Ep 16: Live at IAFP 2024

Ep 16: Live at IAFP 2024

From The Money Scope Podcast by Benjamin Felix & Dr. Mark Soth

November 8, 2024 · 39 min · Episode 16

About this episode

The episode discusses key financial planning issues for incorporated business owners, recorded live at a financial planning conference.

Today's episode comes to you live from the 22nd Institute for Advanced Financial (IAFP) Planning Conference in Gatineau, Quebec, recorded in front of an audience of professional financial planners. For this special episode, we cover key planning issues for incorporated business owners and walk through the lifecycle of a business owner or professional who eventually chooses to incorporate. We discuss crucial financial decisions they face along the way, particularly as corporate assets begin to grow, and wrap up with a Q&A covering topics like tax brackets, salary offsets, and more. Our conversation also tackles common misconceptions and explains strategies for income smoothing, tax deferral, and managing 'corporate bloat.' With today's conference theme inspired by Star Wars, expect plenty of niche references along the way! Key Points From This Episode: (0:00:17) Introducing the topics that will be covered in today's special live episode at the 22nd Institute for Advanced Financial Planning Conference in Gatineau, Quebec. (0:03:57) Guidelines and benefits of becoming incorporated, including income smoothing. (0:06:49) Advice for navigating taxes when becoming incorporated…

People in this episode

Hosts: Benjamin Felix, Dr. Mark Soth

Topics covered

  • financial planning
  • incorporation
  • tax strategies
  • business lifecycle
  • income smoothing
  • corporate assets

Keywords

  • financial planners
  • tax brackets
  • salary offsets
  • tax deferral
  • corporate bloat
  • income smoothing

Mentioned in this episode

Organizations: Institute for Advanced Financial Planning Conference

Places: Gatineau

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