Tips For Business Wealth Management Business owners work hard at perfecting their business to make a living, earn a profit and ultimately sell or transition the business to another group of owners or family members. At the end of the year, our income statements and balance sheets generally indicate whether we were successful. You work incredibly hard to streamline operations, … Read More
Why Philanthropy is a Good Investment: It’s Not Always Obvious
The COVID-19 pandemic added new levels of stress and uncertainty to the lives of most Canadians. No corner of society worldwide has been left untouched by the effects of the pandemic, especially the non-profit sector. The pandemic hit charities on all fronts. The weakening economy cut donations while government restrictions on social gatherings shut down fundraising events. Even as charities … 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
6 Reasons Why Wealthy Individuals Need Life Insurance?
If you have ever thought that life insurance was something you wouldn’t need after you reached a certain level of financial security, you might be interested in knowing why many wealthy individuals need life insurance and still carry large amounts of life insurance. Consider the following: A life insurance advisor in California recently placed a $201 million life insurance policy … Read More
Starting an Insured Retirement Plan to Ensure Your Retirement Goes as Planned?
Maximizing High Net Worth to Fund Retirement Plans for Business Owners So why would you want to set up an Insured Retirement Plan as a business owner? To dividend out your retained earning subjects you pay taxes at your personal marginal tax rate. Depending upon how much you pay yourself (Salary, Bonuses, Dividends) in any given year can mean that … Read More
Strongly Consider These 7 Points When Deciding to Take a Salary or Dividend
Many business owners struggle with whether to take a salary or dividend from their business. If you look at it strictly from a mathematical standpoint, the difference is like splitting hairs. The government has made that decision pretty easy from a monetary standpoint. In the hands of the business owner, the two are virtually the same. The advantages were obvious … Read More
What You Need to Know About Employee Benefit Plans for Business Owners?
Business Owners: An Important Guide to Employee Benefit Plans Business owners need to be aware of the vital parts of an employee benefit plan. Whether you manage the plan yourself or you have someone else within your business that acts as a benefits administrator, you need to be aware of some key elements that can reduce long term cost, create greater … Read More
What are the 12 Benefits of Permanent Life Insurance for Business Owners?
Best Corporate Financial Planning Considers the Benefits of Business Insurance Most people hate life insurance. There are even fewer people that want to buy life insurance. The people that like it are the individuals that realize what life insurance can do for them and their business. The only other people who want to buy life insurance are the one’s that … Read More