Business Owners

Federal Budget 2023 Highlights

March 29, 20232023, Blog, Business Owners, dental benefits, Family, Financial Planning, Individuals

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.

Ontario 2023 Budget Highlights

March 24, 2023Blog, Business Owners, Individuals, Ontario Only, Tax

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.

British Columbia 2023 Budget Highlights

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

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.

2022 Year End Tax Tips and Strategies for Business Owners

December 6, 20222022, 2022 Only, Blog, Business Owners, Financial Planning, Tax

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.

Financial Planning For Self-Employed Contractors

September 1, 2022Blog, Business Owners

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!

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

July 5, 2022Blog, Business Owners, corporate, Tax

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.

Estate Planning for Business Owners

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

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.

Easy Exit: Business Succession in a Nutshell

March 4, 2022Blog, Business Ownersbusiness owners, business succession, key person

Getting into the world of business is a meticulous task, but so is getting out of it Whether you’ve just hit the ground running on your business or if you’ve been at it for a long time, there is no better time to plan your exit strategy than now.

2021 Year-End Tax Tips for Business Owners

December 1, 20212021, Blog, Business Owners, corporate

We’re approaching the end of the year, so it’s time to review your business finances. We’ve put together an article highlighting the most critical tax-planning tips you need to know as a business owner.

We’ve focused on:
• How to determine the right salary and dividend mix.
• The best ways to handle compensation.
• How to make sure you can take advantage of the small business deduction.
• What you need to know about depreciable assets and charitable donations.
• How to make the most of Covid-19 relief programs.

Importance of a Buy-Sell Agreement

July 2, 2021Blog, Business Owners, Buy Sell

Working as a partnership between 2 or more individuals is never an easy task, and the situation only gets more complicated when one or more of them exits the business. Protecting not only the business, but your personal interests, as well as your family’s future are very important objectives for any business owner, and should not be overlooked.

Category: Business Owners

Federal Budget 2023 Highlights

Ontario 2023 Budget Highlights

British Columbia 2023 Budget Highlights

2022 Year End Tax Tips and Strategies for Business Owners

Financial Planning For Self-Employed Contractors

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

Estate Planning for Business Owners

Easy Exit: Business Succession in a Nutshell

2021 Year-End Tax Tips for Business Owners

Importance of a Buy-Sell Agreement

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

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