Tax Planning For Business Owners
The ownership structure of your business can impact much of your planning. A small business corporation provides an opportunity to reduce tax on current earnings, use one or more capital gains exemptions, and a level of creditor protection. It is important to see how the proper structure will ensure you can take advantage of these tax planning concepts that meet you and your family’s unique needs.
Corporate Structures
Operating your business via a corporation provides more planning opportunities than a proprietorship or a partnership:
- Use of Small Business Tax Rates
- Salary Vs. Dividend compensation flexibility
- Lowering Cost of Insurance
- Holding company for creditor protection
- Holding company as alternative to RRSPs
- Multiple Capital Gains Exemptions
- Family Trust
