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Tailored Tax Strategy For Business Owner
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Corporate Tax Strategy for Retirement income
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Tailored Tax Strategy For Business Owner
- 5. Risk Management / Income Protection
- 11. Total Overview – left hand, right hand
- 12. Poor Tax Planning – no plan, the wrong plan
- 13. Stop giving your money away for NO REASON
- 14. Procrastination
- 15. Personally and by Advisor
- 16. Flaws in areas of:
- 20. Corporate Tax Planning Strategies
- 21. Move capital from your business Tax Effectively
- 22. How to Build a Personal Income with Corporate dollars, conservatively and tax effective
- 24. Invest in the Stock Market without putting your money at Risk
- 29. Funding a buy-sell agreement at the death of one of the co-owners of the business
- 34. 40 year old, non-smoker, male
- 35. Smart Co has $20,000 of after-tax earnings to invest each year
- 37. $578,454 Tax Free in year 1
- 38. $1,282,974 Tax Free in year 20
- 41. In year 20 John could take out $578,701 after tax
Notes de l'éditeur
- Explain part one that we are using an example of a person in the top tax bracket using 46.4% tax rate and interest income.Part two the $100,000 assume money is inside of an RRSP – taxes would be paid on withdrawal (tax liability of approximately $450,000) as a lump sum approx. $550,000 net still more than non-reg or all could be tax free if build up in TFSA, which would take years (with deposits of $5,000 per annum) based on today’s contribution maximums.
- We will be discussing business owners and individuals
- People who are not going to Retire why?
- Open end question.Pitcher Partners found that the average age of small business owners is 55 years and 81% of them plan to retire in the next ten years. However, 75% of them had no business exit strategy.In another survey, the Cameron Research Group showed than only 10% of small business owners had a documented succession plan. Another 44% had thought about succession but had no plan and nearly half or 46% had not given any thought to succession. Read more: http://www.articlesbase.com/business-ideas-articles/the-heartbreaking-exit-strategy-for-business-3148789.html#ixzz0yxEXqwACUnder Creative Commons License: Attribution
- Now the basic benefits of corporate insurance is
- Lets get back to the tax free investment account and how it works
- Corporation has capital in taxable environment$1 of life insurance paid on death does not necessarily equal $1 of CDA as the addition to CDA is reduced by the adjusted cost basis of the policyHowever the owner says im glad to leave a estate, but I wanna spend my money! My retirement my yacht.
- 3 ways to access the investmentsFor each method of withdrawing funds from the policy, one should seek professional advise (accountant, financial planner) to determine the most appropriate method.Withdraw money from the cash value of the policyTake a policy loan on your policy (interest charges)Use the policy as collateral to obtain a loan from a lending institution (complex, need to know advantages and disadvantages.Each method requires careful consideration.
- What can you invest in.Whole life guarantees 6% minLets examine the whole life div yield
- But john wants his income, his yacht
- John takes his income then dies