Whether you’re already a business owner or thinking about becoming one, the decisions you make will have far-reaching implications – not only for your business but also for you and your family. A business consumes a large portion of your resources, time, and...
One of the biggest secrets that successful business owners and entrepreneurs often don’t know about is the capital dividend account. The capital dividend account is a notional account, which means you will not see it unless there’s a balance. It allows for life...
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...
The Small Business Deduction, “reduces the corporate income tax that a corporation would otherwise have to pay in a taxation year throughout which it was a Canadian-controlled private corporation (CCPC)”. As the Government of Canada continues to outline, “A...
Passive income is a smart way to build wealth without overworking yourself. But you won’t the full benefit of a steady stream of passive income if you’re giving too much of that money to the CRA. In this blog, we explain the difference between active and passive...
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...
Traditionally Registered Retirement Savings Plans (RRSPs) were the number one tool for Canadians to build their retirement funds. But if you’re a successful business owner, the chances are that you’ll never see the real benefit of an RRSP because they’re not set up...
We see many professionals and business owners wanting to grow and build their businesses. They know incorporating is a goal of theirs, but they often feel lost when it comes to knowing when it’s the right time to incorporate and how to do it. What are the Benefits...
As a business owner or incorporated professional, learning how to efficiently manage your cash flow is an important steppingstone to getting clarity in your finances. An unclear cash flow strategy and the failure to separate your personal and business finances will...
If you’ve built a successful and profitable business, congratulations! As you accumulate profits inside of your business, you’re probably asking yourself how you can best utilize that money. Instead of letting your money sit in your corporation, it’s time to invest...
