Incorporated Business Owners

Whether you are already a business owner or thinking about becoming one, your decisions will have far-reaching implications for your business and your family.  Click here to review some key considerations as a business owner.

As a business owner, you likely rely on the income generated by your business to fund your lifestyle.  Understanding how business income is taxed will provide you with the insight for making informed decisions on what to do with any surplus cash.  Click here to learn how income is taxed inside of a corporation. 

If you are considering incorporating your practice, you should take the time to learn about the advantages and drawbacks of incorporation. Click here to learn more.

 An Individual Pension Plan (IPP) is a defined benefit pension plan that is typically established by a company for a single person. It provides the maximum benefits permitted under the Income Tax Act, which generally allows for higher tax-deductible contributions than an RRSP.  Click here to learn more.  

When selling your business, the real bottom line is the after-tax funds your retain after the sale.  Click here to review a checklist of strategies to consider before and after selling your business.    

New rules that have come into effect may allow you to transfer your family business to a corporation controlled by your adult children or grandchildren, and realize a capital gain instead of a deemed dividend. This often results in much less tax payable by you.  Click here to learn more.