The 8 Things You Can Do to Ensure Your Business Survives Divorce (#7 is just Nasty)

ensure your business survives a divorce

Since the beginning of COVID, a few business owners have asked me what measures they should take to divorce-proof their business. I think the more appropriate question is how to divorce-ready your business. Similar to the assets of a marriage, a company’s assets are considered mutually owned within a marriage. The complexity of a business can be far more challenging … Read More

Did You Know These 7 Assets are Safe From Divorce?

division of assets divorce ontario

There are very few savings, assets or investments that are safe from divorce.  Depending on how proactive you are in addressing some of these items will determine how much you get to keep in the future versus what you may need to share if your marriage dissolves down the road.  Another potential opportunity is looking at something today with no … Read More

How the Individual Pension Plan Helps Business Owners Retire Wealthier?

In life and business, failure teaches us some incredible lessons.  Many of the ideas that I talk to business owners about today come from the mistakes that I made in my first business.  In one breath, I wish that I could have started my current business 20 years ago, however, if I had not experienced the challenges and hardships experienced … Read More

How Can You Have Your Child’s Private School Funded by your Business?

If you have a child with special needs, a learning disability or an illness that requires special schooling, you may be eligible to have your child’s private school funded by your business as a legitimate medical expense.   Many private schools cost $25,000 or more per year.  Obviously, parents who elect to send their healthy children to private school is … Read More

What’s the Advantage of Having a Holding Company? The Truth Revealed

Holding Company

A question that I’m often asked by business owners is “Do I Need a Holding Company or is my Operating Company enough?”  There are a number of potential opportunities that a Holdco, which owns shares in your OpCo, that can offer business owners a  huge advantage over just having an Opco.  We’ll take you through a few scenarios where a … Read More

Now, What are Your Options if you Don’t Qualify for Life Insurance?

It’s been said that the only people who want to buy life insurance are those who are uninsurable or don’t qualify for life insurance.  For those who are deemed uninsurable, there are some options for life insurance that you will want to be aware of.  Obviously, the younger and healthier you are, the lower your premiums.  But what happens if … Read More

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

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