What successful businesswomen know about start-ups
Many women dream of starting their own business. And there are plenty of advantages. First, you are your own boss, and in control of your own destiny. Then, you get to produce that product or service that no one can do as well as you. You get the satisfaction of seeing your business grow. And there are plenty of tax advantages, too, including lucrative deductions, credits, writeoffs, and income-splitting opportunities. READ MORE
Individual Pension Plans a tax-efficient retirement savings tool
Given the current effort by the federal government to clamp down on some of the income “splitting and sprinkling” tax benefits of Canadian-Controlled Private Corporations (CCPCs), there’s definitely a lot of uncertainty among executives, business owners, and professionals about the tax benefits of incorporation. But one item remains untouched (so far): the Individual Pension Plan (IPP) is still an excellent way to considerably boost your retirement nest-egg if you own a CCPC. READ MORE
Calculating your critical illness and disability insurance needs
Congratulations! You’re a successful businessperson. You’ve finally achieved that magical HNW designation – that’s “high net worth.” You’re a busy professional, executive, or business owner, and you’re on the go all the time. You don’t have time to take a day off – let alone get sick. And yet, critical illness and short-term disabilities do happen. Obviously, you can’t predict those, but fortunately, you can protect yourself, your family, your home, and your business against the potentially disastrous financial consequences. READ MORE
Oprah Winfrey is worth a cool US$2.9 billion. That, according to Forbes magazine, puts her at number 181 of the 400 richest people in America. Not bad for a self-made small-town girl who started with nothing. There are other women on the rich list, too. And some are very near the top indeed: Christy Walton of retailer Wal-Mart fame is at sixth spot (US$35.5 billion); Jacqueline Mars of confectioner Mars Inc. is at eighth (US$20.5 billion), Abigail Johnson of Fidelity Investments at 23rd (US$17.2 billion); Anne Cox Chambers of Cox Media at 29th (US$13.2 billion). The list goes on. Whether they’re self made or whether they inherited a business and made it bigger, all these enterprising women have one thing in common: Their big businesses were once small businesses.