Getting A Round Tuit

Episode 13-What Successful Families Do Differently

iwminc — Thu, 14 Dec 2017 22:06:49 +0000

How do wealthy families plan for the future? In this week’s episode, the last in our series on redefining family wealth, we’ll explore the steps they take, and how their process is different from typical tax and estate planning. We’ll discuss the foundational values and guiding principles they use to create their family culture and mission statement. The most successful business families surround themselves with a trusted team who will work together to address both the technical and emotional sides of estate and legacy planning.

Episode 12-Defining Wealth in a Family Business

iwminc — Fri, 01 Dec 2017 15:29:32 +0000

How does your family define wealth? In this week’s episode, we look at aspects of family wealth that are often overlooked. We continue our conversation with Vincent Valeri of Vedaera, and take a deeper look at the various types of capital that are embedded in a family business. Defining the culture of a family business is an integral part of transition and continuity planning.

Episode 11- The Current Status of Tax Reform Changes for Canadian Business

iwminc — Thu, 16 Nov 2017 14:17:11 +0000

In July of this year, the Liberal government proposed a number of tax reform changes that would have significant impact on the small business community in Canada. During the 75 day consultation period, we hosted a panel discussion regarding these changes on our podcast. In this episode, I’ve invited one of our panelists, Bryan Walters of MNP to join me for a review and update regarding these changes.

Episode 10- Small Business Week Spotlight

iwminc — Thu, 19 Oct 2017 17:01:30 +0000

It takes an idea and a lot of courage to enter the world of small business. Melissa Hyslop of Malarkey Kids, creator of the Munch Mitt, sits down with us to tell her story. She shares both the challenges and triumphs of being an entrepreneur, and what the future holds for her.

Episode 9- Starting the More than Money Conversation in a Family Business

iwminc — Wed, 11 Oct 2017 20:33:41 +0000

We’re going to continue exploring the impending tsunami of family business wealth transfer in Canada, focusing this week’s episode on starting the conversation surrounding transition and continuity.

Episode 8-Developing A Family First Mindset in Business

iwminc — Thu, 05 Oct 2017 19:29:04 +0000

Over the last few months, small business has been thrust into the spotlight. Many of the tax changes that are being proposed by the federal government will have a direct impact on how family businesses plan for the future, and the eventual transition of their business. Globally, we are on the cusp of the largest intergenerational wealth transfer that has ever taken place. Over the next 15 years, the Boomers are set to enter retirement. This event will have a tremendous impact on the scope of business, both financially as well as the emotional factors that will come into play.

Episode 7- What the Proposed Federal Tax Changes Mean to Small Business in Canada

iwminc — Fri, 08 Sep 2017 03:13:25 +0000

This week’s episode deals with the proposed changes to income tax that will directly affect small business in Canada. The Finance Minister unveiled these changes at a press conference on July 18, 2017. There is currently a 75 day review period in place where submissions can be made. At IWM, our focus is on helping business owners protect the wealth their business creates. We’ve invited experts from both the legal and accounting sector, and the Federal Director of the Canadian Taxpayers Federation to weigh in on how these changes will directly impact business and incorporated professionals.

Episode 6-Building a Strong Foundation

iwminc — Fri, 25 Aug 2017 17:29:57 +0000

A building’s foundation is the insfrastructure, although possibly invisible to the eye, that determines how stable and steadfast it will be.

Different construction projects require their own unique foundation, specific to the structure constructed. Privately owned and operated businesses need their own unique underpinnings to keep the enterprise strong and viable for the long term. Join our conversation this week with a local constractor who explains the basis of foundations, and Phil compares the framework to a variety of businesses.

Episode 5- What’s the Difference? Active vs. Passive Business Income

iwminc — Tue, 04 Jul 2017 16:19:07 +0000

As businesses mature and succeed, decisions need to be made regarding the most effective way to grow the wealth that is accumulating in the corporation. This week Phil discusses the difference between active and passive business income, and how they are impacted by corporate and personal tax rates.

Episode 4-Getting Sale Ready

iwminc — Thu, 15 Jun 2017 17:35:24 +0000

Are all your ducks in a row? Hear what three local business experts share about getting your business ready for sale from their unique perspectives.

Episode 3- Highwires and Safety Nets

iwminc — Thu, 18 May 2017 18:06:17 +0000

In this week’s episode, Phil decides to run away and join the circus! Not entirely true, but any entrepreneur will tell you that running a business can often feel like an acrobat on a highwire. We’ll explore the challenges that can cause you to lose your footing, and how to protect yourself if you fall.

Episode 2-Six Key Steps to a better Financial Advisory Relationship

iwminc — Thu, 06 Apr 2017 17:21:29 +0000

Welcome to this edition of our podcast, where we’re going to talk about 6 questions to help you, as a business owner, select a financial advisory relationship.

So we can start with why, asking the question

Why is it so challenging to find a financial advisor that’s a fit for you, the owner operator of a small to medium enterprise?

Getting a Round Tuit-Introductory Episode

iwminc — Thu, 16 Mar 2017 15:34:57 +0000

Welcome to the introductory episode of our podcast series, “Getting a Round Tuit, Advanced Financial Planning for Business Owners”. This podcast will focus on addressing the questions around planning that are common to entrepreneurs operating an owner managed business.