https://lssmith.ca/wp-content/uploads/2022/08/Dont-lose-all-your-hard-earned-money-to-taxes.png 300 500 LS Smith & Associates https://lssmith.ca/wp-content/uploads/2018/05/lsSmithLogo.jpg LS Smith & Associates2022-08-01 06:35:012022-08-01 06:35:11Don’t lose all your hard-earned money to taxes
It’s essential to manage your tax planning properly – both while you are living and for after your death. You want as much of your money as possible to go to your beneficiaries, not the government. Our article contains three tips to help you do that: 1. Learn how to make the most of the lifetime capital gains exemption. 2. Figure out ways to decrease your end-of-life tax bill. 3. Look into Immediate Financing Arrangements.
https://lssmith.ca/wp-content/uploads/2022/07/5-ways-to-withdraw-money-from-your-business.png 300 500 LS Smith & Associates https://lssmith.ca/wp-content/uploads/2018/05/lsSmithLogo.jpg LS Smith & Associates2022-07-06 14:47:512022-07-06 14:48:07Five Ways To Withdraw Money From Your Business In A Tax-Efficient Manner
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.
https://lssmith.ca/wp-content/uploads/2022/06/ESTATE-FREEZE-2.jpeg 281 500 L.S. Smith and Associates https://lssmith.ca/wp-content/uploads/2018/05/lsSmithLogo.jpg L.S. Smith and Associates2022-06-03 11:40:192022-06-03 11:40:19Estate Freeze
No business owner likes to think about handing over the business they've built from the ground up. But the fact of the matter is, you will have to do it eventually. Even more concerning, what if you were to become ill or incapacitated? Making a decision of this magnitude during trying times would not be ideal. For the business owner, an estate freeze can be an integral part of your estate planning strategy. The purpose of an estate freeze is to lock-in (freeze) the value of the business, freeing the successor from the tax liability that may arise should the business' value increase.
https://lssmith.ca/wp-content/uploads/2022/05/Permanent-vs-Term-1.png 281 500 L.S. Smith and Associates https://lssmith.ca/wp-content/uploads/2018/05/lsSmithLogo.jpg L.S. Smith and Associates2022-05-04 13:33:162022-05-04 13:37:42Permanent versus Term Life Insurance – What are the Differences?
You know you need life insurance – but you’re not sure which kind is best for you. There are two main kinds of life insurance: • Permanent, which lasts for your entire life. Premiums can be more expensive, but you can also use the policy to build up cash value. • Term, which is only good for a set amount of time. Premiums are less expensive, and you cannot build up cash value – but coverage is easy to get and understand. We can help you determine which type of insurance is best for you and how much it will cost you.