Golfing with your friends. Dinner with your family. Enjoying your life.

Wouldn’t you rather be doing these instead of spending hours planning your finances?

Crafted Financial Advice for Incorporated Professionals

Financial advice for incorporated professionals is often two-sided- advice for the practice and personal financial advice.  A few things to keep in mind for professionals are:

  • Professionals are typically in the highest income tax bracket, therefore incorporating their practice can help manage and defer taxes at a lower corporate tax rate.
  • By incorporating- professionals can have access to dividends from their corporation, shareholder loans, corporately held life insurance and since money can be left inside a corporation- this money can be used in years where there are life changes such as pregnancy, buying a home or retirement.
  • Professionals should also ensure that they have access to health benefits.
  • Debt for a professional is not unusual, given the costs of education and equipment, therefore working with us and an accountant can help an incorporated professional find a way to balance their cash flow.

For an incorporated professional, personal and practice finances are connected. Therefore it is essential that both sides should are addressed so you can achieve financial security.



Investment Planning for Incorporated Professionals

For incorporated professionals, preparing for retirement can be challenging. One of the challenges is not having a plan in place.  

Essential considerations when planning for retirement should include:

  • Personal Income Sources including Registered Retirement Savings Plan, Tax Free Savings Account, non-registered investments, Company Pension Plan
  • Government Benefits including Canada Pension Plan, Old Age Security
  • Income Needs- determine how much you need in retirement
  • Debts- if you have any and how to pay it off
  • Health, Critical Illness and Long Term Care Insurance
  • Your Assets

Book a meeting today so you can gain peace of mind that your retirement dreams can be achieved.



Insurance Planning for Incorporated Professionals

For incorporated professionals, making sure your practice is financially protected can be overwhelming. Incorporated professionals face a unique set of challenges when it comes to managing risk. Insurance can play an important role when it comes to reducing the financial impact on your practice in the case of uncontrollable events such as disability, or critical illness.

Areas of insurance:
  • Health
  • Disability
  • Critical Illness
  • Life
  • Group Health Benefits
  • Business Overhead Expense
  • Key Person
  • Buy-Sell
  • Succession

Insurance can also be utilized for tax sheltering and investment purposes.



Download the guide for Incorporated Professionals!

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