A detailed look at financial planning strategies surrounding professional corporations for doctors, dentists, lawyers, business owners and other Canadian professionals.
If you’re a doctor, a dentist, a lawyer, or a business owner–virtually any type of professional in Canada–you strongly need to consider how incorporating fits into your financial plan.
A good financial planner should acknowledge they have absolutely no control of the markets. However, taxes are completely controllable, and having a corporation is a powerful tool that allows professionals to control their tax bill.Using a mix of personal observations, real-life examples, and strategy evaluations, this book guides the professional along their path to using their corporation in the most efficient way.
Kickstart Your Corporation: The Incorporated Professional’s Financial Planning Coach is your practical guide to controlling your tax bill and taking advantage of all that a Professional Corporation has to offer. Drawing upon decades of hands-on experience in wealth management, author Andrew Feindel provides clear and accurate advice on making the incorporation decision, setting up and investing inside your corporation, optimizing your salary and dividend compensation mix, valuing permanent insurance on your corporate balance sheet, using prudent leverage, weighing the pros and cons of active or passive investment management, using alternative strategies like a Capital Gains Strip, Individual Pension Plans and Retirement Compensation Arrangements, and much more. This must-have book:
* Provides Canadian professionals with an accurate and straightforward investment and financial planning guide to incorporation
* Covers the basics of incorporating for the professional and business owner, including a review of the process and the costs to incorporate, and the likely benefits
* Analyzes the best financial strategy for various situations
* Offers real-world advice on structuring compensation, risk management, borrowing to invest, and the role of trusts in professionals’ financial plans
* Written by a senior vice president at an independent leading-edge wealth management firm
Kickstart Your Corporation: The Incorporated Professional’s Financial Planning Coach is essential reading for any professional who has incorporated and is looking to maximize benefits, and those wanting to incorporate for the first time with expert guidance.
Jadual kandungan
Acknowledgments xvii
About the Author xix
Introduction: The Value of a Coach xxi
Chapter 1: Incorporation 101 1
Chapter 2: The Compensation Decision: Salary or Dividends? 25
Chapter 3: Investing Inside Your Corporation 51
Chapter 4: Valuing Permanent Insurance on the Holistic Corporate Balance Sheet 73
Chapter 5: Risk Management 93
Chapter 6: Borrowing to Invest 115
Chapter 7: Investing: Active or Passive? 139
Chapter 8: The Role of Trusts in Your Financial Plan 163
Chapter 9: Alternative Investment Strategies 183
Chapter 10: Pulling It All Together: Your Financial Plan 209
Utilizing Tax-Efficient Strategies 237
Index 255
Mengenai Pengarang
ANDREW FEINDEL, CFA, CFP, CLU, CIM, CSWP, FCSI, FMA, CSA, HBA, is Senior Vice President and Investment Advisor at Richardson GMP. He is a graduate of the Richard Ivey School of Business and the Stockholm School of Economics. He is a Chartered Financial Analyst and Certified Financial Planner.
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