Read more about the article What Should I Do with My Tax Refund?

What Should I Do with My Tax Refund?

This time of year, I find that one of the most common questions my clients pose is what they should do with their tax refunds. With so many tempting options like finally taking that long-awaited vacation or taking on some home renovations that are long overdue, it may be difficult to stick to focusing on your long-term financial goals. So, given the push/pull of the economy and your well-deserved desire to enjoy the tax refund windfall today, how can you achieve some balance? And what’s the best way to use your tax refund to keep you on-track for the future? A few tips from the Globe and Mail’s article echo some of the advice you may have read here at Lowrie Financial’s blog in “What to Do with Excess Cash?”. These tax refund tips might be helpful to assist you in achieving that balance:

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Read more about the article Financial Planning for Business Owners: Tax Planning Strategies for Personal and Small Business Investments

Financial Planning for Business Owners: Tax Planning Strategies for Personal and Small Business Investments

Tax-efficient investing for corporate and taxable assets - how to keep more of the investment income you earn. There are plenty of perks to being your own boss, including the ability to build up tangible assets to invest in your personal portfolio, your corporate accounts, or both. But if you are a small- to mid-sized Canada-controlled private corporation (CCPC) owner, how do you know if you’re managing your personal and corporation investments as tax-efficiently as possible? Let’s take a look at that today.

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Read more about the article Small Business Tax Planning: How Revised Corporate Passive Income Rules Impact Your Corporate Tax Planning

Small Business Tax Planning: How Revised Corporate Passive Income Rules Impact Your Corporate Tax Planning

Proactive business owners can manage corporate investments and income for optimal tax efficiency. As a small business owner, you no doubt have active interests in your bottom line. That’s why it’s worth knowing about some recent changes to the tax treatments on corporate passive income.

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Read more about the article Thinking of Selling Your Business? Keep the Most Money and Minimize Taxes

Thinking of Selling Your Business? Keep the Most Money and Minimize Taxes

You worked hard to build your business and the corporate assets that it has accumulated. If you plan to sell your business, even if it is 10 years from now, start working now to build a team of experts. You can better protect your financial interests and ensure you leverage all possible corporate financial avenues and tax strategies to retain your business’ value and support your (and your family’s) short-term and long-term financial goals.

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