Archive for the ‘Business’ Category

IPP versus RRSP Date posted February 21st, 2011

An IPP (Individual Pension Plan) is a tool that can replace an RRSP (Registered Retirement Savings Account) for small business owners.  So which one is better to hold your investments in?

Why consider an IPP (Individual Pension Plan).

  • As you near retirement the contribution limit is greater than that of an RRSP
  • In some circumstance IPP’s behaves differently in your estate.
  • Can be used in different tax planning strategies (Accountant is recommended to discuss these, but can include under funding to devalue a business)

 

Why would you not want an IPP (Individual Pension Plan)

  • Annual fees are due to maintain IPP’s
  • Many more rules and restriction than an RRSP
  • A more complicated tool to understand.

 

If you are considering an IPP I would recommend talking to both an investment professional that understands this tool and an Accountant that can explain the tax benefits.  These can be a great tool if understood and used in the right planning situation.

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Which Assets are Protected? Date posted May 6th, 2010

Today I had a brief conversation with a Surrey business owner that due to an unexpected turn of events he gets to keep the business debt, but losses the business.  In life these things happen and are never fun.  So if this ever happens to you or someone you know it is important to understand the protection some of your assets have built in. (more…)

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SR&ED grants, does your business qualify? Date posted April 27th, 2010

The Scientific Research and Experimental Development program or SR&ED is a grant program for Canadian business developing new technologies or scientific relations.  The great thing about this program is the idea does not need to be so revolutionary it could be featured in a Sci-Fi movie; it can be a simple new tool or computer program.  This program does offer a huge range of grants.  If you are developing anything new in Canada this is a program worth looking into. (more…)

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BC is Paying to Train Your Employees Date posted April 21st, 2010

With all the talk of stimulus programs, the BC Government’s Workplace training for innovation program has seemed to remain a mostly unknown program outside of the training industry. For those BC small businesses that qualify this is a great program and definately worth a few minutes to learn about.  This program can be used for qualifying training, and the government has offered to pay the bill. (more…)

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