Individuals who have incorporated their business such as consultants, contractors and professionals often find that providing affordable health and dental care coverage for themselves and their families can be an expensive proposition. Take Bob for example. Bob had just left…
Phew! Tax season is over! You have hopefully just filed your 2017 personal income tax returns. Was it a satisfying experience for you? Do you feel a sense of accomplishment or dismay? For many, the April 30th deadline seems to…
The Liberal Government’s Federal Budget was delivered by Finance Minister, Bill Morneau, on February 27, 2018. There had been much concern and speculation about the direction the budget would take with respect to the taxation of private corporations. This was…
Owners of private corporations should be concerned about proposed tax changes being explored by the Department of Finance. In the Federal Budget of March 2017, Finance expressed their concern that private corporations were being used by high income Canadians to…
If you are the owner of a private corporation you should be concerned about the commentary that is coming from the Department of Finance. In the Federal Budget of March 2017, Finance expressed their concern that private corporations were being…
If you are the owner of a successful company it is likely that you have retained profits or surplus cash in your corporation. If this is the case, chances are also good that this invested surplus is exposed to a…
Available until January 1, 2017 A New Approach A new method of structuring an insured annuity has restored its favourable results. The new approach involves combining the prescribed annuity with a Universal Life policy. The UL policy is funded with…
Don’t Put Off Your Decision to Buy Life Insurance 2016 is an opportune year to buy life insurance. New laws affecting the taxation of life insurance come into effect on January 1, 2017. After this date new policies will not…
The Trudeau government’s first budget contained a shock on the small business tax rate, and some smaller let-offs by Murad Hemmadi for ProfitGuide When Bill Morneau rose to deliver his first budget speech as Finance Minister in Justin Trudeau’s new…
Permanent life insurance, such as Whole Life or Universal Life, has long been accepted as a tax efficient way of accumulating cash for future needs. Soon the amount of funds that can be tax sheltered within a life insurance policy…