Financial Q&A: How do physicians prepare for being business owners?20220818135444
Financial Q&A: How do physicians prepare for being business owners?
Senior wealth advisor David Bourada talks about how physicians need to prepare for business ownership, and what is missing from their support network. IP Private Wealth provides 360° wealth management and financial planning for affluent Canadians of high net worth through a Family Office model....
Should I Pay Myself in Salary or Dividends?20211116182741
Should I Pay Myself in Salary or Dividends?
It comes up in every initial meeting we have with a business owner: the question of salary versus dividends. Both are legitimate ways to draw an income from your corporation, but both have their pros and cons. There’s 3 main ways to pay yourself as a business owner. When it comes to paying yourself from […]...
Health Spending Accounts: the benefit plan alternative20210720171339
Health Spending Accounts: the benefit plan alternative
An HSA (also called a Private Health Services Plan) is a method to provide medical, dental and vision benefits in a tax efficient manner; it is Canada Revenue Agency-approved (when constructed properly). A corporation can write off 100% of the costs related to its HSA and all expenses are reimbursed tax-free to the employees ....
Interview with Richard Kluska: Exit Strategies Part 2 – Keeping Busy After Exiting20210422184629
Interview with Richard Kluska: Exit Strategies Part 2 – Keeping Busy After Exiting
Exiting a business isn’t a one-size-fits-all situation. Everyone is going to have a different idea of what their ideal retirement looks like. A big issue for many people is that they still aren’t ready for the retired life when it comes time to exit their business. So what are they supposed to do with their […]...
Is the Third Wave ‘Strike Three’ for Small Business?20210422181856
Is the Third Wave ‘Strike Three’ for Small Business?
As Canada finds itself immersed in the third Canadian wave of the COVID-19 pandemic, a multitude of businesses have been locked down again. There’s one pressing question on the minds of business owners everywhere: will Wave Three be Strike Three for small business? It will depend, says the experts. “For some businesses, COVID has provided […]...