In February, Canada's federal government released the Budget 2018, outlining the Liberal administration's economic agenda for the year. While this year's budget focused mainly on providing incentives for Canada's growing middle class, it also contained a number of changes that directly affect...
Read PostTop Reasons Why You Should Consider Life Insurance
Since her early twenties, Danica Patrick has driven a racecar for a living. She is the most successful woman in the history of American racing and became the first female NASCAR driver to win a NASCAR Sprint Cup Series. It’s a risky profession and she’s chosen to manage the risk, in part,...
Read PostJim Harbaugh’s Creative Compensation Agreement
University of Michigan and football coach, Jim Harbaugh, recently agreed to a very creative compensation agreement. It highlights yet another way you can use life insurance creatively as a tax-free form of compensation. In addition to paying him $5 million in salary, the University of Michigan...
Read PostWhy I Invested in Life Insurance and How to Use It
Clients often ask me if I have life insurance. When you look at life insurance as an asset class (not just a death benefit) and consider the tax and investments benefits, it’s a financial tool I strongly believe in, which is why I invest $42,000 in annual premiums into whole-life insurance, which...
Read PostWhy it Makes Sense to Consider an Executive Health Savings Plan …
We work with hundreds of business owners and in the last five years, we’ve received many phone calls letting us know that someone’s become ill; it’s not unusual to hear that it’s the business owner whose suffered a heart attack, stroke or cancer. If you look at your own...
Read PostHow To Use Life Insurance Creatively
How To Use Life Insurance Creatively When you mention the words life insurance, people’s attention starts to waiver, usually because most of us only know it as a catastrophic death benefit and very few people want to think about, much less plan for death. However, if you care about investment...
Read PostSaving Money Inside Your Corporation
Often private business owners are advised to pay themselves enough of a salary and bonus to ensure they can maximize their retirement contributions each year, regardless of whether they actually need the salary personally. A business report, published by CIBC Wood Gundy, highlighted that if...
Read Post4 Canadian Tax Shelters You Need to Know
For many of our clients, the financial focus is usually around saving money and paying less in taxes; while you may be aware of the traditional ways they can minimize your tax exposure, youʼre likely not aware of one of the best Canadian tax shelter ... 1. Your Home Benefit • Annual...
Read PostHow to Pull Money Out of Your Corporation Tax-Free?
If you’re a business owner whose company is profitable and growing (or transitioning) and you want to pay less in taxes and keep more for your loved ones, you will want to pay attention to corporate owned life-insurance. Why? Because it can help you pull money out of your business tax-free (or...
Read PostThe Story of Frog Box …
Most Vancouverites who have ever moved or are raving fans of CBC’s Dragons’ Den have likely heard of Frog Box - the reusable moving box rental company that’s locally based. Frog Box’s notoriety began when they secured financing from the celebrity investors on Dragons’ Den and went on to...
Read Post