Certificate Course

Tax Planning for Corporate Owner-Managers

Program

MFA-Business Services Specialist™

Overview

This course has been designed to teach you how to advise private business owners and managers about the best ways to manage his or her compensation to maximize the amount of after-tax income available. You will gain a solid understanding of the options available when constructing compensation packages. These options include salary-dividend-bonus mixes that maximize tax efficiencies for the owner and each family member. As well you'll learn about constraints imposed by income tax and other laws so you can provide sound advice to the employer or client on compensation planning all year long.

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Opportunity

As a result of recent corporate tax rate changes and adjustments to the taxation of dividends, one of the key issues faced by the owner-manager of a private business is how to best manage his or her compensation to maximize the amount of after-tax income available to the family. You will equip yourself with a broad understanding of the tax changes as well as the compensation planning options available for the family business and its family members. You'll use your knowledge to implement Real Wealth Management™ strategies to help families accumulate, grow, preserve and transition their wealth over time with proper retirement investment plans.

What You'll Learn

You will learn to define the components of compensation, including salary, dividends, and bonuses, their tax attributes and the opportunities and/or constraints imposed by recent income tax. You'll acquire the knowledge and skills required to provide advice throughout the year with a view to minimizing the total amount of income taxes paid by the family. You'll also become knowledgeable about recent personal and corporate tax changes by using true-to-life case studies.

What’s Included

• Personal course selection consultation
• Virtual campus orientation
• Lesson and study plans
• Personal instructor email support
• Comprehensive Knowledge Journal
• EverGreen Online Research Library
• Knowledge Bureau calculators
• Testing and certification
• CE/CPD accreditation

Student Experience

As a general practitioner, I don't always come across the full spectrum of client needs, so I need ongoing education to make sure I can identify client solutions at a higher level of technical proficiency as they arise. This course met these requirements. There is a great deal of new information in the course. I like the way the courses are grouped into topics that can easily be put into practice. The information is applicable to the client market I am attracting. The format of the comprehensive testing is perfect for a busy professional, the EverGreen Explanatory Notes were excellent, and student support was very personal and responsive.

—Laura F. T., ON

Course Content

Chapter 1 | The Taxation of Business Income and Its Integration in Personal Taxation
Chapter 2 | Understanding Family Compensation Requirements
Chapter 3 | Income Tax Treatment of Salary
Chapter 4: | Income Tax Treatment of Dividends
Chapter 5 | Other Compensation Issues: Benefits, Shareholder Loans
Chapter 6 | Income Splitting, Kiddie Tax, Tax on Split Income
Chapter 7 | Basic Issues in Using a Holding Company or Trust
Chapter 8 | Registered Deferred Income Plans
Chapter 9 | Unregistered Deferred Income Plans
Chapter 10 | Planning Pitfalls: the Capital Gains Deduction, CNIL, ABIL's

Marking Guide

Quizzes
50%
Case Studies
25%
Final Exam
25%
Passing Grade
60%
Honours Achievement
90%


All students who pass the course will receive a certificate. Students who receive a mark of 90% or better will receive a gold honours bar on their certificates.

CE | CPD Credits

Knowledge Bureau | 30 CPE credits

Most regulators and associations accept Knowledge Bureau certificate courses for continuing education credits.

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