What Matters is What You Keep - Year End Tax Planning for Investors and Owner-Managers

There is no doubt your clients are interested in knowing how to inflation proof and recession-proof their wealth and navigate successfully through emerging risks from the CRA.

To accomplish the former, advisors must have broader knowledge on upcoming tax changes and how astute investment planning in a very new economic environment can help clients maximize after-tax income and reduce capital erosion.

Owner-managers of businesses operating in Canada have some unique options available to them that may not be available to the average taxpayer. This allows the business owner to structure their financial affairs using tools available through the business – but the availability of these tools is determined by the business structure itself.

Business owners are well suited to the four elements of Real Wealth Management® - Accumulation, Growth, Preservation and Transition of Wealth; after costs, inflation and income taxes.

Opportunity

We are introducing a new course Year End Tax Planning for Investors and Owner-Managers to help you increase your knowledge and learn more on the following:

• The ability to identify the ways in which business income can be earned and an understanding of how tax applies to such income.
• Gain an understanding, from a family perspective, in planning a compensation program.
• Understand the technical and ‘soft’ issues that arise under income tax law when a salary is paid. Identify and access CRA and other resource materials in evaluating the income tax treatment of employment-related benefits.
• How to split corporate income out to family members using salaries and benefits, dividends, family trusts and holding companies.
• Recognize potential tax issues and tax saving opportunities when a person plans to purchase property “across the border”.
• How to structure deferred income plans, including registered and non-registered pension plans, registered retirement savings plans, TFSA planning, deferred profit-sharing plans, retirement compensation arrangements and salary deferral arrangements.

In addition, you will acquire the knowledge and skills required to provide advice throughout the year with a view to minimizing the total amount of income taxes paid by the family. You will also apply recent personal/corporate tax changes to the family’s best benefit using true-to-life case studies. This newly updated course will explain how and provide the experience and credentials to better manage owner-manager compensation.

As you complete this course you will understand the four elements and how they can be maximized for the owner-manager and how you can apply this to the unique planning needs of some your most valued clients. This can be a real differentiator for your practice.

Scope of Content

Chapter 1 – The Taxation of Business Income

Chapter 2 – Understanding Family Compensation Requirements

Chapter 3 – Income Tax Treatment of Benefits, Salary & Bonuses

Chapter 4 – Basic Issues in Using a Holding Company or Trust

Chapter 5 – Cross Border Issues Owning and Selling Property in the U.S.

Chapter 6 – Planning with Self-funded, Tax-Advantaged Sources

Chapter 7 – Tax on Split Income (TOSI)

Bottom Line: Year End Tax Planning for Investors and Owner-Managers is a complex issue that likely affects a growing segmentation of your client base. Being well-versed in this area not only differentiates yourself from your competitors but provides true value to your clients which will not only be appreciated but strengthen your relationship.

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