Ross Macfarlane Financial Blog

Life insurance has long been used as a financial and estate planning tool for business owners. Whether it's help to cover a tax liability at death, to ensure adequate funding for a shareholders' agreement, or to put a capitalization program in place for a shareholder's policy, a life insurance policy will often be purchased by a corporation or a group of corporations, or even a trust.

Estate planning is an emotional task with major financial consequences – it can feel overwhelming at times. On the bright side, you have many helpful tools at your disposal. For example, have you considered estate planning with life insurance?

After months of public consultation, speculation and concern, the rules regarding Passive Investment Income have finally been unveiled. In today’s 2018 Federal Budget release the government announced that passive investment income over a certain limit will now reduce a Canadian-controlled private corporation’s (CCPC) small business deduction.

As a small business owner, you work dramatically longer hours than most and tend to take less vacation time. As such, a twisted ankle or some back pain is not a serious enough situation for you to be off work.

Life insurance solutions available for corporate business owners are fundamental to protecting your family, business interest and continuity. Business owners have the option of owning life insurance policies personally or inside of their corporation.

Most of us are aware that life insurance can be used by individuals to cover debts, funeral expenses and provide financial cushion to family after death. You may have even considered owning personal life insurance to fund the income tax bill resulting from the deemed disposition of your private company shares on your death. But did you know that life insurance can also be purchased and used by your corporation for a variety of issues that may arise upon your death? It can be used to pay off corp

As tax season rolls around, you may be wondering where life insurance fits into the picture. Do you need to report your life insurance policy on your tax return? How will taxes affect your life insurance policy in the future?

While sometimes it can be advantageous to pass certain assets straight to your beneficiaries, probate is not necessarily the problem that some publications make it out to be. Here is what you need to know about probate.

Do we have your attention? Let’s explore one of the most important types of insurance business owners need, critical illness insurance. When you’re a business owner, there are several financial planning strategies you can use to maximize your income and lower your taxes. Corporate-owned insurance policies are one of these key strategies.