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Category: Business Owners

Get Your Corporate Dollars Doing Double Duty

April 1, 2022blog, Business Owners, corporateDenis Bugeja

Owners of very successful private corporations are well aware of the importance of cash flow. Many are protective of how they allocate corporate capital so that business ventures are adequately funded and investment opportunities are not missed.

The Immediate Financing Arrangement offers an opportunity to provide life insurance coverage and accumulate wealth on a tax-advantaged basis without impairing corporate cash flow.

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Disability Insurance and Small Business: How a Small Business Owner Used Disability Insurance to Stay Afloat While Managing Depression

May 3, 2021blog, Business Owners, corporate, disability, Disability Insurance, FamilyDenis Bugeja

Sandra ran her own successful insurance agency company for over a decade before it hit her like a ton of bricks – she was chronically depressed and something had to change.

Triggered by a combination of constant stress leading to severe burnout and her 12-year-old son’s recent diagnosis with Type 1 diabetes, Sandra needed some time away from the office to recover and receive treatment. Her depression was absolutely debilitating and could have been devastating to her business and income.

Luckily, Sandra, whose name has been changed to protect her privacy, had purchased two disability insurance policies eight years prior that would help her through such a turbulent time. Sandra worked in the insurance industry and had seen just how important it was to protect yourself from a loss of income in case of a debilitating illness or disease.

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5 Top Financial Planning Strategies For Small Business Owners

January 31, 2021blog, Business Owners, Debt, TaxDenis Bugeja

Creating a financial plan for your business is critical not only for your business’ survival but also for its growth. However, many small business owners struggle to create a comprehensive financial plan that considers all of the financial needs of the business – which should include long term growth goals and contingency plans for any unexpected circumstances. Below, we have compiled a list of the strategies business owners should start with when considering a comprehensive financial plan.

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Government of Canada to allow up to $400 for home office expenses

December 29, 20202020, Accountants, blog, Business Owners, TaxDenis Bugeja

For the 2020 tax year, the Government of Canada introduced a temporary flat rate method to allow Canadians working from home this year due to Covid-19 to claim expenses of up to $400.

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Canada Emergency Wage Subsidy expanded to include more businesses!

July 17, 2020blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateDenis Bugeja

On July 17th, Finance Minister Bill Morneau announced proposed changes to the Canada Emergency Wage Subsidy (CEWS) that will expand the number of businesses that qualify for the program.

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Canada Emergency Wage Subsidy extended into December!

July 13, 2020blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateDenis Bugeja

On July 13th, Prime Minister Justin Trudeau announced the extension of the Canada Emergency Wage Subsidy (CEWS) until December.

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CERB Extended | Business Owners who did not qualify previously – expanded CEBA starts June 19th

June 17, 20202020 Only, blog, Business Owners, Coronavirus, Coronavirus - Associates, Coronavirus - Practice Owners, Coronavirus - Students, corporate, IndividualsDenis Bugeja

Great news for Canadians out of work and looking for work. The CERB will be extended another 8 weeks for a total of up to 24 weeks.

The expanded CEBA will begin June 19th.

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The Need for Corporate Life Insurance

June 1, 2020blog, Business Owners, buy sell, corporate, Estate Planning, Life InsuranceDenis Bugeja

Life insurance is used for two general purposes in a private corporation – managing risk and creating opportunities. The risk management function is satisfied as life insurance provides the corporation with a tax-free payment in the event of the death of an owner or someone vital to the success of the business. As life insurance also allows for the tax-sheltered build up of cash value additional planning opportunities are additionally created.

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Small Businesses! Applications for Canada Emergency Commercial Rent Assistance starts May 25th

May 24, 20202020 Only, blog, Business Owners, Coronavirus, Coronavirus - Practice Owners, corporateDenis Bugeja

The Application portal for the Canada Emergency Commercial Rent Assistance (CECRA) opens at 8:00am EST on May 25th

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Expanded eligibility for CEBA $40,000 interest-free loan

May 19, 20202020 Only, blog, Business Owners, Coronavirus, Coronavirus - Practice OwnersDenis Bugeja

The Prime Minister outlined the expanded eligibility for the Canada Emergency Business Account and highlighted companies such as hair salon owners, independent gym owners with contracted trainers and local physio businesses will now be eligible.

“If you are the sole owner-operator of a business, if your business relies on contractors, or if you have a family-owned business and you pay employees through dividends, you will now qualify.” – PM Justin Trudeau

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Contact Us

DPB Insurance and Financial Services

305 Lakeshore Road E, Suite 3
Oakville, ON
L6J 1J3
Phone: 905.829.3019
Toll free: 1.866.811.2711
Fax: 905.829.3088
Email: denis@dpbinsurance.com

Recent Articles

  • Is it Time for Your Insurance Audit?
  • Estate Planning for Blended Families
  • A Lifetime Gift for Your Grandchildren The Cascading Life Insurance Strategy
  • 1 in 3 Canadians Will Become Disabled Before the Age of 65
  • Get Your Corporate Dollars Doing Double Duty

About

Established in 1992, our boutique style company is based on the relationships we form with you-our clients. With your input, we can create your very own customized products. Insurance can be a very daunting task, that’s why we work on your behalf to find the best insurance plan and financial options. At DPB we believe that our success lies in meeting and anticipating our clients’ needs while providing financial security and peace of mind in knowing that no matter what happens, you and your loved ones will be taken care of.
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