Podcasts

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Transferring a rental property from a corporation to a child may seem straightforward, but there can be important tax considerations along the way. Property appreciation, prior deductions claimed by the corporation, and the transfer of assets out of a corporation can all have tax implications. Understanding the full picture is essential before making decisions about family wealth transfers.

#Three60Wealth #TaxPlanning #WealthManagement #EstatePlanning #FinancialEducation

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If you lend money to your corporation through a shareholder loan, you can generally withdraw those funds tax-free in the future because the money has already been taxed personally. However, shareholder loans are typically unsecured, meaning you may have difficulty recovering the funds if the corporation experiences financial trouble or bankruptcy.

#Three60wealth #CorporateTax #TaxPlanning #BusinessOwners #Entrepreneurship #SmallBusiness #Incorporation #BusinessFinance #TaxTips #CorporateFinance #FinancialPlanning #WealthBuilding #BusinessGrowth

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CRA tax instalments are advance tax payments required when you’ve owed more than $3,000 in tax in recent years, often affecting self-employed, rental, or investment income earners. The CRA bases these payments on past income, which may not match your current year, so the suggested amounts can sometimes be higher or lower than what you actually owe. While you can adjust them, getting it wrong can lead to interest or penalties. If your income changes every year, how do you decide whether to trust CRA’s estimate or rely on your own projection?

#taxtips #CRA #SelfEmployed #PersonalFinance #TaxPlanning

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Business owners can save tax by using a mix of RRSPs, TFSAs, and holding companies. RRSPs force withdrawals later, while TFSAs grow tax-free, and holding companies offer more control. The best strategy is combining all three for tax-efficient retirement income.

#BusinessOwners #TaxStrategy #RRSP #TFSA #WealthPlanning #RetirementPlanning #TaxEfficiency #Investing #PassiveIncome #FinancialPlanning #Three60Wealth

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Most business owners make a critical mistake before meeting with an estate lawyer—they haven’t chosen the right people for key roles in their estate plan. Estate planning isn’t just paperwork; it’s about assigning the right individuals to handle finances, healthcare decisions, and long-term asset management.

Too often, people assign one person to everything or choose based on emotion instead of ability. But these roles require different skills, and the wrong choices can lead to stress, conflict, and costly problems for loved ones later on.

#EstatePlanning #EstateDocuments #BusinessOwners #FinancialPlanning #WealthManagement #SuccessionPlanning #PowerOfAttorney #Three60Wealth #TrustPlanning #FamilyPlanning #FinancialLiteracy

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Most owners think there’s only one way to exit but that’s a costly mistake. This video breaks down three paths and the real trade-offs behind each. The key takeaway? The best exit depends on your goals, your family, and the life you want after. Definitely worth a quick watch before you decide your next move.

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Most business owners wait too long to plan their exit—and it costs them. In the 5 years before you sell, focus on becoming replaceable, setting up the right corporate structure, knowing your exact retirement number, building income for life after the sale, and planning what comes next personally.

If you sold tomorrow, would you truly be ready for what comes next?

#BusinessExit #EntrepreneurLife #SellYourBusiness #ExitStrategy #WealthPlanning #FinancialFreedom #RetirementPlanning

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If you’re in a second marriage and have kids from a previous relationship, this one mistake can completely derail your legacy. Leaving everything outright to your spouse sounds simple but it means you lose control over where that wealth goes next. It could end up going to the wrong people. A spousal trust changes that. It lets you take care of your partner while making sure your assets ultimately go to your children.

Protect your family now or risk losing control later.

#EstatePlanning #SecondMarriage #WealthProtection #SpousalTrust #LegacyPlanning #FinancialAdvice

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