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Investments in Corp.
About the Author: Wilson Wong & Associates, are Chartered Accountants in Calgary providing tax and accounting services to small and medium sized businesses and high networth individuals.
You've done exceptionally well
and have built up quite a bit of cash in your corporation. You don't want to
take the money out because you don't want to be taxed at high personal tax
rates.
Did you know that you
could invest the funds in your corporation? You could invest in real estate,
stocks, bonds, GIC's, mutual funds just the same as you would be able to
hold personal investments. The difference being the investment is owned by
the corporation. This way you don't take a personal tax hit and utilize your
corporate money effectively.
There's more to this though.
There are complexities to effectively planning personal and
corporate tax when you add investments to the mix. Each type of investment is
taxed differently and sometimes there are opportunities for tax free money going
to the shareholder as well. Not easy stuff but great rewards. Give us a call to
talk about how to hold investments in your corporation.
-Wilson Wong, CA
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