Quote:
Originally Posted by Slava
A good financial planner should be able to help you with that. You want someone who holds the CFP designation (Certified Financial Planner), and they can walk you through the tax issues surrounding the corporation and dividends. I'm guessing that you have an accountant already, and a good advisor will communicate with that accountant so that you can make sure that you're all on the same page and going in that same direction.
It shouldn't be overly complicated, but I'm not entirely sure where the issues and limitations with the franchise are going to factor in there. That's why I'd make sure that you have the accountant in that discussion, at least at the outset.
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I have spoken in the past with other owners and they have all kinds of trusts and investment vehicles I've not heard of and sounds far more complicated than I know. I'm sitting on a bunch of cash not doing anything and my accountant has been bugging me for a while to get a Financial Planner, but I've been procrastinating to my own detriment. I literally just finished doing up a will and getting life insurance as a 42 year old professional with 3 kids. Dumb