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Corporate or Personally Owned Life Insurance

There may be substantial tax benefits to corporate owned life insurance that business owners need to consider. We always encourage our clients to speak with their Accountants and Financial Advisors in addition to their Insurance Provider when it comes to life insurance. In the 2012 federal budget there were proposed changes to the exempt test…

Corporate Reorganizations for the Business Owner

Corporate Reorganizations for the Business Owner

Many corporations explore using corporate reorganizations to achieve planning objectives for their shareholders. For example, creditor protection and income splitting to name two key objectives. However, what may appear to be a common transaction can lead to unforeseen income tax consequences when dealing with non-arm’s-length (NAL) parties. For the most part, shareholders are considered non-arm’s…

One Good Reason for the Owner/Manager of a Business to Incorporate

Business owners rarely give enough thought on how to properly structure their business. We are particularly taken by how they fail to make use of their corporate structure, especially if there is the ability to do business by way of incorporation. If you are doing business as a sole proprietorship, you will be personally taxed…

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