After Taxes: Managing Personal Wealth

Martha Wilson is Canadian correspondent for the Japan Times (Tokyo) and
a Toronto-based freelance editor and writer.

Written by Ottawa financial planner Geoff Stevens, author of the
bulletin The GASletter, this book is intended primarily for retirees
(especially those in the upper income brackets) and small-business
owners seeking information about the implications of Canada’s tax
policies. The book includes comprehensive sections on planning for
retirement, managing registered and nonregistered investments, and
figuring out your insurance needs.

The long chapter on income taxes, the most detailed section of the
book, offers instructions for avoiding the tax collector on every front.
There is advice on everything from mileage deductions to child support.
The author’s tips are well laid out and easy to follow.

The book serves as a good general personal-finance guide, with sensible
suggestions for dealing with a wide variety of situations. For example,
in the section on divorce, Stevens writes, “When splitting up, most
partners are in a hurry to get it over with. ... While the notion of
co-operating with someone you no longer love may be repellent, failing
to communicate on material and monetary matters at break-up can cost
both of you, not to mention costing your children.” Then he lists five
“Income Tax Act traps” to consider during negotiations.

On the minus side, the book is so comprehensive that many topics
receive only sketchy coverage. Sections tend to be very short (two pages
cover offshore investing, for instance). And yet some information seems
to have been thrown in simply because there was space left for it; the
final chapter, “Of General Interest,” is a confusing jumble of
topics.

Criticisms aside, After Taxes would be a useful addition to your
personal-finance library.