Your tax filing may be different this time around because of the COVID-19 pandemic. One piece of advice: start estimating now whether you may owe money to the government.
With retirement on the horizon, an estate freeze can allow a business owner to gradually transfer a business to the next generation while also dealing with tax concerns proactively. Kim Parlee speaks with Georgia Swan, a Tax and Estate planner with TD Wealth.
The pandemic has shaken up small businesses and made filing taxes an even more complicated task for many owners. Chris Gandhu, a High Net Worth Planner with TD Wealth joins Kim Parlee to explain why this year is different and offer some thoughts on what business owners should consider before they file.
If you need to save more money in retirement than the maximum allowed by an RRSP, you may want to consider an Individual Pension Plan. Kim Parlee discusses the pros and cons with Chris Gandhu a High Net Worth Planner with TD Wealth.
Deciding whether to incorporate your business or not may depend on a few unique factors since it can bring benefits such as a reduced tax rate but also higher costs and complexities.