By Matthew Chiang Advisor, CAPCORP Financial For a small business, the passing of an owner or key employee can threaten the organization’s very existence. Life insurance can help small businesses guard against the impact of unexpected tragedies, through mechanisms such as Split Dollar Arrangements, Key Person Insurance, Funding Capital Gains Tax on a Business at […]
Use HealthPlus and make them a business expense! As a business owner the cost of health and dental coverage can be costly and these expenses can add up quickly. Consider new glasses, contact lenses or even Lasik surgery for your eyes. Throw in some braces for your kids, and before you know it you’ve accumulated over $5000.00 of receipts. […]
HealthPlus is a Private Health Services Plan. Used by thousands of small business owners across Canada, a PHSP enables the business to deduct 100% of the family’s health and dental expenses incurred by themselves and their employees as a business expense.
This means hundreds or thousands of dollars will be added to the tax bill of all Canadians covered by their employer’s benefit plan. This added tax cost will inevitably lead to less Canadians having the coverage they need.