Blogs
We know stuff. Lot’s of stuff. So, we thought, why not share it?
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It has become our daily obsession to supply you with interesting (aka not boring) snippets of knowledge that will provide you with insight to help make your day a little easier. We’re positive, passionate people who are serious about creating an experience and sharing knowledge with you that’s unlike any personal finance company you’ve ever used. We hope it shows.
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The Different Types Of Life Insurance For Small Business Owners
Life is good… your business is up and running and the future is looking bright! And then the tragic and unexpected happens - your business partner suddenly passes away. You have not only lost your dear friend, colleague, collaborator, right-hand person, your “I could...
Funding Business Buy-Sell Agreements with Insurance
In order to ensure the orderly succession of a business, it is wise for business owners (whether they are incorporated or not) to enter into a buy-sell agreement. The buy-sell agreement creates the conditions for purchase due to an unexpected event to one or more of...
What should I look for in a disability policy?
There are many features of a disability insurance policy and they are all important. However, not every disability policy is the same and not every policy has the same features. Whether you are looking for disability insurance for a small...
Protecting your Child’s Money with In-trust Accounts
Parents and other relatives frequently use in-trust accounts to save money for a child that will be given to them when they reach the age of majority. These trusts are a convenient way for parents and grandparents to set aside funds for minor children, allowing...
Disability insurance for the small business owners
Did you know that there is a one-in-three chance of being disabled for a period of at least 90 days before age 65[1]? That's eight times the risk of premature death. The statistics also include disability leave as a result of mental health issues: As a business owner,...
War in Ukraine: How markets respond to acts of war
After several weeks of escalating tensions, on February 21, 2022 Russia announced that it would recognize two pro-Moscow areas of Ukraine – Donetsk and Lukansk – as independent states [1]. Russia then quickly moved troops into these two areas. Investors,...
The capital dividend account: a hidden value for businesses
Every private Canadian business has a tax account that is particularly valued by shareholders: the capital dividend account (CDA). What is so important about the CDA? When its balance is positive, it offers an exceptional tax advantage: to be able to withdraw a...
Why your business should have an advisory board
Often, business owners trust their instincts when making business decisions and sometimes they are right, other times, it lies with a vengeance. Imagine having a circle of trusted professionals you can call on when you have a question or need advice for your...
Succession planning and the IPP
Canada’s economic prosperity has been built by the ingenuity of its entrepreneurs and their families, who create and grow their business and employ millions of Canadians. Whether it be a corner store, restaurant, a potato farm, or a brewery; the family business...
To raise or not to raise
One may not think this to be a deep and philosophical question, but it is one that burrows deep in the minds of many employers. Small business owners want to offer benefits, but it is often overlooked in favour of raises with the assumption that it makes...
What are the next big Investment opportunities?
There is a lot going on in the markets between social media, Reddit, the rise of the DIY investor, hedge funds, the battle, etc. Many people have a FOMO (fear of missing out) which is often counterbalanced with FOL (the fear of losing). It is said that John D....
Corporate Class Investments: why pay taxes when you don’t have to?
No one likes to pay more taxes. Thankfully, there are some well-established ways for you to ease your tax burden and keep more money for yourself. If you are actively saving for retirement it is commonly recommended to diversify your portfolio, but it is also a good...
Selling your business? How the RCA can be an important planning tool
For majority of business owners, the sale of their business represents a bulk of their retirement savings. Years of hard work, sacrifices, and sweat equity has led to the moment of sale with a big pot of gold. The sale of the business is not always a share sale, and...
Unanimous Shareholder Agreement – could your business be at risk without one?
Many of our business-owning clients ask that we prepare a Unanimous Shareholder Agreement (“USA”), but when asked what they want to accomplish through a USA, they are not entirely sure. A USA can be a useful tool in creating certainty for the shareholders of a...
Mortgages for the self employed
Over 15% of Canadians are self-employed; many of whom are homeowners or would-be homeowners in need of mortgage financing. There are many advantages to being in business for yourself including the expenses you claim or write-off. While this may be a great tax-saving...
Digital afterlife, the ghosts of cyberspace
Your spouse, significant other, child, or someone you love, or even business partner passes away suddenly, the last thing we think of is what will happen to their digital assets, which are more than just Facebook or an Apple iCloud account. The issue is that many of...
Virtual watercooler
I’m writing this from the makeshift quarantine bunker in what used to be our spare bedroom — sweatpants on, snacking my way through my emergency rations, with my cat and dogs fighting each other in the background. I’m lucky that I could easily transition to...
Legal fees: what’s deductible and when?
For most Canadians, having to pay for legal services is an infrequent occurrence, and most Canadians would like to keep it that way. In many instances, the need to seek out and obtain legal services (and to pay for them) is associated with life’s more unwelcome...