How are a charity and the sale of your business even related? One represents the ultimate capitalist success story, and the other is an organization set up to provide help and raise money for those in need. Here’s the link. For many business owners selling your business represents the most significant tax event in your lifetime. Charity represents an excellent … Read More
8 Clever Uses of Life Insurance by Business Owners
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
Overcome These 5 Colossal Mistakes When Drafting Your Shareholders’ Agreement
If you own shares in a private corporation, you should be no stranger to a shareholder’s agreement. This document, which outlines how the company should be operated and the rights and responsibilities of the shareholders, is integral in protecting your rights as a stakeholder in the business. You may also be aware that there are significant benefits in funding your … Read More
8 Tips To Make Your Family Business Succession Plans Successful
Family Business Succession Plans Strategies If you are an owner in a family enterprise, the likelihood of your business successfully transitioning to the next generations is not very good. This has not changed over the years. Statistics show a failure rate of: 67% of businesses fail to succeed into the second generation 90% fail by the third generation With 80% to … Read More
Does your Business Qualify for the Small Business Capital Gains Exemption?
Selling Your Business Doesn’t Mean You Qualify for the Small Business Capital Gains Exemption As a business owner, you may be aware that when you dispose of shares in your business, you could receive an exemption on all or a portion of the capital gains that ordinarily would be taxable. This is due to the Lifetime Capital Gains Exemption which … Read More
What are the Keys To Planning a Successful Business Exit Strategy?
Can Your Business Exist Without You? Can You Exist Without Your Business? I meet with an average of 10 business owners every week. There’s a varied cross-section of industries, size of company and expectations of growth. Each owner’s idea of success is very different, as well. The one common denominator amongst them, however, is to leave a legacy and to … Read More