How Capital Gains Work for Business Owners
What Are Capital Gains? Capital gains are the profits you make from selling capital property such as real estate, stocks, business assets, units of a mutual fund, or land. You or your business will realize a capital gain when you sell a capital property for more than its cost plus any expenses incurred. This is […]
Why You Need a Financial Planner as a Business Owner
Financial planning is beneficial for everyone, but for business owners, the benefits grow drastically. Since your financial situation is much more complex, you can’t find the answers to your questions by searching the internet. This is where you need a financial planner to come in and help guide you. How Having a Financial Planner Can […]
Should You Own Rental Property in Your Holding Company?
Owning real estate is on the mind of many business owners. A question that comes up regularly is, “should I own my rental property inside my holding company instead of owning it personally?”. The answer depends on factors that primarily involve tax. Let’s learn the dos and don’ts of owning rental property inside your holding […]
The Capital Dividend Account Explained for Canadian Business Owners
The Capital Dividend Account is one of the most powerful tools a business owner can use, but very few are using it. This secret notional account could save you millions of dollars in tax. What is a Capital Dividend Account? A Capital Dividend Account (CDA) is generally used by Canadian business owners with a Canadian-Controlled […]
Corporate-Owned Life Insurance: The Benefits for Business Owners
Life insurance is not only beneficial when you pass away. It can be a valuable financial planning tool for when you’re alive. As a business owner, your life insurance can be corporately or personally owned. To maximize your corporate structure, let’s get into the strategy and benefits of owning insurance inside of your corporation. What […]