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5 Ways To Use Your Corporation To Invest And Save Taxes

Many business owners and incorporated professionals don’t properly utilize their corporations when it comes to current, future, and end-of-life investment and tax-saving opportunities. If you own a corporation and want to maximize your investments and save on taxes today, during retirement, and at death, here are five ways you can use your corporation to invest and save taxes: 1. Pay yourself a dividend Make sure you pay yourself a dividend and not a salary. Paying yourself a dividend will save…

Corporate Investing Strategies | Ocean 6 Wealth Advisory

When To Pay Off Debt And When To Invest

One of the most common questions we get from our clients who are incorporated professionals and have corporate investment accounts is when to invest their corporate earnings and when to pay off personal debt. For every dollar that you earn that is not allocated to your essential expenses, you have the choice on how to allocate that money. You can pay off your debt or invest it. Which option will you choose to ensure you get the most of every…

When To Pay Off Debts | Ocean 6 Wealth Advisory

How To Use Life Insurance For Retirement

One of the biggest advantages of owning your own company is the ability to deduct business expenses so you are paying those expenses with pre-tax dollars. But what many entrepreneurs don’t realize is that although there are many things that are not deductible, there is still a big advantage if you buy them in your corporation.So instead of buying life insurance with your personal (after-tax) income, you can purchase it through your corporation with (after-tax) income which has been taxed at a much lower…

Life Insurance For Retirement Income | Ocean 6 Wealth Advisory

6 Estate Planning Tips To Help Your Family Financially When You Pass Away

For most of us, the biggest tax bill we will ever pay in our lives is at death. Unfortunately, planning how to reduce that bill right before that inevitable day is often too late.  Here are some estate planning tips that can help reduce your tax burden and make things easier for your family financially when you die.  Disclaimer: Estate planning is a complex process that needs to be carefully reviewed on a case by case basis. Though this review…

Estate Planning | Ocean 6 Wealth Advisory

How Most Financial Advisors In Canada Get Paid

Do you know what you are paying your financial advisor for? What value are you getting for the fees you are paying your financial advisor? Or do you even know you are paying your financial advisor fees?  Historically, what we see in our industry has been very backward. Most financial advisors are giving away free advice in the hope that clients will buy products from them or invest money with them. This model leaves the availability of advice to a…

How Financial Advisors Get Paid | Ocean 6 Wealth Advisory

How To Decide How Much Money To Take Out Of Your Corporation

As a business owner or incorporated professional, learning how to efficiently manage your cash flow is an important stepping stone to getting clarity in your finances. An unclear cash flow strategy and the failure to separate your personal and business finances will result in paying thousands of dollars to the CRA unnecessarily, which then becomes a tax problem.  Here are some tips to help you manage your cash flow and decide how much money to take out of your corporation:…

Taking Money Out Of Your Corporation | Ocean 6 Wealth Advisory

Growing An Investment Portfolio Inside Of Your Corporation

If you’ve built a successful and profitable business, congratulations! As you accumulate profits inside of your business, you’re probably asking yourself how you can best utilize that money.  Instead of letting your money sit in your corporation, it’s time to invest and grow that money like any other investment. In this article, we’ll go over some of the common strategies for growing your investment portfolio inside your corporation. Use A Holding Company For Your Investments  We highly encourage you to…

Growing Your Investment Portfolio | Ocean 6 Wealth Advisory

3 Tips For Calculating How Much Money You Need To Retire

One of the most common questions we get from successful business owners, entrepreneurs, and incorporated professionals is how much money do they need to retire. It’s a pressing question in the financial planning industry, but oftentimes it’s not the right question to ask.  Most successful business owners have the goal of achieving financial freedom which is different from retirement. If you love what you’re doing, it’s unlikely you are going to want to retire. If you hate what you’re doing, then…

Calculating Money Needed To Retire | Ocean 6 Wealth Advisory

How To Make A Cash Flow Plan & Get Clear On Where Your Money Is Going

Many business owners and incorporated professionals find it hard to properly structure their cash flow and this means they end up paying more tax. This decreases their ability to allocate cash towards their goals and prevents them from achieving what they want in life. In this article, we are going to explain how to structure your cash flow and get a clear picture of where your money is going.  3 Steps To Proper Cash Flow Planning 1. Do a full…

Cash Flow Plan | Ocean 6 Wealth Advisory

How To Calculate How Much Life Insurance You Need

Do you ever wonder if you have enough life insurance or if you’re properly covered? If so, you’re not alone. One of the most common questions we are asked by our clients is whether or not they have adequate life insurance coverage. In this article, we’re going to help you answer this question, and provide some guidance on how to calculate how much life insurance you need.  Why you should have life insurance If you’ve never purchased a life insurance…

Calculate Life Insurance Needs | Ocean 6 Wealth Advisory

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