Questions you may have asked yourself:

·        How do I deal with my retained earnings in a tax-effective manner?

·        Am I taking advantage of potential Canada Revenue Agency (CRA) tax breaks?

·        Do I have enough to retire?

·        Will I outlive my money?

·        Do I have a plan to get my money out of my company tax efficiently?

·        Should I have a holding company?

·        Do I have a plan to reward and retain my best employees?

·        Do I want my partner’s wife, husband, family to be my new partner if my partner dies or becomes disabled?

·        What happens to my business if I become disabled or sick?

·        How do I treat my children fairly, but not necessarily equally in my estate plan?

I can help you answer these and many more questions that you may have!

What do you want to accomplish?

Business Continuation

  • Key person insurance: Provides tax-free dollars to offset financial loss arising from the death or disability of a key employee
  • Business loan protection: Provides tax-free dollars to repay business loans/lines of credit in the event of death or disability of an owner or key employee
  • Business transfer: Provides tax-free dollars to properly fund the buyout of shares in the event of death or disability of a partner
  • Enhanced retirement program:  A tax-effective way for your company to benefit from corporate-owned life insurance policies

Retirement Planning

  • Registered retirement savings plans (RRSPs) and potential creditor protection: Accumulate tax-deferred funds for retirement, with potential protection from creditors
  • Corporate asset transfer: A tax-effective method of transferring retained earnings into a personal asset
  • Balance sheet hedging strategy: Using corporate dollars and other people’s money to mitigate risk and build a personal asset
  • Annuities/registered retirement income funds (RRIFs): Provide an income flow to match your needs at retirement
  • Retirement protection: Continued retirement savings when you are disabled
  • Registered Pension Plans (RPP) / Individual Pension Plans (IPP)
  • Retirement Compensation Arrangements (RCAs)

Estate Planning & Wealth Transfer

  • Estate creation: Provides immediate tax-free dollars to allow your family to pay off all debts and maintain their lifestyle if you die too soon
  • Estate conservation: Provides liquid tax-free dollars to meet capital gains tax, other taxes, outstanding debts and administration costs arising on death
  • Estate equalization: Provides funds to equalize distribution of estate where needed
  • Disability income: Provides maximum after-tax income to maintain your present and future lifestyle without burdening the business

Employee Benefits

  • Life and disability insurance: Establish a company policy to treat all employees fairly and transfer risk to an insurance carrier — tailor disability benefits for owners and key persons to suit individual income needs
  • Health and dental benefits: Design a group benefits plan to attract and retain good employees – your most valuable asset!
  • Health and welfare trust: Change personal after-tax health and dental expenses to a company deduction
  • Pension/Group RRSP: Install, analyze and administer retirement plans for you and your employees

You probably don’t have time to read this

You’re in business, your time is valuable. Like most business owners, you want to get from A to B in the most effective way. What you may have missed on your journey could cost you dearly. By understanding your goals, I’ll help you paint a picture of your present situation, identify areas of risk and lay a solid foundation to help you build your business and achieve your goals. When required, through Freedom 55 Financial, I have access to specialists to provide unique business solutions. By taking time to answer the questions in this document, you’ll gain valuable insight into areas that you may not have thought about before.

My mission

It’s simple: to help you get from A to B with as little deviation as possible, in the most effective way.

The value of planning ahead

A sound financial security plan will outline your path from point A to point B. It answers questions such as:

  • How much money do I need to retire comfortably?
  • How will my debts affect my financial future?

A financial security plan guides you along the way. It’s a living document that reflects changes at every stage of your life and business.

When you own your own business, you want to consider ways to cover risks your business faces, and ways to help protect your employees. I can help you plan ahead to protect your business. For example, insurance can help:

  • Fund a future capital gains tax on the shares of the corporation at death of the owner
  • Fund a buy-sell agreement at the death of one of the co-owners of the business
  • Provide key person coverage
  • Provide long-term debt retirement coverage in the event of the death of an owner or key person
  • Be used to transfer retained earnings from an operating company to a holding company

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