{"product_id":"kickstart-your-corporation-isbn-9781119709138","title":"Kickstart Your Corporation","description":"\u003cp\u003e\u003cb\u003eA detailed look at financial planning strategies surrounding professional corporations for doctors, dentists, lawyers, business owners and other Canadian professionals.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIf you're a doctor, a dentist, a lawyer, or a business owner—virtually any type of professional in Canada—you strongly \u003ci\u003eneed\u003c\/i\u003e to consider how incorporating fits into your financial plan.\u003c\/p\u003e \u003cp\u003eA good financial planner should acknowledge they have absolutely no control of the markets. However, taxes are completely controllable, and having a corporation is a powerful tool that allows professionals to control their tax bill. Using a mix of personal observations, real-life examples, and strategy evaluations, this book guides the professional along their path to using their corporation in the most efficient way.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eKickstart Your Corporation: The Incorporated Professional's Financial Planning Coach\u003c\/i\u003e is your practical guide to controlling your tax bill and taking advantage of all that a Professional Corporation has to offer. Drawing upon decades of hands-on experience in wealth management, author Andrew Feindel provides clear and accurate advice on making the incorporation decision, setting up and investing inside your corporation, optimizing your salary and dividend compensation mix, valuing permanent insurance on your corporate balance sheet, using prudent leverage, weighing the pros and cons of active or passive investment management, using alternative strategies like a Capital Gains Strip, Individual Pension Plans and Retirement Compensation Arrangements, and much more. This must-have book:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eProvides Canadian professionals with an accurate and straightforward investment and financial planning guide to incorporation\u003c\/li\u003e \u003cli\u003eCovers the basics of incorporating for the professional and business owner, including a review of the process and the costs to incorporate, and the likely benefits\u003c\/li\u003e \u003cli\u003eAnalyzes the best financial strategy for various situations\u003c\/li\u003e \u003cli\u003eOffers real-world advice on structuring compensation, risk management, borrowing to invest, and the role of trusts in professionals’ financial plans\u003c\/li\u003e \u003cli\u003eWritten by a senior vice president at an independent leading-edge wealth management firm\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eKickstart Your Corporation: The Incorporated Professional's Financial Planning Coach\u003c\/i\u003e is essential reading for any professional who has incorporated and is looking to maximize benefits, and those wanting to incorporate for the first time with expert guidance.\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003eAbout the Author xix\u003c\/p\u003e \u003cp\u003eIntroduction: The Value of a Coach xxi\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: \u003c\/b\u003e\u003cb\u003eIncorporation 101 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Incorporate? 2\u003c\/p\u003e \u003cp\u003eWhat Does It Cost to Incorporate? 2\u003c\/p\u003e \u003cp\u003eWhat’s the Process to Incorporate? 3\u003c\/p\u003e \u003cp\u003eWritten Consent 4\u003c\/p\u003e \u003cp\u003eArticles of Incorporation 4\u003c\/p\u003e \u003cp\u003ePayroll Remittances 4\u003c\/p\u003e \u003cp\u003eEmployment Contracts 5\u003c\/p\u003e \u003cp\u003eTransferring Assets 5\u003c\/p\u003e \u003cp\u003eReal Estate 6\u003c\/p\u003e \u003cp\u003eInsurance Policies 6\u003c\/p\u003e \u003cp\u003eChoosing Your Corporation’s Year-End and Maintaining Your Corporate Records 7\u003c\/p\u003e \u003cp\u003eWhen Does It Not Make Sense to Incorporate? 8\u003c\/p\u003e \u003cp\u003eWhat If You Have No Small Business Deduction? 10\u003c\/p\u003e \u003cp\u003eHow Does Purchasing a Home Fit into My Incorporation Timeline? 11\u003c\/p\u003e \u003cp\u003eSaving for a Down Payment: Incorporated and Non-Incorporated Options 11\u003c\/p\u003e \u003cp\u003eCan I Purchase My Principal Residence through My Corporation? 12\u003c\/p\u003e \u003cp\u003eWhat about Shareholder Loans? 14\u003c\/p\u003e \u003cp\u003eDoes a Professional Corporation Give Me Creditor Protection? 15\u003c\/p\u003e \u003cp\u003eHow Could I “Supercharge” My Charitable Donation? 16\u003c\/p\u003e \u003cp\u003eWhat is the Lifetime Capital Gains Exemption (LCGE)? 17\u003c\/p\u003e \u003cp\u003eNow That I Have Incorporated, Can I Deduct My Golf Membership Fees? 20\u003c\/p\u003e \u003cp\u003eWhat Do I Do with My Corporation When I Retire? 20\u003c\/p\u003e \u003cp\u003eReal-Life Case Example of Restructuring Shares 21\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: \u003c\/b\u003e\u003cb\u003eThe Compensation Decision: Salary or Dividends? 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding the Roots of the Compensation Question 26\u003c\/p\u003e \u003cp\u003eSalary as Compensation 27\u003c\/p\u003e \u003cp\u003eDividends as Compensation 27\u003c\/p\u003e \u003cp\u003eDividend-Splitting with Family Members 28\u003c\/p\u003e \u003cp\u003eThe Old Rules: Pre-2018 28\u003c\/p\u003e \u003cp\u003eThe New Rules: Tax on Split Income—2019 and Afterwards 29\u003c\/p\u003e \u003cp\u003eTax Integration 33\u003c\/p\u003e \u003cp\u003eSalary versus Dividend Examples 33\u003c\/p\u003e \u003cp\u003eDo You Want to Put Your Savings in an RRSP or in Your Corporation? 35\u003c\/p\u003e \u003cp\u003eThe Value in the RRSP\/Corporation Today 36\u003c\/p\u003e \u003cp\u003eThe Tax Characteristics of Growth on the Investments 37\u003c\/p\u003e \u003cp\u003eWill We Pass Away with Funds in Our RRSP or Corporation? 40\u003c\/p\u003e \u003cp\u003eOther Factors 41\u003c\/p\u003e \u003cp\u003eIncreased Financial Control 41\u003c\/p\u003e \u003cp\u003ePsychological Factors 41\u003c\/p\u003e \u003cp\u003eCreditor Protection 42\u003c\/p\u003e \u003cp\u003eFuture Tax Law Changes 42\u003c\/p\u003e \u003cp\u003eDo We Want to Participate in the Canadian Pension Plan (CPP)? 42\u003c\/p\u003e \u003cp\u003eBeware the Overpayment Trap 44\u003c\/p\u003e \u003cp\u003eCPP Trends to Watch 44\u003c\/p\u003e \u003cp\u003eBottom-Line Considerations 45\u003c\/p\u003e \u003cp\u003eDo We Have Investments Inside the Corporation? 45\u003c\/p\u003e \u003cp\u003eWhat Are Some Exceptions to these Rules? 46\u003c\/p\u003e \u003cp\u003eSmall Business Deduction (SBD) 46\u003c\/p\u003e \u003cp\u003eChild Care Deduction 47\u003c\/p\u003e \u003cp\u003eSR\u0026amp;ED 47\u003c\/p\u003e \u003cp\u003eOther Specific Considerations 47\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: \u003c\/b\u003e\u003cb\u003eInvesting Inside Your Corporation 51\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCan I Invest through My Corporation? 52\u003c\/p\u003e \u003cp\u003eWhat the Income Tax Act Says about Investing through a Corporation 52\u003c\/p\u003e \u003cp\u003eStructuring Investments Inside the Corporation 53\u003c\/p\u003e \u003cp\u003eExample 54\u003c\/p\u003e \u003cp\u003eRDTOH (Refundable Dividend Tax On Hand) 55\u003c\/p\u003e \u003cp\u003eCapital Dividend Account (CDA) 55\u003c\/p\u003e \u003cp\u003eExample 56\u003c\/p\u003e \u003cp\u003eNew Passive Income Tax Rules 57\u003c\/p\u003e \u003cp\u003eReminder: Asset Allocation Still Matters 58\u003c\/p\u003e \u003cp\u003eWhat Are Corporate-Class Investments? 60\u003c\/p\u003e \u003cp\u003eThe Power of Tax-Deferred Compounding 62\u003c\/p\u003e \u003cp\u003eWorking through the Example 63\u003c\/p\u003e \u003cp\u003eWorking through the Example 65\u003c\/p\u003e \u003cp\u003eRule Changes from Federal Budget 2016 66\u003c\/p\u003e \u003cp\u003eConsiderations with Corporate Class 67\u003c\/p\u003e \u003cp\u003eFees 67\u003c\/p\u003e \u003cp\u003eLoss of Control 68\u003c\/p\u003e \u003cp\u003eLittle Fixed Income Exposure 69\u003c\/p\u003e \u003cp\u003eFuture Potential Rule Changes 70\u003c\/p\u003e \u003cp\u003eWhat If I Want to Try Investing on My Own? 70\u003c\/p\u003e \u003cp\u003eWhat If They Increase Capital Gains Taxes? 70\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: \u003c\/b\u003e\u003cb\u003eValuing Permanent Insurance on the Holistic Corporate Balance Sheet 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Review of the Basics—Permanent Life Insurance as Tax Arbitrage 74\u003c\/p\u003e \u003cp\u003eThe Benefits of Corporate-Owned Permanent Life Insurance 75\u003c\/p\u003e \u003cp\u003ePay Premiums with Corporate Dollars 75\u003c\/p\u003e \u003cp\u003eAvoid New Passive Income Rules 76\u003c\/p\u003e \u003cp\u003eCreating Cash Flow 76\u003c\/p\u003e \u003cp\u003eProvide a Tax-Efficient Financial Legacy 77\u003c\/p\u003e \u003cp\u003eA Real-World Example: My Plan in Action 78\u003c\/p\u003e \u003cp\u003eFunding the Plan 78\u003c\/p\u003e \u003cp\u003eThe Growth of Funds in the Plan 79\u003c\/p\u003e \u003cp\u003eAssumptions in the Projections 79\u003c\/p\u003e \u003cp\u003eRates of Return Assumptions 80\u003c\/p\u003e \u003cp\u003eBeyond the First 10 Years 81\u003c\/p\u003e \u003cp\u003eThe Plan as an Investment 81\u003c\/p\u003e \u003cp\u003eUnderstanding the Criticisms of Corporate-Held Permanent Life Insurance 83\u003c\/p\u003e \u003cp\u003eRisk Review: Economic and Tax Considerations 83\u003c\/p\u003e \u003cp\u003eTax Policy Risk: “What if tax rates change?” 83\u003c\/p\u003e \u003cp\u003eEconomic Risk: “What if dividend rates or interest rates change?” 84\u003c\/p\u003e \u003cp\u003eAppropriateness Review: Concerns about the Sales Process 85\u003c\/p\u003e \u003cp\u003e“This strategy is designed to maximize advisor sales commissions—if it’s so good, why do so many people oppose it?” 85\u003c\/p\u003e \u003cp\u003e“Shouldn’t I help my kids today, instead of building an estate?” 86\u003c\/p\u003e \u003cp\u003eThis strategy is “an expensive way to buy insurance, and I can get\u003c\/p\u003e \u003cp\u003ehigher investment returns elsewhere”—shouldn’t I just “buy term and invest the difference?” 86\u003c\/p\u003e \u003cp\u003eThe True Cost of Term Insurance 86\u003c\/p\u003e \u003cp\u003eBuying Term and Investing the Difference: A Review of the Facts\u003c\/p\u003e \u003cp\u003eand Assumptions 87\u003c\/p\u003e \u003cp\u003e“What if something changes and I can’t afford the premiums?” 89\u003c\/p\u003e \u003cp\u003eComparing U.S. and Canadian Scenarios 89\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: \u003c\/b\u003e\u003cb\u003eRisk Management 93\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Careful Examination 93\u003c\/p\u003e \u003cp\u003eThe Way We Think About Insurance 94\u003c\/p\u003e \u003cp\u003eWealth Insurance 95\u003c\/p\u003e \u003cp\u003eWealth Insurance on Parents 95\u003c\/p\u003e \u003cp\u003eWhen You Pay the Premiums 95\u003c\/p\u003e \u003cp\u003eExample 96\u003c\/p\u003e \u003cp\u003eWhen an Estate Bond Pays the Premiums 98\u003c\/p\u003e \u003cp\u003eExample 99\u003c\/p\u003e \u003cp\u003eRisk Insurance (Life and Disability Insurance) 100\u003c\/p\u003e \u003cp\u003eRisk Insurance 100\u003c\/p\u003e \u003cp\u003eExample 100\u003c\/p\u003e \u003cp\u003eLife Insurance 101\u003c\/p\u003e \u003cp\u003eHow much life insurance do we need? 101\u003c\/p\u003e \u003cp\u003eExample 102\u003c\/p\u003e \u003cp\u003eAssociation Plan or Individual Plan Life Insurance? 103\u003c\/p\u003e \u003cp\u003eDisability Insurance 105\u003c\/p\u003e \u003cp\u003eDisability Insurance: Do We Need the Ferrari Disability Package? 106\u003c\/p\u003e \u003cp\u003eThe Good Insurance Rider 106\u003c\/p\u003e \u003cp\u003eThe Situational\/Dynamic Insurance Riders 107\u003c\/p\u003e \u003cp\u003eThe Don’t Always Recommend Riders 108\u003c\/p\u003e \u003cp\u003eExample 109\u003c\/p\u003e \u003cp\u003eOther Common Questions 109\u003c\/p\u003e \u003cp\u003eShould we own insurance corporately? 109\u003c\/p\u003e \u003cp\u003eI’m young and invincible; should I have disability insurance? 110\u003c\/p\u003e \u003cp\u003eShould I get a lump-sum payout instead? 110\u003c\/p\u003e \u003cp\u003eCritical Illness Insurance 110\u003c\/p\u003e \u003cp\u003eLong-Term Care Insurance 112\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: \u003c\/b\u003e\u003cb\u003eBorrowing to Invest 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat is Leverage? 115\u003c\/p\u003e \u003cp\u003eWho Are Good Candidates for Using Leverage? 119\u003c\/p\u003e \u003cp\u003eEnhancing Returns in the Corporation with Leverage 119\u003c\/p\u003e \u003cp\u003eStrategic Prudent Leverage: Timing 123\u003c\/p\u003e \u003cp\u003eSome Basic Assumptions 123\u003c\/p\u003e \u003cp\u003eBuilding a Non-Registered Portfolio 124\u003c\/p\u003e \u003cp\u003eExample 125\u003c\/p\u003e \u003cp\u003eMigrating Efficiently to a Non-Registered Portfolio 126\u003c\/p\u003e \u003cp\u003eWithdrawing from the RRSP with the Use of an Offsetting Deduction 127\u003c\/p\u003e \u003cp\u003eMake Your Mortgage Interest Tax-Deductible 128\u003c\/p\u003e \u003cp\u003eDebt Swap Scenario 1: Making Your Mortgage Interest Tax-Deductible 128\u003c\/p\u003e \u003cp\u003eExample 129\u003c\/p\u003e \u003cp\u003eDebt Swap Scenario 2: Parents Helping Kids HelpThemselves 129\u003c\/p\u003e \u003cp\u003eExample 130\u003c\/p\u003e \u003cp\u003eInvestments That Use Leverage 132\u003c\/p\u003e \u003cp\u003eLeveraged and Inverse ETFs 132\u003c\/p\u003e \u003cp\u003eExample 132\u003c\/p\u003e \u003cp\u003eRisk Parity Funds 133\u003c\/p\u003e \u003cp\u003eWhen Does Leveraging Go Bad? 134\u003c\/p\u003e \u003cp\u003eSome Built-In Conflicts of Interest 134\u003c\/p\u003e \u003cp\u003eExamples 134\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: \u003c\/b\u003e\u003cb\u003eInvesting: Active or Passive? 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat is Active Investing and What is Passive Investing? 140\u003c\/p\u003e \u003cp\u003eUnderstanding Investment Trends 141\u003c\/p\u003e \u003cp\u003eA Deep Dive into Passive Management 142\u003c\/p\u003e \u003cp\u003eFees—Passive Management 142\u003c\/p\u003e \u003cp\u003eThe Impact of Fees 143\u003c\/p\u003e \u003cp\u003ePerformance 144\u003c\/p\u003e \u003cp\u003eWhat about Outside Canada? 148\u003c\/p\u003e \u003cp\u003eDiving into Active Management 149\u003c\/p\u003e \u003cp\u003eThe Behavioral Gap 149\u003c\/p\u003e \u003cp\u003eBetter Risk Management 150\u003c\/p\u003e \u003cp\u003eFees—Active Management 150\u003c\/p\u003e \u003cp\u003eFlexibility to Manage After-Tax Returns 151\u003c\/p\u003e \u003cp\u003eAllowing Pursuit of Expressive Objectives 151\u003c\/p\u003e \u003cp\u003eMarket Return Does Not Equal Average Investor Return 151\u003c\/p\u003e \u003cp\u003ePerformance 152\u003c\/p\u003e \u003cp\u003eIs Your Fund “Truly Active”? 152\u003c\/p\u003e \u003cp\u003eThe Growth of Passive Investments May Sow the Seeds of Their Underperformance 153\u003c\/p\u003e \u003cp\u003eAccess to IPOs May Become More of a Differentiating Factor 153\u003c\/p\u003e \u003cp\u003eWrapping Up the Debate 154\u003c\/p\u003e \u003cp\u003eFees 154\u003c\/p\u003e \u003cp\u003ePerformance 155\u003c\/p\u003e \u003cp\u003eBehavior 157\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: \u003c\/b\u003e\u003cb\u003eThe Role of Trusts in Your Financial Plan 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSpeaking the Language of Trusts 164\u003c\/p\u003e \u003cp\u003eTrust Concepts 165\u003c\/p\u003e \u003cp\u003eResidency of Trusts 165\u003c\/p\u003e \u003cp\u003eTaxation of Trusts 165\u003c\/p\u003e \u003cp\u003eThe 21-Year Rule 166\u003c\/p\u003e \u003cp\u003eProbate 167\u003c\/p\u003e \u003cp\u003ePrivacy 167\u003c\/p\u003e \u003cp\u003eInter Vivos Trusts 167\u003c\/p\u003e \u003cp\u003eExample 169\u003c\/p\u003e \u003cp\u003eExample 169\u003c\/p\u003e \u003cp\u003eDiscretionary Investment Trust for Grandchildren 170\u003c\/p\u003e \u003cp\u003eExample 171\u003c\/p\u003e \u003cp\u003eBearer Trusts 171\u003c\/p\u003e \u003cp\u003eInter Vivos Cottage Trust 172\u003c\/p\u003e \u003cp\u003eTestamentary Trusts 173\u003c\/p\u003e \u003cp\u003eEstablishment of Testamentary Trusts 173\u003c\/p\u003e \u003cp\u003eAsset Protection 173\u003c\/p\u003e \u003cp\u003eTax Savings 174\u003c\/p\u003e \u003cp\u003eOther Factors to Consider 177\u003c\/p\u003e \u003cp\u003eProbate 177\u003c\/p\u003e \u003cp\u003eCosts 177\u003c\/p\u003e \u003cp\u003eMinor Children 178\u003c\/p\u003e \u003cp\u003eFor Family Members with Special Needs 179\u003c\/p\u003e \u003cp\u003eSpousal Trust 179\u003c\/p\u003e \u003cp\u003eUse of Spousal Trust 180\u003c\/p\u003e \u003cp\u003eWhen a Testamentary Trust Loses Its Status 181\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: \u003c\/b\u003e\u003cb\u003eAlternative Investment Strategies 183\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapital Gains Strip 184\u003c\/p\u003e \u003cp\u003eSuitability for Capital Gains Strip 186\u003c\/p\u003e \u003cp\u003eOverall Bottom Line 187\u003c\/p\u003e \u003cp\u003eIndividual Pension Plans (IPP and PPP) 188\u003c\/p\u003e \u003cp\u003eWhy an IPP? 188\u003c\/p\u003e \u003cp\u003eConsiderations 190\u003c\/p\u003e \u003cp\u003eSuitability 191\u003c\/p\u003e \u003cp\u003eNext Steps 191\u003c\/p\u003e \u003cp\u003eWhat’s the Difference between an IPP and a PPP? 192\u003c\/p\u003e \u003cp\u003eOverall Bottom Line 193\u003c\/p\u003e \u003cp\u003eRetirement Compensation Arrangements 194\u003c\/p\u003e \u003cp\u003eSteps to Implement an RCA 195\u003c\/p\u003e \u003cp\u003eAdvantages of the RCA 195\u003c\/p\u003e \u003cp\u003eDisadvantages of the RCA 197\u003c\/p\u003e \u003cp\u003eInvestment Account 197\u003c\/p\u003e \u003cp\u003eWithdrawals 198\u003c\/p\u003e \u003cp\u003eOverall Bottom Line 198\u003c\/p\u003e \u003cp\u003eInvesting in Watches: Can I Buy My Rolex through the Corporation? 198\u003c\/p\u003e \u003cp\u003eOverall Bottom Line 200\u003c\/p\u003e \u003cp\u003eArt: Can I Buy My Pablo Picasso Painting through the Corporation? 200\u003c\/p\u003e \u003cp\u003eBuying Art 200\u003c\/p\u003e \u003cp\u003eTransferring Art 200\u003c\/p\u003e \u003cp\u003eSelling\/Donating Art 201\u003c\/p\u003e \u003cp\u003eOverall Bottom Line 203\u003c\/p\u003e \u003cp\u003ePrivate Health Services Plans 203\u003c\/p\u003e \u003cp\u003eHealth Spending Accounts 204\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: \u003c\/b\u003e\u003cb\u003ePulling It All Together: Your Financial Plan 209\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Value of a Financial Plan 213\u003c\/p\u003e \u003cp\u003eExample 214\u003c\/p\u003e \u003cp\u003ePlan Analysis Synopsis 215\u003c\/p\u003e \u003cp\u003eClient Information 215\u003c\/p\u003e \u003cp\u003eFamily Member Information 215\u003c\/p\u003e \u003cp\u003eAdvisor Information 215\u003c\/p\u003e \u003cp\u003ePlan Assumptions 215\u003c\/p\u003e \u003cp\u003eEstate Assumptions 216\u003c\/p\u003e \u003cp\u003eIncome Information 216\u003c\/p\u003e \u003cp\u003eCPP\/QPP \u0026amp; OAS Information 216\u003c\/p\u003e \u003cp\u003eExpense Information 217\u003c\/p\u003e \u003cp\u003eRegular Expenses 217\u003c\/p\u003e \u003cp\u003eLump-Sum Expenses 217\u003c\/p\u003e \u003cp\u003eInsurance Scenario Lump-Sum Expenses 218\u003c\/p\u003e \u003cp\u003eLifestyle Asset Information 218\u003c\/p\u003e \u003cp\u003ePortfolio Assets 218\u003c\/p\u003e \u003cp\u003eLiabilities 219\u003c\/p\u003e \u003cp\u003eLife Insurance Policies 220\u003c\/p\u003e \u003cp\u003eDisability Insurance Policies 220\u003c\/p\u003e \u003cp\u003eCritical Illness Insurance Policies 220\u003c\/p\u003e \u003cp\u003eEducation Goals 220\u003c\/p\u003e \u003cp\u003eSavings Strategies 221\u003c\/p\u003e \u003cp\u003eSurplus Savings Strategies 221\u003c\/p\u003e \u003cp\u003eRRSP Maximizer Savings Strategies 222\u003c\/p\u003e \u003cp\u003eTransfer Strategies 222\u003c\/p\u003e \u003cp\u003eDeficit Coverage Order During Pre-Retirement 222\u003c\/p\u003e \u003cp\u003eLiquidation Order During Retirement 223\u003c\/p\u003e \u003cp\u003ePrivate Corporation Synopsis 223\u003c\/p\u003e \u003cp\u003eDr. Michael Jones Corp.—Current Plan 223\u003c\/p\u003e \u003cp\u003eSummary 223\u003c\/p\u003e \u003cp\u003eShare Ownership 224\u003c\/p\u003e \u003cp\u003ePreferred Ownership 224\u003c\/p\u003e \u003cp\u003eHistorical Data 224\u003c\/p\u003e \u003cp\u003eInvestment Accounts 225\u003c\/p\u003e \u003cp\u003eReal Estate Assets 225\u003c\/p\u003e \u003cp\u003eContributions—Inter-Company Dividends Received 225\u003c\/p\u003e \u003cp\u003eWithdrawals—Manual Dividend Distributions 225\u003c\/p\u003e \u003cp\u003eEstate 225\u003c\/p\u003e \u003cp\u003eNet Worth Statement 227\u003c\/p\u003e \u003cp\u003eCurrent Plan 227\u003c\/p\u003e \u003cp\u003eNet Worth Timeline 227\u003c\/p\u003e \u003cp\u003eCurrent Plan 227\u003c\/p\u003e \u003cp\u003eNet Worth Outlook 228\u003c\/p\u003e \u003cp\u003eCurrent Plan 228\u003c\/p\u003e \u003cp\u003eCash Flow Outlook 230\u003c\/p\u003e \u003cp\u003eCurrent Plan 230\u003c\/p\u003e \u003cp\u003eRetirement Cash Flow Timeline 231\u003c\/p\u003e \u003cp\u003eCurrent Plan 231\u003c\/p\u003e \u003cp\u003eRetirement Need and Investable Assets 232\u003c\/p\u003e \u003cp\u003eCurrent Plan 232\u003c\/p\u003e \u003cp\u003eDetailed Estate Analysis 235\u003c\/p\u003e \u003cp\u003eCurrent Plan 235\u003c\/p\u003e \u003cp\u003e\u003cb\u003eUtilizing Tax-Efficient Strategies 237\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRecommendations 238\u003c\/p\u003e \u003cp\u003eNet Worth 238\u003c\/p\u003e \u003cp\u003eProposed Recommendations—Utilizing Tax Efficient Strategies Available for Corporations 238\u003c\/p\u003e \u003cp\u003eCash Flow Outlook 239\u003c\/p\u003e \u003cp\u003eProposed Plan 239\u003c\/p\u003e \u003cp\u003eNet Worth Timeline 242\u003c\/p\u003e \u003cp\u003eProposed Plan 242\u003c\/p\u003e \u003cp\u003eNet Worth Outlook 242\u003c\/p\u003e \u003cp\u003eProposed Plan 242\u003c\/p\u003e \u003cp\u003eRetirement Cash Flow Timeline 244\u003c\/p\u003e \u003cp\u003eProposed Plan 244\u003c\/p\u003e \u003cp\u003eRetirement Need and Investable Assets 246\u003c\/p\u003e \u003cp\u003eProposed Plan 246\u003c\/p\u003e \u003cp\u003eDetailed Estate Analysis 249\u003c\/p\u003e \u003cp\u003eProposed Plan 249\u003c\/p\u003e \u003cp\u003eClosing Thoughts: Your Next Steps 251\u003c\/p\u003e \u003cp\u003eIndex 255\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eANDREW FEINDEL, CFA, CFP, CLU, CIM, CSWP, FCSI, FMA, CSA, HBA,\u003c\/b\u003e is Senior Vice President and Investment Advisor at Richardson GMP. He is a graduate of the Richard Ivey School of Business and the Stockholm School of Economics. He is a Chartered Financial Analyst and Certified Financial Planner.   \u003c\/p\u003e\u003cp\u003eAre you one of the many professionals unnecessarily paying the taxman hundreds of thousands of dollars? In \u003ci\u003eKickstart Your Corporation,\u003c\/i\u003e you'll find out if you are and, more importantly, how to put a stop to it. \u003c\/p\u003e\u003cp\u003eIn this book, accomplished financial analyst and planner Andrew Feindel walks you through the foundational and advanced subjects necessary to get a full grasp of how you can take advantage of a corporation's tax-efficient structure. With concepts like tax deferral and the small-business deduction, this book identifies all the potential perks and drawbacks to incorporating your professional practice. \u003c\/p\u003e\u003cp\u003eRelying on personal observations drawn from his many years of experience in the field, the author also provides real-life examples and strategy evaluations to show you how others have used his techniques to save countless dollars on their taxes and improve their financial plans. \u003c\/p\u003e\u003cp\u003eYou'll learn the ins-and-outs of incorporating your practice and why to do it, how to invest money inside your corporation, how to optimize your dividend and salary mix, how to value permanent insurance on the holistic corporate balance sheet, how to use leverage prudently, how to evaluate the role of trusts, and alternative corporate income strategies like the IPP\/RCA and a Capital Gains Strip. Finally, you'll learn how to put all of these strategies together with a comprehensive financial plan. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eKickstart Your Corporation\u003c\/i\u003e will show you how to take advantage of the increased flexibility afforded to you by incorporation. You'll learn to invest in those government programs that truly benefit you and how to avoid the rest. \u003c\/p\u003e\u003cp\u003ePerfect for any doctor, dentist, lawyer, accountant, or business owner curious about the potentially beneficial effects of incorporation, \u003ci\u003eKickstart Your Corporation\u003c\/i\u003e is also an invaluable resource for financial planners and consultants hoping to improve the guidance and advice they offer to clients. The book delivers a message that demands to be heard by any business owner or professional who wants to keep more of the money they earn.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eKeep more of the money you earn as a professional with this invaluable resource\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eHave you ever wondered if you could decrease your tax bill or make your financial plans more efficient? \u003ci\u003eKickstart Your Corporation\u003c\/i\u003e shows you how to do just that by explaining and highlighting the benefits of incorporation for small professional practices. \u003c\/p\u003e\u003cp\u003eDoctors, lawyers, accountants, dentists, and other business owners often pay large amounts in income and other taxes. Implementing the concrete strategies and practical advice found in this book will lead to a more efficient and effective holistic financial plan. \u003c\/p\u003e\u003cp\u003eYou'll learn how and why to incorporate your practice, how to optimize your dividend and salary mix, how to invest money within your corporation, how to evaluate the role of insurance in your plans, the difference between active and passive management, and alternative corporate income strategies. \u003c\/p\u003e\u003cp\u003eWritten in a straightforward and approachable way without any unnecessary legal or accounting jargon, \u003ci\u003eKickstart Your Corporation\u003c\/i\u003e is a valuable resource for any professional practice who hopes to keep more of the money they earn and for financial planners who wish to better serve their professional clients.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989498216677,"sku":"NP9781119709138","price":29.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119709138.jpg?v=1761784345","url":"https:\/\/k12savings.com\/products\/kickstart-your-corporation-isbn-9781119709138","provider":"K12savings","version":"1.0","type":"link"}