Financial planning for business owners is often two-sided: personal financial planning and planning for the business.
Business owners have access to a lot of financial tools that employees don’t have access to; this is a great advantage, however it can be overwhelming too. A financial plan can relieve this.
A financial plan looks at where you are today and where you want to go. It determines your short, medium and long term financial goals and how you can reach them. For you, personally and for your business.
https://horizonfinancial.ca/wp-content/uploads/2021/07/financialPlanningBO.png5121024Horizon Financialhttps://horizonfinancial.ca/wp-content/uploads/2019/12/horizonEnfold2.jpgHorizon Financial2021-07-04 19:45:042021-07-06 11:38:20Financial Planning for Business Owners
An estate freeze can be an integral part of your estate planning strategy. The purpose of an estate freeze is to transfer any future increase in your business’s value (generally shares) that you own to someone else.
While it’s great to have group coverage from your employer or association, in most cases, people don’t understand the that there are important differences when it comes to group life insurance vs. self owned life insurance.
https://horizonfinancial.ca/wp-content/uploads/2021/05/groupLifevsIndividualInsurancefeaturedImage.jpg8101440Horizon Financialhttps://horizonfinancial.ca/wp-content/uploads/2019/12/horizonEnfold2.jpgHorizon Financial2021-05-04 16:32:002021-05-04 16:48:05Group Insurance vs Individual Life Insurance
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.
Tax season is upon us once again. But since 2020 was a year like no other, the 2021 tax-filing season will also be different. Due to all the changes in both where and how Canadians worked, the Canadian government has introduced some new tax credits and deductions to keep pace with these changes. Our article covers all of the following:
• How to claim home office expenses
• The new Canada Training Credit
• Pandemic emergency funds
• New digital news subscription tax credit
https://horizonfinancial.ca/wp-content/uploads/2021/04/Whats-new-for-the-2021-tax-filing-season_.jpg281500Horizon Financialhttps://horizonfinancial.ca/wp-content/uploads/2019/12/horizonEnfold2.jpgHorizon Financial2021-04-02 06:00:002021-04-02 06:24:16What’s new for the 2021 tax-filing season?
Financial Planning for Business Owners
/in Blog, Business Owners, corporate, Financial Planning /by Horizon FinancialFinancial planning for business owners is often two-sided: personal financial planning and planning for the business.
Business owners have access to a lot of financial tools that employees don’t have access to; this is a great advantage, however it can be overwhelming too. A financial plan can relieve this.
A financial plan looks at where you are today and where you want to go. It determines your short, medium and long term financial goals and how you can reach them. For you, personally and for your business.
Estate Freeze
/in Blog, Estate Planning, tax /by Horizon FinancialAn estate freeze can be an integral part of your estate planning strategy. The purpose of an estate freeze is to transfer any future increase in your business’s value (generally shares) that you own to someone else.
Group Insurance vs Individual Life Insurance
/in Blog, Group Benefits, life insurance /by Horizon FinancialWhile it’s great to have group coverage from your employer or association, in most cases, people don’t understand the that there are important differences when it comes to group life insurance vs. self owned life insurance.
Federal Budget 2021 Highlights
/in 2021, Blog, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, corporate, Debt, Family, financial advice, Financial Planning, incorporated professionals, individuals, personal finances, Professional Corporations, tax /by Horizon FinancialOn 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.
What’s new for the 2021 tax-filing season?
/in 2021, Blog, tax /by Horizon FinancialTax season is upon us once again. But since 2020 was a year like no other, the 2021 tax-filing season will also be different. Due to all the changes in both where and how Canadians worked, the Canadian government has introduced some new tax credits and deductions to keep pace with these changes. Our article covers all of the following:
• How to claim home office expenses
• The new Canada Training Credit
• Pandemic emergency funds
• New digital news subscription tax credit