10 Simple Ways to Pay Less Tax Through Your Business?

tax strategies

This week’s federal government budget illustrated that the federal government might be easing off its assault on small business owners.  They are moving forward with the proposal to eliminate the tax on split income (TOSI) for dividends paid to non-participating family members within a business.  They have eased off on the passive investment income that a business owner can keep … Read More

The 5 Important Roles of Insurance During Divorce

Insurance during divorce

The more complex a family’s financial affairs, the more complicated it becomes during a divorce.  The role of insurance during divorce is vital to the protection of both parties and the children of the marriage.  Whether it involves life insurance, critical illness, disability or health insurance, all types of insurance can and should factor into a divorce settlement.  If the marital … Read More

How Can You Tame Market Volatility by Using Segregated Funds?

Managing Group Benefit Costs

Locking In Gains, Creditor Protection, Principle Investment Guarantees,  Estate Planning are a Few Reasons why you may want to look at Segregated Funds as an Investment Option. Asking the average investor if they regret being in equities the past 8 years, you would have heard a resounding “NO”…. until February 2018, which saw a huge market correction.  Many boasts about … Read More

What is the Best Gift You Can Leave for your Grandchildren?

So how do you leave a legacy behind and not compromise your current financial situation?  If you are a grandparent wishing to provide an asset for your grandchildren without compromising your own financial security, you may want to consider an estate planning application known as cascading life insurance.   Because permanent life insurance is a high cost to purchase in your … Read More

CPP Controversy: Should You Take it Early or Leave it Until Later?

The most recent rules governing CPP were introduced in 2012, and they took full effect in 2016.  The earliest you can take your CPP Pension is age 60, and the latest is 70. The standard question regarding CPP should you take it early? While you can elect to start receiving CPP at age 60, the discount rate under the new … Read More

Business Owner Alert: Seeking Something Amazing if You’ve Maxed Out Your RRSPs?

Maxed Out RRSPs

The challenge for many business owners, they either haven’t contributed enough to one’s RRSP, or they’ve maxed out your RRSP contributions for the year.  The challenge is RRSP contribution room is derived from one’s T4 income from previous years.  If you choose to take money from your business in the form of a dividend, this doesn’t count towards RRSP eligible … Read More

8 Clever Uses of Life Insurance by Business Owners

Life insurance

Not many people say they love buying or the process of buying life insurance.  Who wants to discuss the eventual demise of oneself?  There are certain situations which are reliant upon life insurance to create an insurgency of cash into a business when weathering the loss of a business owner.  There are, however, clever uses of life insurance by business … Read More

Difficult Decision: So Should You Invest in a TFSA or RRSP This Year?

TFSA or RRSP

Business owners have far more options available to them they may realize.  The question may not be whether TFSA or RRSP but instead, what is the best investment vehicle for business owners?  TFSAs are available regardless of income, that is they don’t need T4 income to qualify.  Therefore dividend income which doesn’t qualify as T4 income is eligible to be … Read More

Do Employee Benefit Plans and Medical Marijuana Mix?

marijuana and benefit plans

A common question I receive from benefit plan administrators is ‘how will medical marijuana affect our benefit plan’?  Usually, it stems from plan members asking if their plan includes medical marijuana as part of the offering.  Since the Liberal government’s legalization of the use of recreational marijuana in July 2018 is helping to fuel many of these discussions.  So how … Read More

3 Unique Ways That Business Owners Can Fund Their Retirement?

In light of all the changes proposed by the Federal Liberal Government in July 2017, the sensitivity around the excessive taxing of small business owners has raised some eyebrows.  The proposed changes took into consideration heavily taxing any passive income that exists within a business, scrutinizing how business owners sprinkle income to family members and some other controversial measures.  Even … Read More