J & S Picture Frame Warehouse Are Professional Photograph Restoration Experts

12. Sep 2023 Admin Saskatoon Photography & Framing, Trusted Tips

The J & S Picture Frame Warehouse team believes that your pictures deserve the best! Locally owned and operated, they constantly strive to bring their customers the best materials, advice, and workmanship for all of your framing needs. They simply offer the best selection of materials to preserve your treasures, keepsakes, and works of art in Saskatoon. J & S Picture Frame Warehouse are your Trusted Saskatoon Picture Framers. In their latest tip, they discuss professional photograph restoration.

J & S Picture Frame Warehouse Are Professional Photograph Restoration Experts

Photo restoration services can help you bring old, damaged, or faded photographs back to life. These services utilize digital tools and techniques to repair and enhance the quality of the image. Here are some key points about photo restoration services:

1. Repairing Damage: Photo restoration can fix various types of damage, such as scratches, tears, creases, water damage, stains, and fading. Skilled professionals use digital editing software to carefully restore the damaged areas of the photograph.

2. Color Correction: Faded or discoloured photos can be restored to their original vibrancy. Photo restoration experts can adjust colour levels, remove colour casts, and restore accurate tones to make the image look natural and vibrant again.

3. Removing Blemishes: Unwanted marks, spots, or blemishes on the photo's surface can be removed through careful retouching techniques. This includes eliminating dust, stains, mold, or other imperfections that may have accumulated over time.

4. Restoring Details: Photo restoration services can help bring back lost details and sharpness to the image. This can include enhancing facial features, improving texture and clarity, and recovering fine details that may have been obscured or damaged.

5. Reconstructing Missing Parts: If a photo has significant damage or missing portions, restoration experts can reconstruct those missing parts using advanced digital techniques. This may involve recreating missing areas based on surrounding details or using reference images provided by the client.

6. Digital Archiving: Photo restoration services often provide digital archiving options, allowing you to preserve your restored images in a high-resolution digital format. This helps safeguard the restored photographs for future generations and allows for easy sharing and printing.

7. Customization and Editing: Some restoration services offer additional customization options, such as cropping, resizing, removing unwanted objects, or combining elements from multiple photos. These services can help you achieve specific aesthetic or compositional preferences.

When choosing a photo restoration service, it's essential to work with a reputable provider with experienced professionals who specialize in photo restoration.

Learn more and see examples of J & S work here: https://www.jandspicture.com/photo-restoration/

Remember, these tips are general guidelines, and the specific requirements may vary based on the type of artwork, size, and personal preferences. It's always a good idea to consult with our professional framers at J & S Picture Frame Warehouse if you have valuable or delicate pieces that require special attention.

As always, you can find out more about the knowledgeable team at J & S Picture Frame Warehouse your TRUSTED SASKATOON FRAMING EXPERTS by checking out their listing on Trusted Saskatoon or visiting them in store!

J & S Picture Frame Warehouse Share Picture Framing Display Tips

12. Sep 2023 Admin Saskatoon Photography & Framing, Trusted Tips

Picture Framing Tips to Help You Create a Beautiful Display

Choose the Right Frame: Consider the style, colour, and material of the frame. It should complement the artwork or photo while also fitting with the overall aesthetic of the room where it will be displayed. It’s main purpose is to protect the artwork or the object that you are framing
Matting: Adding a mat can enhance the presentation of your artwork it also lets your artwork or needle work breath. When you use matting it lifts the glass off of the artwork of needle work.Use acid-free mats to prevent yellowing and damage over time. The designer will help and advise you on the size of the mat in poportion to the artwork and the size of the finished piece. Mounting: Use acid-free mounting materials, such as archival photo corners or acid-free tape, to attach the artwork to the backing board. This helps to keep it in place without causing any damage.
Conservation Framing: If you have valuable or irreplaceable artwork, consider conservation framing. This involves using acid-free and UV-protective materials to prevent fading, discolouration, and deterioration over time.
Proper Handling: When framing, we make sure to handle the artwork with clean hands or wear cotton gloves to avoid leaving fingerprints or smudges. Be gentle and avoid touching the surface of the artwork directly.
Hanging Hardware: We ensure that your frame has appropriate hanging hardware, such as D-rings and wire or wall buddies that are securely attached to the back. This will make it easier to hang the frame evenly on the wall.
Display Location: Consider the lighting conditions and environment where the framed picture will be displayed. Avoid direct sunlight, as it can cause fading. Also, keep the artwork away from areas with high humidity or extreme temperature changes.
Level and Placement: Use a level to ensure that your frame is straight when hanging it. Consider the height and placement of the picture on the wall, keeping in mind the surrounding decor and furniture.
Grouping and Arrangement: If you have multiple frames to hang, experiment with different arrangements to create an appealing display. You can try arranging them in a grid pattern, a gallery wall style, or in a staggered formation.
Cleaning and Maintenance: Never spray a glass cleaner onto the glass in the frame. Spray your cloth and then wipe the glass. Regularly dust your framed artwork with a soft, lint-free cloth to keep it clean. If needed, use a non-abrasive cleaner specifically designed for frames or glass.

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

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