yourself staying longer than that, then you better start paying attention, particularly when you consider that states with low income taxes often have higher sales or property taxes, and vice versa.

More than 43,000 Canadian jobs disappeared last month, suggesting that most companies continue to wait for more signs of a sustained recovery before they begin hiring again.

The job losses would have been even worse, but that big drop was offset by a gain of 27,500 in the nebulous "self-employed" category.

If you’re one of those who've made the leap, keep in mind that your new job status brings with it a number of challenges, not the least of which is your tax situation. While writing off car and office expenses will certainly put money in your pocket, expect to be saddled with some unexpected costs.

Judging by the vitriol on our messages boards, just about everyone hates Ontario’s new HST – which would combine the currently separate eight per cent provincial sales tax and the five per cent GST into one tariff that would cover previously tax-exempt items – but they’re not sure what to do about it.

Here’s one approach: Ontario native leaders say they’ll turn their reserves into tax-free shopping zones rather than let the HST strip them of tax breaks that status Indians enjoy in the other provinces. 

A few weeks ago, we featured a general article about how to engineer a tax-cost-effective transfer of the family cottage to the next generation.

Some readers were curious as to how much it might cost to use life insurance -- either to pay the capital gains tax required down the road or to provide some liquidity to adult children who would never use the cottage.

By Gordon Powers, Sympatico / MSN Finance

With a strong Canadian dollar making cross-border travel much easier to stomach, budget-conscious shoppers may want to fine-tune their travel plans to take advantage of sales tax holidays in several U.S. states.

Some tax breaks are geared toward back to school shopping with only modest dollar limits while other states use tax holidays to encourage residents to trade in their aging appliances for more energy efficient models.

By Gordon Powers, Sympatico / MSN Finance

Canadian investors who been paying for discretionary investment management, where the manager makes all the buying and selling decisions on their behalf, may be entitled to a refund on Goods and Services Tax (GST) that has been incorrectly charged to their accounts.

In a recent ruling, the recent Federal Court of Appeal concluded that fees paid by the Canadian Medical Protective Association to its investment managers were in fact ‘exempt’ financial services. As a result, the CMPA is now entitled to recover the GST it paid on such management fees.

And so are you.