Salary Vs. Dividends For Business Owners
Whether you pay yourself a salary or a dividend is a decision that every business owner is going to have to make. How you take income from your company can affect both your retirement planning and your taxes.
Critical Illness Insurance
Critical Illness Insurance pays a lump sum benefit, should you be diagnosed with one of the covered conditions of the contract and survive the waiting period. This cash flow can be used at your own discretion.
Are You Incorporated?
Corporately owned insurance may be tailored to address your business and family needs, using tax deferred profits in the corporation.
Solutions To The Great Tax Spike Of 2018
The current government specifically designed TOSI & TOPI to reduce your wealth. Now more than ever, tax efficient cash extraction strategies are vital to replace the loss of dividend sprinkling to family members and proactive investment strategies.
Do You Have Solutions For The Tax On Split Income (TOSI) & The Tax On Passive Income (TOPI)?
Business Owners who have children in or near University age and have passive income have lost sprinkling dividends to their children. They will be subject to the claw back of the small business deduction commencing, January 1, 2019.
Two Ways The Federal Liberal 2018 Budget Will Affect Business Owners Going Forward
Business owners should be reviewing their investments, spending habits and insurance, to proactively address these tax increases. If you are successful and have saved or will save more than $1 million in your company, your passive income could be subject to 100% taxation.
Early Christmas Present from Trudeau & Wynne?
Currently, the combined corporate tax rate is 15%. The new combined corporate tax rate for small businesses in Ontario will be 13.5% in 2018 and 12.5% in 2019. That is a total reduction of 2.5% on active business income, allowing you to save more.
Legacy Planning For Business Owners
Legacy Planning involves a plan for managing your total wealth while you are alive and arranging on how to distribute your estate later in life. Legacy Planning can be donating to a charity..
Highlights from the 2017 Federal Budget
The government wants to ensure the fair treatment of Canadians. The budget announced a consultation to review the fairness of certain business strategies used by private companies and their shareholders. The focus of the consultation is three-fold...
Tax. Pay it or save it. The choice is yours...
Tax. Pay it or Save it. The choice is yours... We give business owners access to unique proprietary ideas to reduce the burden of the recent tax increases. Here are a few solutions that Lifecycle Wealth offers...
The secrets to his success
Although coming from modest beginnings, Michael Lee-Chin has learned a thing or two about building wealth and also how to weather a financial storm.
Why Long Term Care Insurance?
Life expectancy is on the rise. There are a number of unexpected life events that can interrupt your financial plan.
Officially part of the TCA Advantage Club Program
We are happy to announce that we are officially part of the TCA Advantage Club Program, offering TCA members who are business owners savings on their Insurance, Investments and so much more.
The Great Tax Spikes of 2015 & 2016
The past 2 years we have seen the Ontario Government followed by the Federal Government increase the top personal marginal rate of tax by 7.12% from 46.41% to 53.53%.
ODA Annual Spring Meeting 2016
ODA Annual Spring Meeting 2016 was a huge success thanks to our clients and dentists all around Ontario coming out to The Spoke Club.
Disability Insurance with Return of Premium
Disability Insurance with Return of Premium and Exclusive Rates for Occupations such as Dental Hygienists, Assistants and Office Staff.
The Great Tax Spike of 2016
How To Protect Your Family & Your Practice From The Great Ontario Tax Spike Of 2016!
Concerns over small-business tax changes
Doctors and lawyers who run their own practices are anxiously waiting for more details on Prime Minister Justin Trudeau’s plan to change tax rules for small businesses...
Changes the Liberal Government plans to set in place
5 Election promises that the Liberal government campaigned for and many should expect quick passage into law... Fortunately, the impact of these anticipated first 4 changes do not impact the Lifecycle Wealth Plan
Toronto ACCESS Event at Liberty Grand with Michael Lee-Chin
You are cordially invited to an exclusive access event on Wednesday, November 18, 2015 at the Liberty Grand at 7:00pm in Toronto. This presentation will add valuable insight for your future where Michael Lee-Chin will address business owners on the important issue of wealth creation and the intergenerational transfer and sustainability of wealth.
Toronto Construction Associations ‘Building A Better Business’ Symposium
The Toronto Construction Association (TCA) celebrates a successful inaugural Symposium dedicated to helping its business owner members and we at Lifecycle Wealth and Mandeville Wealth Services were happy to help make it a success!
Life Insurance Tax Changes in 2017
There is limited time left until many insurance rules change in Canada.