^BlogInsights and News

AI in the Financial Industry: Why Judgment Is Still the Job

If you believe AI can replace your accountant, lawyer, or financial planner, answer this question without asking AI for help.

You own an operating company, a holding company, and a family trust. Excess cash is being paid out as dividends, some earnings are taxed at the small business rate, others at the general rate, and your long-term goal is to fund retirement while eventually selling the business.

What Should You Do with the Money Inside Your Holding Corporation After Retirement?

When it comes to estate planning, ensuring that your children’s inheritance is protected is a crucial consideration. Many parents assume that leaving assets to their children at predetermined ages, such as 25, 30, or 35, is the best approach. However, this traditional method can expose inherited wealth to risks such as lawsuits, divorces, and unintended beneficiaries. A child’s trust offers an alternative that provides long-term security, control, and flexibility for your family’s financial future.

Trusts & Estate Planning: What You Need To Know

Estate planning is essential for families who have built significant wealth, and particular attention needs to be paid when there is a family trust involved. Many assume that trust assets will be handled according to their will, but this is not the case. Understanding the role of trustees, how assets are distributed, and the importance of clear instructions can help ensure your wealth is passed on as intended.

RRSP’s vs Holding Corps: A Tax Trap to Avoid

As a Canadian business owner, one of the most common questions we hear is: “Where should I be investing my money – RRSPs, TFSAs, or inside my holding company?” While RRSPs can be a useful tool, putting too much of your wealth into them may create a costly retirement tax trap.

Planning Your Business Exit

Exiting your business is one of the most significant decisions you will ever face as an entrepreneur. Whether you’re looking to retire, pursue new opportunities, or simply step away from the day-to-day operations, it’s important to carefully evaluate your options. Each path comes with unique advantages and drawbacks, and the right choice will depend on your goals, your financial needs, and your family or employee dynamics.

A Crucial Element For Calgary Business Owners

In the dynamic business landscape of Calgary, strategic financial decisions can make all the difference for entrepreneurs seeking to optimize their profits and minimize tax burdens. At Three60 Wealth, we understand the pivotal role that a well thought-out corporate structure plays in tax planning for business owners. In this article, we explore three key aspects that highlight the benefits of a proactive approach, the strategic use of holding companies and trusts, and the importance of using professional advisors to navigate the intricate tax laws established by the CRA.