Is it Worth it to Break Your Mortgage? Your mortgage is a huge investment. There are a lot of things to consider when you’re going through the mortgage application process. Life is full of changes and sometimes breaking your mortgage is an option you’re considering. Breaking a mortgage is something many people consider at some point in life. When breaking a mortgage you will, unfortunately, need to pay the mortgage lender a fee called a […]
Canadian small business needs to speak up and make sure someone is actually listening. The implication from Mr. Trudeau and Mr. Morneau is that most owners of small corporations in Canada are somehow ripping off the system and that is treating the rest of Canadians unfairly. There are several insinuations here and even in the 2 articles linked here that are simply false statements. Mr. Trudeau goes so far as to say that an employed […]
Concern mounts over Morneau’s proposed tax changes affecting small businesses See the Article in the Globe and Mail: https://www.theglobeandmail.com/news/politics/concern-mounts-over-morneaus-proposed-tax-changes-affecting-small-businesses/article36123252/?utm_source=Shared+Article+Sent+to+User&utm_medium=E-mail:+Newsletters+/+E-Blasts+/+etc.&utm_campaign=Shared+Web+Article+Links Morneau and Trudeau are simply not thinking things through. The theory that a small business should pay essentially the same tax rate as a high income personal earner is ludicrous. This will kill small business in Canada. Small business needs to be nurtured and allowed to grow assets and provided opportunities to then be able to […]
Thinking about death is something that no one really wants to spend a lot of time contemplating. It’s important to consider who would face financial stress in the event of your death. Life insurance will provide your loved ones with the cash they need. The goal of a life insurance payout is to replace your income after your death. Additionally, a well-designed life insurance policy will cover expenses such as your funeral costs, ongoing costs […]
There are more tax proposals currently being reviewed. These are penal to small businesses and to professionals and professional corporations. Regardless of your political stripes at some point we have to cry wolf. Recently taxation to small business owners was increased through higher dividend taxation and class changes in write downs. The guise behind this was more equalization to business owners who apparently aren’t paying their fair share of taxes according to Morneau and Trudeau. […]
Understanding Your Employee Benefits Plan’s Monthly Contribution Amounts As Canadians, we are lucky to have access to some of the best public health care in the world. Having a good employee group benefits insurance plan will help you with the gaps in your coverage such as prescription, dental, short term and long term disability, vision care, preventative therapy and more. With a group benefit plan typically comes contributions from your paycheque. It’s really impossible to […]
Why Your Rates Shouldn’t Be the Only Consideration When Choosing a Group Benefits Plan Every day there are 14.5 million Canadians heading to work for a small or medium-sized employer. It’s estimated that three-quarters of companies with between 20 and 99 employees offer some type of health benefits program, and that number rises to 93% for employers that have between 100 and 499 employees. Choosing a group benefit plan is a big decision and substantial […]
Understanding the Reasons Why Group Insurance Claims are Denied On the surface, a group insurance package makes a lot of sense. The employer and the insurance company create a plan based on the needs and budget of your company. Once the agreement is signed you and your employees pay the insurance company money to keep the policy active. It may seem simple, but insurance contracts are far from simple. There are many stipulations and obligations […]
Healthcare Spending Accounts (HCSA) – A Cost Effective and Customized Benefit Plan Healthcare Spending Accounts (HCSA or HSA) are a growing option in Canadian workplaces. Each member of your staff will have unique health care and dental needs. Even the best-designed employee benefit plan will have some gaps for an individual worker’s needs. The goal of Healthcare Spending Accounts is simple; provide a predetermined allotment of funds and let the individual employee decide how best […]
Registered Retirement Savings Plan (RRSP) – A Group Savings Benefit to Grow Your Business and Help the Future of Your Employees You rely on your employees daily to take your business to the next level. Their well-being is something you value, both for today and tomorrow. Having a comprehensive Registered Retirement Savings Plan (RRSP) is an excellent way to provide your staff with some financial security for the future. A RRSP is a personal savings […]
