Why the Most Successful Business Owners Never Build Alone
This article is for educational purposes only and does not constitute individual financial, tax, or…
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What Happens to Your Money When You Die in Canada?
Canada does not have an estate tax. But when you die, the government may still take a large share of your money. Learn what really happens — in simple, clear language. By Esther Sande, RWM™, Horizon Growth.
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How to Reduce Taxes for Business Owners in Canada
Compliance Disclaimer This content is for educational purposes only and does not constitute legal, tax,…
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How Parkinson’s Law Is Quietly Eating Your Savings. And How to Fight Back
Parkinson’s Law is silently wrecking your finances. Discover how this mindset trap causes high earners to overspend and learn 3 powerful strategies to save more, build wealth, and stay financially disciplined.
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Why Profitable Businesses Still Fail at Wealth Creation (And How to Fix It)
Can a business that makes good money still be losing value? This is a question…
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2024 Year-End Tax Tips and Strategies for Business Owners
Discover essential 2024 tax strategies tailored for business owners! From optimizing compensation and preserving the Small Business Deduction to maximizing the Lifetime Capital Gains Exemption, these tips can help save on taxes while planning for your business’s future.
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Insurance Planning for Business Owners
For business owners, making sure your business is financially protected can be overwhelming. Business owners face a unique set of challenges when it comes to managing risk. Insurance can play an important role.
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Do you REALLY need life insurance?
You most likely do, but the more important question is, What kind? Whether you’re a young professional starting out, a devoted parent or a successful CEO, securing a life insurance policy is probably one of the most important decisions you will have to make in your adult life. Most people would agree that having financial safety nets in place is a good way to make sure that your loved ones will be taken care of when you pass away. Insurance can also help support your financial obligations and even take care of your estate liabilities.
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Stay Ahead in 2024: A Comprehensive Checklist for Federal Tax Updates
Explore the upcoming 2024 Canadian tax changes affecting investors, business owners, and high-net-worth individuals. From capital gains adjustments to new incentives, stay informed with our comprehensive checklist.
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2024 Federal Budget Highlights
On April 16, 2024, Canada’s Deputy Prime Minister and Finance Minister, Chrystia Freeland, presented the federal budget.
While there are no changes to federal personal or corporate tax rates, the budget introduces:• An increase in the portion of capital gains subject to tax, rising from 50% to 66.67%, starting June 25, 2024. However, individual gains up to $250,000 annually will retain the 50% rate.
• The lifetime exemption limit for capital gains has been raised to $1.25 million. Additionally, a new one-third inclusion rate is set for up to $2 million in capital gains for entrepreneurs.
• The budget confirms the alternative minimum tax changes planned for January 1, 2024 but lessens their impact on charitable contributions.
• This year’s budget emphasizes making housing more affordable. It provides incentives for building rental properties specifically designed for long-term tenants.
• Introduces new support measures to aid people buying their first homes.
• Costs for specific patents and tech equipment and software can now be written off immediately.
• Canada carbon rebate for small business
