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Corporately Owned Insurance - Sterling Rempel & Achen Henderson CPA (You Tube Video)

Sterling Rempel & Achen Henderson via Youtube • Oct 28, 2020

Ever Wondered Why Corporations own Life Insurance?  Its not fear of death.  Its Fear of Taxes.  

Corporately owned Life insurance has so many benefits, including more efficient premiums, shareholder protection, Collateral value, Vested Gains, non taxable dividends, and more.

Today Tax On Split Income (TOSI), Passive Investment Income Tax (PIIT),  Small Business Deduction Grind - (SBD Grind) and Lifetime Capital Gains Exemption Loss (LCGE Loss) are real factors to consider when managing investments inside a Corporation.    

Sterling Rempel and Achen Henderson discuss these matters in an informative and humorous way in this YouTube clip.  Its what I've been doing with my best corporate client for years.  Thanks Sterling and Achen for the excellent production.   (Click on the picture for the video)
https://www.youtube.com/watch?v=_R0lWheZBDE

Paul 

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Hope Help Pride Fear More than 4 letter words

4 Letter Words. Hope, Help, Pride, FEAR

By Paul • 27 Jan, 2021
A Financial Planner is a trusted role. Empathy, understanding, free of judgement or blame. The advisor must embrace the client and fearlessly know the client to the point that the client can feel safe enough that they will permit their best interests to be served, beyond and often contrary to their pride and ego.

Professional Corporations Year Enders

By Paul Dwyer • 12 Dec, 2020
Planning Is Important... At this time of year, finishing up with a good grip of your basic numbers for planning next year is CRITICAL. As a Professional Corporation, planning your tax obligations and Pandemic support qualification. are just a few areas where Knowing your basic numbers are critical... Take the time get close and personal with your business. We're here if you need to ask questions or just talk an idea through. Salary and Dividends Mix... TOSI - Tax On Split Income - demands reasonable wages be paid to family staff members. There's a Schedule at this link. PWC Year End Tax Tips . Be sure and consult your qualified professional before any tax strategies are implemented. Passive Investments in your Corporation.. PIT - Passive Income Tax, within your Corporation is a serious issue. Staying under this year's threshold is critical. While its late, its never too late... and you're better off knowing where you stand than not. Check out the PWC Year End Tax Tips to be clear. Pandemic Response... CEWS - Canada Emergency Wage Subsidy CEBA - Canada Emergency Business Account (interest free loans) CERS - Canada Emergency Rent Subsidy and more. See the Federal Government's Guide Here . Again seek guidance from your professional advisor to be certain what you should be aware of Depreciation and Operating Expenses... Amortization, CCA, or Depreciation is a deductible expense. You should have an understanding of what your deductions are on Capital Assets annually. This informs you of budgeting for other programs like Employee Benefits and Elastic Expenses. And while you're at it. Call your Business Insurance Broker. Tell them you love them and ask for a Claims Experience Letter - Just for file purposes. It serves to remind your broker that you are always evaluating their value... (Keeps them on their toes) and it keeps you informed of how all insurers see you, just in case there's a mistake on the file you'll know it. Happy Year End. Paul
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