If you haven’t already thought about starting a Individual Pension Plan (IPP), they’re worth looking into. The IPP is a registered plan for business (CCPC) owners and incorporated professionals such…
Tag: small business
Holding Companies
What is a holding company? A holding company is simply a corporation that does nothing but own a controlling interest (shares) of one or more other companies that are actually…
Income Sprinkling under the Microscope
The common small business practice of income sprinkling – distributing business income among the owner’s family members using dividends, with the aim of reducing the family’s overall tax – has…
Advisor.ca article: How tax rules disadvantage family business succession
by Simon Doyle and Melissa Shin Many business owners dream of passing their businesses on to their children. But thanks to a specific anti-avoidance tax rule, it’s often more profitable…
CPA Magazine article: The secrets to his success
Although coming from modest beginnings, Michael Lee-Chin has learned a thing or two about building wealth — and also how to weather a financial storm. Michael Lee-Chin shouldn’t have been…
How SMEs Can Avoid Common Pitfalls
Small business owners often limit their potential for financial success through lack of awareness and careful planning, says Jennifer Black, president of Dedicated Financial Solutions, a financial planning company based…