Tax Planning

Personal and Business Tax Plans

We will review your circumstances in order to create custom personal and business tax plans. Prior to joining the Davis Nerman Wealth Group, one of our principals, Seth Nerman had over a decade of experience as a tax and estate planning lawyer. Our review will consider:

• Income splitting opportunities between family members 

• Corporate structure and the use of trusts

• Owner manager compensation options

• Tax planning for the sale/succession of a business

• Retirement funding

• Charitable giving strategies 

• Tax efficient investment strategies

How should I pay myself?

During your working lives, but especially in retirement, you may end up with several sources of income. These may include an incorporated business, different types of investments accounts, real estate, pension, CPP, OAS, etc. Determining how you pay yourself with all of these different choices can be complex and confusing. One of the most common questions we get is, how should I pay myself? We can help to prepare a customized income plan in order to determine how to save the most tax from year to year and ultimately keep your investments growing for longer. 

Example Income Plan

Corporate Structure

The second most common tax question we get asked about, is my corporate structure set up properly? We can help to analyze your corporate structure to ensure that it is set up in the most tax efficient way, whether you are planning to keep your business for the long term, sell in the near term or pass your business onto a future generation.  

 

 

Example Corporate Organization Chart