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Category: Business Owners

Estate Equalization for Family Business Owners

March 9, 2023Blog, Business Owners, Estate PlanningMaclean Rowe

In the planning of their estates, most parents might prefer to leave their assets in equal shares to their children. Often, the only complication in this scenario could be how to divide up the family home.

For owners of a family business, however, the concept of treating the children equally can often be much more problematic. This can especially be the case where one or more children are active in the business while others are not.

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Get Your Corporate Dollars Doing Double Duty

April 2, 2022Blog, Business Owners, corporateMaclean Rowe

Owners of very successful private corporations are well aware of the importance of cash flow. Many are protective of how they allocate corporate capital so that business ventures are adequately funded and investment opportunities are not missed.

The Immediate Financing Arrangement offers an opportunity to provide life insurance coverage and accumulate wealth on a tax-advantaged basis without impairing corporate cash flow.

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The Difference between Segregated Funds and Mutual Funds

September 2, 2021Blog, Business Owners, InvestmentMaclean Rowe

Segregated Funds and Mutual Funds often have many of the same benefits however there are key differences you should consider like Maturity and Death Benefit Guarantees.

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Disability Insurance and Small Business: How a Small Business Owner Used Disability Insurance to Stay Afloat While Managing Depression

May 3, 2021Blog, Business Owners, corporate, disability, Disability Insurance, FamilyMaclean Rowe

Sandra ran her own successful insurance agency company for over a decade before it hit her like a ton of bricks – she was chronically depressed and something had to change.

Triggered by a combination of constant stress leading to severe burnout and her 12-year-old son’s recent diagnosis with Type 1 diabetes, Sandra needed some time away from the office to recover and receive treatment. Her depression was absolutely debilitating and could have been devastating to her business and income.

Luckily, Sandra, whose name has been changed to protect her privacy, had purchased two disability insurance policies eight years prior that would help her through such a turbulent time. Sandra worked in the insurance industry and had seen just how important it was to protect yourself from a loss of income in case of a debilitating illness or disease.

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5 Top Financial Planning Strategies For Small Business Owners

January 31, 2021Blog, Business Owners, Debt, taxMaclean Rowe

Creating a financial plan for your business is critical not only for your business’ survival but also for its growth. However, many small business owners struggle to create a comprehensive financial plan that considers all of the financial needs of the business – which should include long term growth goals and contingency plans for any unexpected circumstances. Below, we have compiled a list of the strategies business owners should start with when considering a comprehensive financial plan.

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Government of Canada to allow up to $400 for home office expenses

December 29, 20202020, Accountants, Blog, Business Owners, taxMaclean Rowe

For the 2020 tax year, the Government of Canada introduced a temporary flat rate method to allow Canadians working from home this year due to Covid-19 to claim expenses of up to $400.

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Canada Emergency Wage Subsidy expanded to include more businesses!

July 17, 2020Blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateMaclean Rowe

On July 17th, Finance Minister Bill Morneau announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) that will expand the number of businesses that qualify for the program.

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Canada Emergency Wage Subsidy extended into December!

July 13, 2020Blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateMaclean Rowe

On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.

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CERB Extended | Business Owners who did not qualify previously – expanded CEBA starts June 19th

June 17, 20202020 Only, Blog, Business Owners, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, corporate, individualsMaclean Rowe

Great news for Canadians out of work and looking for work. The CERB will be extended another 8 weeks for a total of up to 24 weeks.

The expanded CEBA will begin June 19th.

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The Need for Corporate Life Insurance

June 1, 2020Blog, Business Owners, Buy-Sell Insurance, corporate, Estate Planning, Life InsuranceMaclean Rowe

Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.

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Recent Posts

  • Whole Life Insurance – A Whole New Asset Class
  • Estate Equalization for Family Business Owners
  • Is the Life Insurance Industry in Canada Stable?
  • 2023 Financial Calendar
  • Has Purchasing Life Insurance Changed Since 2020?

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Contact Us

Gaire Maclean, CFP, CLU
Certified Financial Planner and Chartered Life Underwriter

Tel: (604) 683-2044 
Fax: 604 689 2801 
Email: gaire@macleanrowefinancial.com

Tannis Rowe, BA, CFP, CLU
Certified Financial Planner and Chartered Life Underwriter

Tel: (604) 683-2044 
Fax: 604 689 2801 
Email: tannis@macleanrowefinancial.com

#1810 – 1075 West Georgia Street
Vancouver, British Columbia
V6E 3C9

info@macleanrowefinancial.com

Latest Posts

  • Whole Life Insurance – A Whole New Asset Class
  • Estate Equalization for Family Business Owners
  • Is the Life Insurance Industry in Canada Stable?
  • 2023 Financial Calendar
  • Has Purchasing Life Insurance Changed Since 2020?

About

MacLean Rowe Financial’s boutique approach to financial advice affords clients with the individual attention they deserve to achieve their goals and objectives.
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