Category: Finance & Operations

It’s that time of year when many set their objectives for the following year. Roxanne Arnal, Certified Financial Planner and Optometrist provides an excellent real world framework for goal setting. She recommends that you parse your goals into three distinct categories: Checklist goals, Forecast goals, and Dream goals. And that you anchor the latter by connecting with your WHY.

The best financial plan requires several pieces to make the whole picture make sense. The best plan is one that is built around a solid investment policy statement that addresses your time horizon, risk tolerance and objectives. It incorporates various account types and looks at your entire situation: family, business, and you!

Your Chief Financial Officer, Roxanne Arnal, Certified Financial Planner (c) and Optometrist, provides tips to answer this question with an illustrative example of a solo owner of a Professional Corporation with $155,000 of taxable employment income. While there is not a quick and definitive answer, understanding the basic differences between personal and corporate investing will lead you to the right answer.

Creating a Professional Corporation is a privilege that exists in most provinces in Canada. Many years ago, the tax benefits were obvious. With the tax reforms of the late 2010s, near perfect integration was achieved. Today, creating a professional corporation is no longer a simple decision.