Business Financial Planner | Entrepreneurs

Every Entrepreneur Needs a Qualified Business Financial Planner.

Entrepreneurs

Business Financial Planner for Entrepreneurs

An idea without a plan remains a dream. A vision with a plan becomes an attainable goal. It’s always easier to win a match when you know the rules of the game. In business, the financial planner plays the same role as the coach. He or she doesn’t make the decisions for you, but guides you towards the best decisions for an easier victory. Entrepreneur coaching is there for you every step of the way.

Identify Specific Needs

Plan a strategic meeting to analyze your situation from a different angle.

Offer transparency, objectivity and proactivity in achieving defined objectives.

Proposer la transparence, l’objectivité et la proactivité, dans l’atteinte des objectifs définis.

Why Choose Planico

  • Know-How

  • Proven Expertise

  • Key Results

Business financial planner at work with client | Planico

A Financial Planner for Your Personal and Corporate Situation

When they’re in business, entrepreneurs tend to forget about their personal situation. Their business comes first, and their personal financial situation is all too often ignored.

Unfortunately, this risk can be very costly. Hence the importance of balancing their overall portfolio to reduce risk.

Fortunately, Planico specializes in financial planning and entrepreneurial coaching. A business financial planner will be happy to manage your financial situation so that you can run your business with complete peace of mind.

The Company’s Needs

When it comes to financial planning for your business, it’s important to consider and anticipate your company’s growing needs as it grows.

By planning ahead, you can ensure successful growth and avoid unpleasant surprises along the way. You’ll be able to ensure that all staff are in exactly the right places for your company’s success.

Self-Employed and Incorporation

There are many tax advantages to incorporating, as well as many advantages to being self-employed and incorporating. With our expertise, we’ll be able to determine whether it’s best for your company to incorporate, or for us, depending on your goals and needs.

To create the most ideal financial planning strategy for you based on your goals and needs, we invite you to schedule a call with us.

Management Company

A management company can be a promising avenue in your financial planning strategy, enabling you to protect your wealth, optimize your tax situation and better manage your investments. However, establishing a strategy that includes the creation of a management company can be complex, which is why you’ll need expert help to successfully protect your assets and optimize your company’s tax situation.

We Know a Thing or Two About Coaching Entrepreneurs

Whatever your situation, your goals and your needs, the entrepreneurial coaching we offer can put in place a tailor-made strategy
to help you achieve your goals more quickly. strategy to help you reach your goals faster.

Strategic Planning and Stabilization of the Company’s Financial Situation

A entrepreneur’s financial situation is unique. Entrepreneurs are overwhelmed with tasks, obligations, responsibilities and unforeseen events.

Their company’s financial situation is treated with the utmost care, while their personal financial situation takes second place.

In this case, 5 elements need to be taken into consideration to restore the overall balance of the corporate and personal financial situation.

The role of the financial planner is to offer entrepreneurial coaching to stabilize the situation, minimize risks and restore the overall balance between the entrepreneur’s personal and corporate situations.

The Financial Equilibrium of an Entrepreneur

Transferring Your Business

The transfer of a business takes several years to prepare, and planning it is an essential step in the success of your financial planning. It may well be a key step in your retirement plan, and you need to make sure that the operation runs smoothly, at the right time and in the most optimized way possible.

Schedule a meeting with us to establish a strategy tailored to your needs and objectives.

Investment Diversification

Investment diversification is a crucial step towards promising and stable returns. As there are a variety of different asset classes and funds, with a tailor-made financial planning strategy, we will be able to help you invest optimally and help you maximize your returns.

Schedule a meeting with us and let’s start by discussing your needs and objectives.

Personal and Corporate Investments

The vast majority of entrepreneurs/shareholders rely on the income generated by their businesses to meet their expenses and, above all, to build a proud and stable capital base for a prosperous retirement. In this situation, it’s important to establish a precise, concrete plan to combine your corporate and personal investments. Together, we can develop a strategy tailored to your specific objectives.

Time Horizon and Investment Optimization

The time horizon determines the expected duration of your personal or corporate investments. By identifying the types of investments that suit your investor profile and portfolio, we can establish a clear, precise and efficient investment horizon.

By establishing a time horizon for your investments, we are able to optimize your investments and maximize their returns.

Using Your Retained Earnings Appropriately

Retained earnings (RE) represent the amount of income remaining after all costs related to running the business have been paid, i.e. direct and indirect costs, taxes, dividends to shareholders, etc. It’s an amount left over that can be of great use to you in growing your business and can be considered in your financial planning strategy.

It’s an amount left over that can be of great use to you in growing your business, and can be considered in your financial planning strategy.

Plan and Stabilize Your Company’s Tax Situation

By examining your company’s tax documents, we can easily check whether you are taking advantage of all the tax breaks (deductions, credits) to which you are entitled as a business owner. At the same time, entrepreneur coaching assesses whether there are strategies you can apply to reduce or defer taxation.

RDTOH and CDA

Strict new rules on investment income can add complexity to your tax situation and generate unexpected costs, such as the refundable dividend tax on hand (RDTOH). That’s why it’s important to consult a financial planner to ensure that you and your company are optimizing your tax situation.

The Capital Dividend Account (CDA) is a must-have for entrepreneurs, as it enables a private company to pay tax-free dividends to its shareholders.

Through our many years of expertise, we have mastered the use of these strategies to help you optimize your tax situation and ensure you benefit from them.

Interest and Depreciation Deductions

When analyzing your tax situation, we take depreciation into account, since it’s an ingenious method of tax optimization. Depending on your situation, objectives and needs, it can be an interesting depreciation method to consider if you own a business. Large investments can be the key to long-term returns and tax optimization, so depending on the investments you’ve made, it may make sense to adopt a straight-line or declining-balance method.

Schedule a meeting with us to establish the best approach for your financial planning.

Capital Gains Deductions

Capital gains deductions are available. These deductions may apply to specific items that affect certain situations or sectors.

When we work together on the financial planning of your business, we meticulously analyze eligible capital gains deductions.

Let’s schedule a meeting to discuss your situation and the opportunities available to you.

Impact of the Morneau Reform

The Morneau reform was introduced to prevent professionals from setting up private companies to reduce their tax bill. Under the Morneau reform, all passive income in excess of $50,000 will have a negative impact on the small tax rate granted to the ABSP***.

The Morneau reform may have had an impact on all well-meaning entrepreneurs with passive investments, so it’s vital to carry out an analysis in order to adapt and optimize the taxation of your business.

*** ABI (Active Business Income) first $500,000 of net profits before tax.

Get to Work with Your Business Financial Planner.

You can’t argue about personal taste.
Your own needs always come first.

Financial Planning – Retirement Situation

As an entrepreneur, you’ve worked hard enough, sacrificed enough and risked enough to earn the retirement of your dreams.

Analyzing your retirement situation requires you to consider a multitude of data in order to properly assess your current savings situation and your anticipated retirement situation.

With the help of your business financial planner, it makes it easier to reach your destination.

A Well-Deserved Retirement

Estate Freeze

When transferring a business, surprise bills can arise. Without proactive planning, you could be surprised by a higher-than-expected tax bill. Whether it’s you or the person who will receive the business, it’s possible to plan the transfer properly to ensure that the transition is as smooth as possible.

An estate freeze allows you to freeze capital gains (and corresponding taxes) based on the value of the business. This is an interesting strategy to include in your financial planning if one of your objectives is to transfer the business or shares to a successor.

Corporate Income

It’s possible that you’ll benefit from business income to support yourself financially in retirement. In tax optimization and financial planning for your retirement, we’ll analyze the different opportunities available to you, so that you can maximize each source of income.

There are a number of tax advantages to opting for dividend income rather than a fixed salary, both for tax purposes and for your retirement future. That’s why we’ll be able to carry out a detailed analysis of your situation and objectives to create a tailor-made strategy for a successful retirement.

The IPP

The Individual Pension Plan (IPP) can be a potentially powerful tool in your retirement planning, since it allows you to make larger contributions than with an RRSP, but is subject to a number of laws..

Depending on the situation, it may be more fiscally advantageous to proceed with an IPP than with an RRSP. A thorough analysis of your situation will enable us to establish the best choice to ensure a fabulous retirement.

Life Projects

When we retire, we dream of various life projects, such as traveling to fabulous countries, buying a dream home and land, buying a splendid car, etc. These dreams can have a significant financial impact. These dreams can have a significant financial impact, which is why it’s a good idea to anticipate these different life projects in advance, in your financial planning, to ensure that you can thrive and live the retirement of your dreams.

Financial Planning – Situation at Death

As an entrepreneur, it’s important to be prepared for anything. The aim of this analysis is to assess the legal, tax and financial impact of the death of a shareholder, and to measure the consequences on the general financial situation of the dependants. In this way, your business financial planner puts forward recommendations that will enable you to align your financial assets with your objectives.

Trust

A trust can be an excellent tool for protecting your assets and facilitating the transfer of your estate. Combined with other tools, it’s possible to create a customized, tax-optimized strategy to facilitate the transfer of wealth for an entrepreneur.

We’ll work with you to develop a financial planning strategy that’s tailored to your situation and objectives. Contact us to find out how a trust can help your situation.

Death of a Shareholder

In your financial planning, it’s crucial to anticipate various events, even the most tragic ones. That’s why it’s vital to have a clear and precise plan in place in the event of the death of a shareholder.

Several alternatives exist in this situation, enabling you to avoid complex and costly procedures and ensure the smooth continuity of your business.

Estate Planning

A clearly drafted will is crucial to your estate plan. When you own a business, it’s essential to consult a financial planner to develop a precise plan and strategy to ensure that the wealth you’ve worked to accumulate is distributed according to your wishes.

There are many strategies available to help you achieve your estate planning goals, including: wills, beneficiary designations, powers of attorney, insurance, trusts, tax planning, and much more.

That’s why we invite you to schedule a call with us to discuss your needs and objectives, and we’ll find the right approach for you.

Partnership Protection

Partnership protection enables shareholders to finance the purchase of a partner’s shares in the company in the event of death, long-term disability or serious illness.

Partnership protection is crucial to avoid lengthy complications in the event of a partner’s long-term absence.

Planning – Protection Status

Entrepreneurs tend to plan several moves ahead. Unfortunately, as an entrepreneur, you’re at risk from life’s unforeseen events. Serious illness, injury, disability, death and many others are a fact of life and impossible to plan for. Fortunately, it is possible to protect your business, your partners and your family to minimize the negative impact of these unforeseen events. This analysis will highlight the protection mechanisms available to you to offset the financial and legal consequences of prolonged disability or incapacity, and suggest solutions to bridge any negative gaps.

It’s better to be protected and not need it, than to need it and not be protected. Talking to a business financial planner counts!

Shared-Ownership Critical Illness Insurance

It’s possible to share critical illness coverage with a key person in the company, so you can be proactive and have protection in the event of a critical illness.

The company pays for the coverage and collects the benefits should anything happen to your key employee, while the key employee pays the return of premium guarantee, which he or she will receive if the coverage is not used within the guarantee period.

Let’s schedule a discussion to determine whether the strategy is right for your needs and objectives.

Long-Term Care

It’s easy to take our physical and mental health for granted, but without warning, illness and disability can strike. That’s why long-term care protection is an important choice, so you have an alternative to cover the medical costs that can quickly add up, and avoid compromising your retirement plan.

Shared Ownership Critical Illness Insurance

It’s possible to share critical illness coverage with a key person in the company, so you can be proactive and have protection in the event of a critical illness.

The company pays for the coverage and collects the benefits should anything happen to your key employee, while the key employee pays the return of premium guarantee, which he or she will receive if the coverage is not used within the guarantee period.

Let’s schedule a discussion to determine whether the strategy is right for your needs and objectives.

Critical Illnesses

Living with a critical illness can have major financial repercussions on a person’s life, and may require us to completely readapt our living environment.

It’s an important protection to plan for, to anticipate costly medical expenses, certain accessories and even changes to your living environment.

Shareholder Disability

This can complicate matters should one of your company’s shareholders become disabled.

The best precaution to avoid complications is shareholder disability coverage, which will provide fair and appropriate options in the event of a shareholder becoming disabled.

Disability can be both physical and mental, so it’s vital to be proactive and plan for the unexpected.

Corporate Disability

Don’t let illness or injury cause you to lose control of your business and the fruits of your labour.

Corporate disability protection ensures a steady monthly income to keep your business going during your absence, so you can continue to cover expenses. Whether it’s a physical or mental disability, it’s important to be proactive and have a plan in place should you need to take time off.

Shareholder or Partner Agreement

When setting up your company, it’s a good idea to consider drawing up a shareholders’ agreement, which sets out the rules, structure and various roles of shareholders within the company, as well as a specific plan should one or more shareholders no longer be able to fulfill their roles.

It’s important to anticipate every possible scenario that could arise, and to include a plan in your financial planning strategy should the time ever come when you wish to sell or buy back shares in the company.

Our Areas of Expertise

Discover PLANICO’s Financial Services

Personal or corporate financial planning? Insurance needs? Whatever your objectives, a global vision will enable us to build a strategy tailored to your needs. We serve customers in the Montreal, Laval, North Shore and South Shore regions.

Insurance

Finding the Right Coverage

Retirement

Start Planning for Your Future Today

Estate Planning

Safeguarding Your Life’s Legacy

Legal Aspects

Matrimonial Property and Assets

Fiscal Policy

Navigating Complex Taxation Laws

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