No storm lasts forever. And, while the knee-jerk reaction to abandon your long-term portfolio strategy is natural, it can prove problematic. As a reminder, the best market strategy is built with an eye on the horizon; weathering the ups and downs of the present with a focus on the future leads to better chances of positive returns over the long-term.

The recent market drops are an understandable point of concern, but we urge you to consider them in a new light: as an opportunity for some creative tax planning.

Our professional organization for family business planning and life insurance, CALU has provided an in-depth account on the topic. Tax-specific highlights include further discussion of Bill C-208, increased access to the Small Business Deduction, amendments to tax treatment for “substantive” Canadian-Controlled Private Corporations (CCPCs), and more.

Retirement income planning is not once-size-fits-all; it can depend on lifestyle, the source of your assets, what you’re invested in, and more. There is one thing we can all count on in retirement, however: tax. And while it can’t be avoided altogether, proper planning can help you to reduce your taxes payable.

There are several steps one can take toward financial security including tracking your spending, living within your means, taking calculated risks, and investing in yourself.

Life insurance can allow you to provide financial security to your loved ones in the event of your passing, to ensure that they are taken care of now, and in the future.

In fact, over 59% of employees in Canada say that health and wellness benefits are important for increasing loyalty to their employer. Employee benefit plans can help to create a positive, healthy, and productive work environment.

Our finances impact nearly every aspect of our lives; as such, it is essential to ensure that you are in control of your financial well-being. A financial advisor can help to bring you closer to both your short- and long-term goals.

Corporately owned life insurance can play a key role in your investment diversification and estate plan. We’re here if you’d like to chat more about how it can help you to achieve an efficient tax and investment strategy now, and for your family’s future.

It begins with the purchase of a whole life insurance policy by a grandparent on their adult child and the grandchild is named as the beneficiary. The adult child is the contingent owner of the policy, and, once the grandparent passes, the adult child then becomes the outright owner. Eventually, the ownership of that policy will be transferred to that child.

Navigating these tax rules makes saving for the future harder. Many small business owners who rely on their businesses to earn and save for retirement are facing reduced levels of saving from inside of their companies.

As you think about how you’ll be paid during retirement, pay attention to RRSP/RRIF capital and have your corporate wealth carefully examined. The key in having a solid retirement income plan is properly integrating personal and corporate assets to ensure more capital is available while you are alive and for your estate.