INCOME TAX AND ESTATE PLANNING

There are a number of ways that income taxes can be minimized when selling your company. For example, the life time capital gains exemption of $750,000 can be crystallized and often other family members can enjoy the full exemption too – careful planning is required. Holding companies can be used to defer taxes and also protect against creditors. Individual pension plans (IPP) can be used to maximize tax sheltered retirement assets.