Lower your tax bill
While healthcare business owners all share the desire to pay less tax, we assist each investor with personally-tailored solutions.
Recommending appropriate strategies to lower your tax bill, from your annual tax filing to sophisticated tax planning all starts with our financial discovery meeting. We know the latest tax strategies, take advantage of effective income splitting among family members, and invest tax efficiently to improve your long-term financial success in the context of your goals.
Working directly with your other advisors including lawyers and accountants to deliver integrated strategies is our goal. In addition, our service costs on your non-registered and corporate investment accounts are tax deductible.
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To maximize your wealth and minimize tax, consider the benefits of incorporation. Certain businesses and professional practices can benefit from a very low tax rate on active business income up to the small business limit. This allows you to keep more of what you earn. In Ontario, the tax rate on the first $500,000 of active business income is 15%.
Save within your corporation. While saving income in your corporation defers tax, you can invest tax efficiently and grow your portfolio to the point of financial independence. This special opportunity to compound your investment returns while deferring tax should not be missed.
Cover your risks
Smart insurance strategies provide financially for your family in the worst case scenario. Protecting your income, assets and family through life insurance, disability, critical illness coverage will help you sleep at night knowing that your family will be provided for in the worst case scenario.
If you are incorporated, you can save money on insurance by owning policies through your corporation, even if you have Ontario Medical Association (OMA) group coverage. The cash you save stays in your corporation. Consider creating a health plan to make your family’s health/dental expenses deductible to the corporation.
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Fund your kids’ education
Contributing early to an RESP can help make post-secondary education more affordable as tuition rates skyrocket and education becomes increasingly important for career development.
With more time for your money to grow, your contributions can be smaller and will maximize your children’s or grandchildren’s Canada Education Savings Grants (CESGs). Contributions are eligible to receive a CESG up to $500 of the first $2,500 contributed to the plan every year for each beneficiary under the age of 18.
Travel and other joys
You’ve worked hard and taken risks – you deserve a lifestyle that involves plenty of travel and the major purchases that make life amazing. We can help you plan to make sure that joy is always within your budget.
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Invest in healthcare innovation
We are tapped into the latest research and development players in the healthcare sector, which is experiencing considerable growth and we believe will continue to do so in the coming years.
We can help you invest in healthcare and med-tech companies wisely in this exciting and quickly-emerging sector of the market.
Maximize your charitable support
Helping you give back to your community in a meaningful and sustainable way is a passion of Rosemary’s. We can help you support causes that matter to you in context of your comprehensive wealth management strategy.
Today, many families designate a portion of their wealth to charity while they are still living to witness the impact of their generosity and reap considerable tax benefits.