You've built a successful enterprise through hard work, support from key people and by making smart business decisions. Every day, the decisions you make affect the future success of your business and the people who depend on it.
But some of the most important decisions you need to make are easily overlooked while you focus on your day-to-day business priorities:
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How can you turn a $750,000 capital gains tax exemption into a $3-million tax exemption?
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How can you convert the equity in your business into an enhanced retirement benefit for you – and a big tax deduction for your business?
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What is the best way to protect your business from adverse events like divorce or disability?
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What should you do to get top dollar for your business if you're selling it – or reduce taxes if you're passing it on?
To help you make smart decisions to reduce taxes, minimize risk and enhance your retirement, please refer to the document provided below.
The Business Owner's Guide to Wealth Management
Business Succession Planning
A formal succession plan can assist business owners in planning a smooth and successful transition to retirement. For example, 50% of Canadian business owners plan to sell their businesses internally, and another 24% plan to sell or transfer to family members. Careful planning helps with the future of the business, as new owners have time to plan for their tenure and learn how to run the business successfully. Formal planning can also help to improve the financial stability of the business itself, and drive innovation as new leaders bring new ideas and energy. It can also help to minimize tax and, in the case of family businesses, maintain family harmony.
As you prepare for the transition of your own business, please refer to the documents provided below.
Succeeding in Succession
Estate Freeze
