Your Working Years

As a business owner, you will go through many phases in your working years.

You will have periods of time when your focus is paying down debt, planning for upcoming expenses, and growing your business. You will also have periods of time when your business is prosperous, your income is higher, and your focus is on saving for recreation and retirement.

At KWB we understand that during your working years, balance and planning are the keys to prosperity. We know that it can be difficult to know how much to spend and how much to save, and that planning for income and expenses even a few years into the future can sometimes be challenging. We also understand that you have spent years investing in and growing your business. You may feel unsure about what to do now that you have to decide how to invest and protect your wealth.

We greatly appreciate KWB’s experience and advice regarding managing a business, and their knowledge of complex tax laws. Patricia Campbell, Louis Bugeaud

We specialize in helping the owners of small to medium sized businesses maximize their financial success through tax minimization, business structuring, and planning. We help you identify areas where money can be saved, and can help you to plan for expenses in the future. If you have an existing wealth management advisor, we are happy to work directly with them. However, if you don’t, we like to partner with the Angus Watt Advisory Group to bring you wealth management services to help you plan and save during your working years.

We know that your working years are the most challenging, but also the most rewarding. By allowing us to guide you, you will achieve greater financial clarity and peace of mind, allowing you to get the most enjoyment out of your working years.

For more information on how we can guide you through your working years, please contact us.

Blog posts about Your Working Years

Jul 27 2012
The Value of Advice

What is the value of advice? When it comes to portfolio management, the overall value of the advice can be measured by comparing the performance of one portfolio over another in a specific amount of time. However, when it comes to wealth management, the overall value of the advice discussed regularly with clients is much more difficult to measure. Read on to see some real life examples of the value of the advice given.

Jul 19 2013
Once in a Blue Moon

I recently read an excellent article about a rare economic occurrence that was happening this past June. To help you find out more about this rare economic occurrence, here is the full article prepared by Wealth Stewards Portfolio Management Inc. (WSPM)

Oct 8 2012
Converting Your Business into Cash with Life Insurance

In the second part of our life insurance series you will find out how to help your estate access the wealth represented by your shares in your business and your shareholder loan through the proper use of insurance.

May 2 2017
Registered Education Savings Plan (RESP)

With summer over and the kids back at school, many are looking at accessing their RESPs to cover the costs of post-secondary education. Here are some things to consider.

Jul 14 2013
The Enlightened Investor - Fees & Expenses

Fees and expenses are the single biggest reason professional money managers fail to outperform the market return. Learn a little more about what are reasonable fees and what makes up most investment fees.

Jan 20 2013
Avoid Tax on Investment Income

If one of your New Year’s resolutions was to save more money, then the Tax-Free Savings Account (TFSA) may be a good option for you to use. Learn more about the TFSA rules and limits.

Jul 16 2012
Life Insurance Creates an Estate Value

Life insurance has many applications and in this first of a 3 part series you will see how it creates an estate value when little to no value previously existed. To learn more, read on.

Mar 31 2012
Wealth Management

Many of our clients who have started to utilize wealth management services with our wealth management partners have seen their returns go up, risk go down and most are paying less in fees and commissions.

Jan 12 2016
Save Money with a Health Plan

Save Money with a Health Plan How can you save $100’s and maybe $1,000’s in taxes in one simple step? Are you an employee of your own company and do you have significant medical expenses each year of $2,000 or more not covered by a health plan? Then creating a “Private Health Services Plan” (PHSP) as soon as possible could save you big dollars.

Jun 9 2013
The Enlightened Investor-Understanding Returns

One thing frustrated investors often lament are their returns. So here's a question. Do you know what your returns really are? Find out more about how to measure your returns including some great but simple investment benchmarks over the last 5 years.

Nov 15 2016
Top 4 Financial Tips for the New Parent

Here are our top 4 financial tips for the new parent: Apply for a Social Insurance Number (SIN) for your child: It’s a good idea for you to apply for a Social Insurance Number for your child as soon as they are born. This way, you will not be left scrambling to obtain one when your

Oct 18 2016
Canada Child Benefit

Beginning July 2016, the Liberal government combined the Canada Child Tax Benefit, National Child Benefit Supplement and the Universal Child Care Benefit into the Canada Child Benefit. Under the new Canada Child Benefit, families with children under the age of 18 will be eligible for a maximum annual benefit of $6,400 ($533 per month) per

Sep 20 2016
New Home Rebate

Buying or building a new home? Did you know that if you purchase a new home or have substantially renovated your own, you can claim a rebate on the GST or HST you paid through CRA’s new home rebate. What qualifies? Your home must meet the following conditions: Must be you or your relation’s primary

Sep 6 2016
Home Buyers Plan

The Home Buyers Plan (HBP) is a program that allows you to withdraw up to $25,000, per person from each of your RRSP accounts in a calendar year to buy, or build, a qualifying home. To be eligible for the Home Buyers Plan, the following must be met: You must be considered a first-time

Jul 29 2014
Is your life insurance costing too much?

For many Canadians, the thought of discussing their life insurance protection AFTER the purchase of a policy is unimaginable. It is difficult enough talking about death the first time, why would we want to discuss it again? Life Insurance is about the living…not the dead There are several reasons you might want to consider discussing

Feb 5 2014
Are RRSP’s the right investment choice?

RRSPs are one of the few last minute and flexible deductions available to people with employment income from a T4. However, if you are an owner of the business and have some control over your salary, you should consider some of the other alternatives first. Even if you can’t control your own salary you should

Jun 14 2016
Registered Education Savings Plan (RESP)

An RESP is an education savings account that is registered with the Government of Canada that helps you save for a child’s post-secondary education. With an RESP, you may be able to receive other saving incentives, such as the: Canada Learning Bond Basic and Additional Canada Education Savings Grant There are two different types of RESPs

Nov 10 2015
The Secret to Fitting a Healthy Lifestyle into your Busy World-Part 2

Part 2 of an article on Healthy Lifestyles. See Part 1 posted on October 28, 2015. Strategic Step #2: Automate & Re-Engineer Your Environment We are creatures of habit. Did you know that on a typical day you make about 300 decisions about nutrition? Most of them are done unconsciously and can often lead to

Oct 28 2015
The Secret to Fitting a Healthy Lifestyle into your Busy World-Part 1

Entrepreneurs, business owners, and professionals often lead very busy lives. Being one myself I can relate to wearing many different hats, starting early, ending late, and seeing it have the impact on my lifestyle and my health. So many of us get into an unconscious pattern that just becomes our normal way of being. Unfortunately

Jul 23 2015
Change in use of property from capital to inventory or vice versa.

There are no immediate repercussions for the change in business use of property from capital to inventory. The differences arise upon sale of the real estate. There is no provision in the Income Tax Act which describes the circumstances in which gains from the sale of real estate are to be determined as being either

Nov 18 2014
Year End Tax Tips

There are a number of perfectly valid actions you may still be able to take before the end of the year to cut your taxes and to optimize your wealth management planning. As tax planning specialists, we at KWB can help you decide exactly what to do, when to do it, and what not to

Nov 12 2014
The "Family Tax Cut" credit

Prime Minister Stephen Harper and Finance Minister Joe Oliver recently announced a “Family Tax Cut” credit which allows certain Canadian families to reduce their overall federal income tax. This relief will be available starting in 2014. The new measure would allow a higher income spouse to shift a portion of their income to a lower

Feb 3 2015
Child Related Benefits, Expenses and Deductions

There’s great news for 2015 for Canadians with children. Stephen Harper has announced a “child care benefit boost” – which includes an increase to, or return of, the monthly Universal Child Care Benefit cheques and an increase to the amount taxpayers can deduct for child care expenses and the child fitness credit.   Changes to