Planning For
Professionals
Professionals have duties and obligations defined by their registration, regulation, and licensing. We understand how these additional responsibilities impact your financial choices. You might be an employee, a sole proprietor, or an incorporated professional, but integrating your personal and business objectives is still important.
We’ll work with you to inspire confidence to:
- Know your options
- Focus on the right things
- Manage financial resources
- Create a roadmap for life’s transitions
- Align your personal and professional goals
Planning For Professionals
Here are some questions we can explore together… because the answers are all about you.
Transitions
What if I decide to become a consultant? And what business model best supports that work?
What happens if I become a partner or principal of my professional firm? And are there any tax considerations that I should address?
When I retire, what can I do with my pension? And how do I ensure flexible access to retirement funds?
Tax Planning
How long do I contribute to CPP under the enhanced rules if I work after 65? And should I invest CPP payments if I receive them but continue working?
What are the tax consequences if I terminate my employment and participate in an employee profit sharing plan? And do the proceeds create additional RRSP contribution room?
What tax consequences arise if I work from home versus the office? And what tax deductions are available to me?
Risk Management
How can I mitigate personal liability? And what professionals should I consult to manage these risks?
What happens to my group benefits and retirement accounts if I make a professional move? And are there options to manage these personally?
How do I protect my income against the risk of becoming disabled? And how does my profession impact the insurance available to me?
Wealth Accumulation
Are there investments that can offer both growth potential and creditor protection? And does this also allow for diversification?
How do I build a tax-efficient retirement portfolio? And does this affect my retirement income?
How do I ensure that there is no clawback of Old Age Security when I retire? And what tax-efficient sources of income can I access in retirement?
Gain control of your financial future with a clear personalized financial plan.
Incorporated Professionals
We can work with you to answer questions like these… because the answers are all about you.
Transitions
Can my spouse and I be shareholders of the same professional corporation? And if so, what happens if we divorce?
Do I need to be concerned about probate costs? And are there mechanisms to minimize these costs?
Where do I start as a recent graduate now running a professional business? And what kind of advice do I need?
Tax Planning
How do I reduce my personal and corporate taxes? And how do I choose the right professionals to guide me?
What are the rules that allow for income splitting with my family members? And can I do this through issuing a dividend?
How does the capital gains tax work? And how does this affect me?
Risk Management
How do I protect my income against the risk of becoming disabled? And how does my profession impact the insurance available to me?
Can I protect my income if I’m diagnosed with a critical illness? And are there tax advantages for different policy structures?
Can my spouse own shares in my professional corporation for income splitting? And what happens to my shares when I die?
Wealth Accumulation
Should I consolidate high-interest debts to reduce overall interest costs? And how do I integrate any student loans into a wealth accumulation strategy?
Can I own real estate in my professional corporation? And what are the tax consequences if I sell real estate in a corporation?
What tax-efficient wealth accumulation options are available to me? And should I invest inside and outside my professional corporation?
Need personal financial guidance as an incorporated professional? Let’s craft a personalized strategy that aligns with your unique goals.
Engineers
As an authorized agent for the Engineers Canada Manulife Affinity Program, we have been entrusted to provide expert, sound insurance advice for members associated with Engineers Canada.
You might be an employee, a sole proprietor or an incorporated business owner, so understanding the different roles that you may assume over your professional lifetime is important.
Am I eligible to participate in the Engineers Canada Manulife Affinity Program options? And do these options meet my personal and professional needs?
Can the Engineers Canada Manulife Affinity Program address the insurance needs required in my Shareholders Agreement? And are there other options I should consider?
I’m planning to incorporate a business, can I change the ownership of my Engineers Canada Manulife Affinity Program policy? And where can I get additional insurance if I need it?
Can you assist me if I have other financial planning needs beyond the Engineers Canada offerings? And how do you integrate the planning I’ve already done?
What are the financial implications of transitioning to a managerial role or switching industries? And how should I financially plan for further education or certifications?
The Impact We’ve Had
Partner With Professionals Who Understand Professionals.
Partner with experts who understand your needs. Connect with us today!