As we head towards the end of 2018 we wrapped up another successful year of our ongoing community educational seminar series. Our most recent session was geared towards business owners and the ongoing changes and challenges that they face with taxes and business succession planning. We were fortunate to have Bobby Hinduja from our RBC Wealth Management's high net worth business owner planning team attend to provide some insight and ideas and to answer questions from the business owners in attendance. We addressed a number of topics at the session from how to minimize tax and maximize your business value when you sell or transition your business. We also discussed the new rules with regards to passive income and income splitting for business owners. The session was very engaging and informative and left the attendees with some ideas to think about and to take back to their own business and personal situations to ensure that they are properly prepared. 

 

We also addressed some ways that business owners are able to create loyalty and retention through their employees. While financial compensation often helps to attract key employees, some of the living benefits and non-financial benefits can also help to retain key employees. These added benefits are key for business owners to ensure that they are competitive to keep and attract key employees. Having these extra benefits through Group Retirement Plans, Individual Pension plans as well as the living benefits such as critical illness and disability insurance aim to help provide a strong work life balance and also create added value to all employees. We have been working with business owners to ensure that they have the tools available to create a strong social environment for their employees as well as to be able to recruit top talent in their industry. 

 

Please feel free to reach out if you have any questions with regards to the business owner session overview and I can forward some of information that was handed out at the session. 

 

Also please do let me if there are any topics in particular that you may want to hear at an upcoming session for 2019.