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Category: Business Owners

2023 Year-End Tax Tips and Strategies for Business Owners

December 4, 20232023, Blog, Business Owners, TaxAbility Private Wealth

Maximize your tax benefits as a business owner in 2023! Learn key strategies for salary vs. dividends, passive investments, and more.

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Investing as a Business Owner 2023

November 1, 20232023, Blog, Business Owners, corporate, InvestmentAbility Private Wealth

Many business owners have built up earnings in their corporation and are looking for tax efficient ways to pull the earnings out to achieve their personal and business financial goals. We outline the factors to consider when investing as a corporation.

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Understanding Target Loss Ratio and Your Group Benefits Plan

October 3, 2023Blog, Business Owners, financial advice, Financial Planning, Group Benefits, health benefitsAbility Private Wealth

Unlock the mysteries of your group benefits plan! Discover how the target loss ratio (TLR) can influence your premiums and what it means for your company’s future. Dive in now!

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Federal Budget 2023 Highlights

March 29, 20232023, Blog, Business Owners, dental benefits, Family, Financial Planning, IndividualsFinancial Tech Tools

On March 28, 2023, the Federal Government released their 2032 budget. This article highlights the following financial measures:

• New transfer options associated with Bill C-208 for intergenerational transfer.
• New rules for employee ownership trusts.
• Changes to how the Alternative Minimum Tax is calculated.
• Improvements to Registered Education Savings Plans.
• Expanding access to Registered Disability Savings Plans.
• Grocery rebate.
• Deduction for tradespeople tool expenses.
• Automatic tax filing.
• New Canadian Dental Care Plan.

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Ontario 2023 Budget Highlights

March 24, 2023Blog, Business Owners, Individuals, Ontario Only, TaxAbility Private Wealth

On March 23, 2023, the Ontario Minister of Finance delivered the province’s 2023 budget. Our article covers the highlights as follows:

• Corporate tax credits.
• Indirect tax changes.
• Increased healthcare options.
• Supporting communities.
• Supporting the economy and infrastructure.

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British Columbia 2023 Budget Highlights

March 1, 2023Blog, Business Owners, corporate, Family, financial advice, Financial Planning, incorporated professionals, Individuals, personal finances, Retirement, TaxAbility Private Wealth

On February 28, 2023, the B.C. Minister of Finance announced the 2023 budget. We have highlighted the most important financial measures you need to know:

• Tax credit changes.
• Increases to the B.C Family Benefit.
• Carbon tax changes.
• Other important tax changes.
• Healthcare and housing spending.

Read More

2022 Year End Tax Tips and Strategies for Business Owners

December 6, 20222022, 2022 Only, Blog, Business Owners, Financial Planning, TaxAbility Private Wealth

The end of 2022 is quickly approaching – which means for business owners, it’s time to review tax tips and strategies to maximize your benefits.

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Financial Planning For Self-Employed Contractors

September 1, 2022Blog, Business OwnersAbility Private Wealth

Being a self-employed contractor can bring you a large cash flow and the satisfaction of being your own boss – but it can also make financial planning more complicated than being an employee.

When creating a financial plan, Self-employed contractors need to keep a number of items in mind. Read to find out!

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Five Ways To Withdraw Money From Your Business In A Tax-Efficient Manner

July 5, 2022Blog, Business Owners, corporate, TaxAbility Private Wealth

You have worked long and hard to build up your business, and now you are ready to withdraw money from your business’ bank account. But you don’t want to get hit with a huge tax bill. So here are 5 ways to withdraw money from your business in a tax-efficient manner.

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Estate Planning for Business Owners

April 1, 2022Blog, Business Owners, Estate Planning, Family, Life Insurancebusiness owners, estate planning, life insuranceAbility Private Wealth

What happens when the children grow up and they are no longer dependent on their parents? What happens to your other “baby”- the business? Estate planning for business owners deals with the personal and business assets.

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Recent Posts

  • 2023 Year-End Tax Tips and Strategies for Business Owners
  • 2023 Personal Year-End Tax Tips
  • Investing as a Business Owner 2023
  • Understanding Target Loss Ratio and Your Group Benefits Plan
  • First Home Savings Account (FHSA): What You Need to Know

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Contact Us

Derrick Lee-Shanok

derrick@abilitypcg.com

margareth@abilitypcg.com

416-875-1836

1-877-940-7377

416-860-7550

1500 Don Mills Rd. Suite 400 Toronto, ON M3B 3K4



Recent Articles

  • 2023 Year-End Tax Tips and Strategies for Business Owners
  • 2023 Personal Year-End Tax Tips
  • Investing as a Business Owner 2023
  • Understanding Target Loss Ratio and Your Group Benefits Plan
  • First Home Savings Account (FHSA): What You Need to Know

About

We believe in empowering our clients to participate in the creation and maintenance of their overall financial well being through proper education and ensuring an understanding of the possible outcomes involved in each decision.

Mutual funds, approved exempt market products and/or exchange traded funds are offered through Investia Financial Services Inc.

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Insurance products are offered through PPI Management Inc., a national licensed insurance marketing organization that support independent advisors with their business, and through multiple insurance companies.

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