10 key decisions to maximize your personal and business wealth

Jul 23, 2019 | Stephanie Woo


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Whether you’re already a business owner or thinking about becoming one, the decisions you make will have far-reaching implications. Our team offers a guide explaining ten key decisions for wherever you may be, on your challenging and rewarding business journey, including:

Multiplying the $866,912 lifetime capital gains exemption by adding family members as common shareholders of your company through a family trust.

Benefit from the tax-deferral opportunities of the corporate taxation structure – use the additional funds in the corporation to pay off debt, purchase capital assets, acquire investments or fund an insurance policy

Greater tax-deductible retirement contributions – by contributing to an Individual Pension Plan instead of a regular RRSP.

Key decision 1: What is the best structure for your business?

Key decision 2: How can you reduce taxes?

Key decision 3: What should you do with surplus cash?

Key decision 4: How can you build employee loyalty?

Key decision 5: How will you reduce your risk?

Key decision 6: What can you do to deal with the unexpected?

Key decision 7: Do you intend to retire from your business?

Key decision 8: Will you sell your business?

Key decision 9: How can you keep your business in the family?

Key decision 10: What will you do once you’ve retired?

Making the right financial decisions for you, your business and your family is a big responsibility and we can help.  With the access to resources and experts of our industry leading wealth management team, Stephanie Woo can help guide you every step of the way.  Contact her at 604.257.3234 or stephanie.woo@rbc.com to learn more.