Call Now! 705-888-2765
- Small Business Owners > Business Transition Strategies

Business - Taking Income

As a sole proprietor, business income is used in conjunction with other sources of personal income to support your family and your personal lifestyle. Some of the business earnings are used to build the business but for the most part the business income is consumed satisfying the needs of everyday life. At this stage of business transition, the income the business is generating is merged and taxed at the business owner’s personal marginal tax rate. Transitions Wealth Strategies primary role is to assist the business owner with tax efficient expense planning so as to minimize the taxes paid.

Once incorporation occurs, one of the significant advantages is that it provides flexibility as to how and when earnings are taken out of the Company. Now, strategies can be employed to significantly reduce taxation and accelerate wealth accumulation.

We work with incorporated small business owners to recommend the most tax efficient salary and dividend income strategies. We also work with strategies utilizing the business retained earnings to build wealth to fund the owner's ultimate retirement income needs and estate planning goals.

Don't just take a salary and hope for the best; there are more advantageous routes to consider that will increase your income now while also building wealth for a better retirement.

Contact Transitions Wealth

Contact Transitions Wealth

For more information please contact us   705.888.2765