Agile WM – Financial Planning



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Corporate Planning

Planning for your Business or Professional Corporation

      Running a business is not easy! You have a lot to consider and of course on top of that you must run your underlying business. Along with this, there are several planning and structural changes that we can consider. You can focus on running your business or practice and I can help you make that more tax efficient and help you save for your future. While I cannot explain the full mechanics and how it could apply to you directly below, here are a few considerations:

Use your business to pay for a pension plan for the employee(s), AKA, you! Sometimes when you run your own corporation, you can look longingly at the pension plans that companies offer their employees and think it would be great to have this for yourself. Well, we can set that up for you! This is an incredibly attractive possibility for you because the corporation gets the tax advantage, and the savings are for you individually. There is also the potential here to have the savings exceed what is allowable in your RRSP.

One of the issues facing business-owners and those who are eligible to have Professional Corporations, is the tax on passive income. This tax can be avoided by investing within an insurance policy, which is of significant benefit. There are also estate planning and business transfer planning options that we can implement here, assuming this is sensible in your situation (it is not for everyone).

Having cash in your business and investing this can be taxed heavily to say the least. In Alberta, in 2019, that tax exceeds 50%, and there are other problems that arise from this as well. That said, I have a strategy that we can implement that allows you to invest through your corporation and not receive a tax distribution or tax slip. That means the tax is deferred, which is an enormous benefit for your business!


We are licensed through Manulife Financial for our insurance practice, however we offer solutions through most of the large well-known insurers in Canada. Because we are independent, the important thing is getting the right coverage in place. Not the specific company that we use to do that.
We also use insurance for a variety of financial planning applications. Whether you are a business owner or an employee and regardless of the type of coverage that makes sense for you, we can work with you in a professional and practical manner to get the coverage in place.
  • Working with business owners to determine both effective coverage and financially advantageous strategies.
  • Working with professionals to determine proper coverage that offers both security and is cost-effective.
  • Implementing coverage for people who have health concerns and potential health issues.

Financial Planning

How much should you be saving? Will you have enough to support your lifestyle during retirement? Will you outlive your savings? These are all critical questions on the mind of most pre-retirees. I can work through these questions with you and provide concrete answers and strategies to deall with these factors.

No one wants to pay more tax than they should be! Sometimes in the accumulation stage you have options to reduce your tax burden. Whether it’s asset location or how things are structured, I can help solve that c concern. In the stage of life where you’re drawing an income, some tax planning goes a long way to make sure that you not only have the taxes minimized, but thereby qualify to receive fuller government benefits.
There is much more to estate planning than simply buying an insurance policy or having a will. For many of our clients they have business interests, sometimes international corporations which can complicate their estate plan. Along with these factors that increase complexity, there is often a desire for a legacy. These are personal decisions and choices and as a result estate plans are varied in their focus.

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