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Category: corporate

Five Ways To Withdraw Money From Your Business In A Tax-Efficient Manner

August 1, 2022Blog, Business Owners, corporate, taxRosetta Springer

You have worked long and hard to build up your business, and now you are ready to withdraw money from your business’ bank account. But you don’t want to get hit with a huge tax bill. So here are 5 ways to withdraw money from your business in a tax-efficient manner.

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Retirement Planning for Business Owners – Checklist

April 1, 2022Blog, Business Owners, corporate, health benefits, Life Insurance, Long Term Care, pension plan, RRSP, Tax Free Savings Accountbusiness owners, retirementRosetta Springer

As a business owner, one of your challenges is learning how to balance between reinvesting into the business and setting money aside for personal savings. Since there are no longer employer-sponsored pension plans and the knowledge that retirement will come eventually, it’s important to have a retirement plan in place.

We’ve put together an infographic checklist that can help you get started on this.

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2021 Year-End Tax Tips for Business Owners

December 1, 20212021, Blog, Business Owners, corporateRosetta Springer

We’re approaching the end of the year, so it’s time to review your business finances. We’ve put together an article highlighting the most critical tax-planning tips you need to know as a business owner.

We’ve focused on:
• How to determine the right salary and dividend mix.
• The best ways to handle compensation.
• How to make sure you can take advantage of the small business deduction.
• What you need to know about depreciable assets and charitable donations.
• How to make the most of Covid-19 relief programs.

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Federal Budget 2021 Highlights

April 22, 20212021, Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, corporate, Debt, Family, financial advice, Financial Planning, incorporated professionals, individuals, personal finances, Professional Corporations, taxRosetta Springer

On April 19, 2021, the Federal Government released their 2021 budget. Our article contains highlights of the various financial measures in this budget, divided into three different sections:

• Business Highlights, including an extension to COVID-19 Emergency Business Supports, new programs to support job creation, and a change in interest deductibility limits.

• Individual Highlights, including details on the tax treatment and repayment of personal COVID-19 benefits (such as CERB), eligibility changes to the Disability Tax Credit, an increase in OAS for those 75 and up, and support for job skills retraining.

• Additional Highlights, including a proposed federal minimum wage of $15, changes to the GST New Housing Rebate conditions, and new or increased taxes in areas such as luxury goods, tobacco, and Canadian housing owned by non-resident foreign owners.

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Investing as a Business Owner

March 3, 2021Blog, Business Owners, corporate, Investment, RRSP, Tax Free Savings AccountRosetta Springer

Many business owners have built up earnings in their corporation and are looking for tax efficient ways to pull the earnings out to achieve their personal and business financial goals. We outline the factors to consider when investing as a corporation.

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Business Owners: 2020 Tax Planning Tips for the End of the Year

December 11, 20202020 Only, Blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporate, Estate Planning, financial advice, Financial Planning, incorporated professionals, Investment, Professional CorporationsRosetta Springer

It’s a great time to review your business finances now that we are nearing year-end. We have listed some of the critical areas to consider and provide you with some helpful guidelines to make sure that you cover all the essentials. We have divided our tax planning tips into four sections:

– Year-end tax checklist
– Remuneration
– Business tax
– Estate

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Highlights of the 2020 Federal Fall Economic Statement | Additional $20,000 CEBA loan available now

December 7, 2020Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, corporate, disability, Financial Planning, RDSP, taxRosetta Springer

Finance Minister Chrystia Freeland recently provided the government’s fall economic update. It included information on the government’s strategy for dealing with the COVID-19 pandemic and its plan to help shape the recovery. We’ve summarized the highlights for you:

• Corporate Tax Changes, including extensions to subsidy programs.

• Personal Tax Changes, including additional Canada Child Benefit Plan payments and a new “Work from home” tax credit.

• Indirect Tax Changes, including the proposal to charge GST/HST on services provided via digital platforms, as well as the temporary removal of GST/HST on face masks and shields.

For business owners, as of December 4th, the CEBA loan has been expanded by an additional $20,000.

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Accessing Corporate Earnings

September 1, 2020Blog, Business Owners, corporate, Life InsuranceRosetta Springer

One of the financial planning issues that business owners face is how to access their corporate earnings in a tax efficient way. Please contact us to learn how we can get more money in your pocket than in the government’s.

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Canada Emergency Wage Subsidy expanded to include more businesses!

July 17, 2020Blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateRosetta Springer

On July 17th, Finance Minister Bill Morneau announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) that will expand the number of businesses that qualify for the program.

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Canada Emergency Wage Subsidy extended into December!

July 13, 2020Blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateRosetta Springer

On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.

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Recent Posts

  • Federal Budget 2023 Highlights
  • Ontario 2023 Budget Highlights
  • Financial Advice for Business Owners
  • TFSA versus RRSP – What you need to know to make the most of them in 2023
  • 2023 Financial Calendar

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Contact Us

Springer Financial
Rosetta Springer
Financial Advisor

647-993-8236
info@rosettaspringer.com

707 St. Clair Avenue Suite 520
Toronto, Ontario
M6C 4A1

Latest News

  • Federal Budget 2023 Highlights
  • Ontario 2023 Budget Highlights
  • Financial Advice for Business Owners
  • TFSA versus RRSP – What you need to know to make the most of them in 2023
  • 2023 Financial Calendar

About

Clients are always surprised at the simplicity of my financial solutions. In my experience, the real challenge lies in seeing the big picture and analyzing all the working parts. By delivering an approachable plan, I help my clients clarify the path to their goals. I feel lucky to do this work; I get to help people from all walks of life that are doing well in the world.

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