Steve Parr
Steve Parr
  • Видео 252
  • Просмотров 574 304
Big 2024 Canadian Tax Changes: Save Thousands or Pay More?
In this video, Steve breaks down the major tax changes proposed by the Canadian government for 2024. These changes could potentially lead to Canadians paying tens of thousands more in taxes over the next five years. However, there are also ways to save money amidst these changes.
Chapters:
00:00 Introduction
00:40 Capital Gains Changes
02:45 Entrepreneur Incentives
03:41 Example Savings
05:02 Alternative Minimum Tax (AMT) Changes
05:54 Conclusion
In this video, you will learn:
1) How the new capital gains inclusion rate affects your investments
2) The impact of these changes on estate taxes and inheritance
3) Specific changes for corporations and trusts
4) New incentives for entrepreneurs and how to ...
Просмотров: 220

Видео

Choosing the Best Business Structure: Tax Savings, Setup Ease, and Liability Explained
Просмотров 1962 месяца назад
Are you confused about which business structure is best for you? Learn everything you need to know about sole proprietorships, partnerships, corporations, and professional corporations. See which structure offers the most tax savings, easiest setup, and least personal liability. From tax deferral and income splitting to incorporation steps and liability protection, we've got you covered. 0:00 I...
Do Executors Even Get Paid?! Avoid Costly Mistakes in Estate Planning!
Просмотров 2033 месяца назад
Being an executor can be a daunting task, filled with legal responsibilities and potential pitfalls. Along with this, so many questions arise. How much does the executor of a will get paid? How long does it take to execute a will? What are the challenges of an executor? In this video, we break down the most common questions and issues you might face as an executor. Learn how to navigate compens...
What Does An Executor Do? What Are The Primary Duties Of An Executor Of A Will?
Просмотров 3763 месяца назад
Are you ready to become an executor but unsure where to start? Don't worry, we've got you covered! 💼 Dive into our essential guide and become the executor everyone trusts! What are the primary duties of an executor of a will? What are the main responsibilities of an executor of a will? What can an executor not do? What are the obligations of an executor? There are so many questions, and we're h...
The Secret to Saving $30,000 on Probate Fees!!! How to Minimize Estate Taxes?
Просмотров 1504 месяца назад
The Secret to Saving $30,000 on Probate Fees!!! How to Minimize Estate Taxes?
Retire Sooner: Essential Financial Strategies for High Earning Healthcare Professionals!
Просмотров 1535 месяцев назад
Retire Sooner: Essential Financial Strategies for High Earning Healthcare Professionals!
How I Built A Successful Law Firm Without Ever Working At One!
Просмотров 2377 месяцев назад
How I Built A Successful Law Firm Without Ever Working At One!
Unlocking Tax Secrets: Maximize Your Capital Gains Exemption in Canada!
Просмотров 44611 месяцев назад
Unlocking Tax Secrets: Maximize Your Capital Gains Exemption in Canada!
The TRUTH About Your Assets: PROTECT Your WEALTH!
Просмотров 214Год назад
The TRUTH About Your Assets: PROTECT Your WEALTH!
Start Your Business the RIGHT Way | Avoid These 5 Common Legal Mistakes Today!
Просмотров 123Год назад
Start Your Business the RIGHT Way | Avoid These 5 Common Legal Mistakes Today!
You're an Executor - Now What?!
Просмотров 49Год назад
You're an Executor - Now What?!
Your Company's Share Structure | A Step-by-Step Walkthrough to SUCCESS!
Просмотров 478Год назад
Your Company's Share Structure | A Step-by-Step Walkthrough to SUCCESS!
Incapacity Planning: Prepare for the Future and Protect Your Decision-Making
Просмотров 71Год назад
Incapacity Planning: Prepare for the Future and Protect Your Decision-Making
Insurance & Shareholders' Agreements with Marissa Elliot of Elsay Wealth
Просмотров 103Год назад
Insurance & Shareholders' Agreements with Marissa Elliot of Elsay Wealth
UNLOCK Business Wealth: Key Strategies for Owners!
Просмотров 283Год назад
UNLOCK Business Wealth: Key Strategies for Owners!
Deciphering Tax Implications: When a Shareholder Passes Away
Просмотров 127Год назад
Deciphering Tax Implications: When a Shareholder Passes Away
New 2024 Trust Tax Changes: How Bare Trusts Impact Real Estate & Tax Planning!
Просмотров 1,9 тыс.Год назад
New 2024 Trust Tax Changes: How Bare Trusts Impact Real Estate & Tax Planning!
MASTERING Retained Earnings: Surplus Strips & TAX-SAVING Secrets!
Просмотров 726Год назад
MASTERING Retained Earnings: Surplus Strips & TAX-SAVING Secrets!
Unlocking Income Splitting: AVOIDING TOSI Pitfalls & MAXIMIZING BENEFITS!
Просмотров 187Год назад
Unlocking Income Splitting: AVOIDING TOSI Pitfalls & MAXIMIZING BENEFITS!
Demystifying Family Trusts: Benefits, Drawbacks, & Tax Advantages!
Просмотров 1,6 тыс.Год назад
Demystifying Family Trusts: Benefits, Drawbacks, & Tax Advantages!
Unlocking Business Success: Dive into Shareholder Agreements with Mehul Gandhi!
Просмотров 251Год назад
Unlocking Business Success: Dive into Shareholder Agreements with Mehul Gandhi!
BRANDING MISTAKE 101: Trademark vs Incorporation - Which REALLY Protects You?
Просмотров 70Год назад
BRANDING MISTAKE 101: Trademark vs Incorporation - Which REALLY Protects You?
Do You REALLY Need a Trademark Agent? DIY vs Hiring Pros!
Просмотров 45Год назад
Do You REALLY Need a Trademark Agent? DIY vs Hiring Pros!
Trademark Registration: U.S. vs Canada - Do You Need Both?
Просмотров 362Год назад
Trademark Registration: U.S. vs Canada - Do You Need Both?
Your DREAM Business Name is TAKEN - NOW WHAT?!
Просмотров 75Год назад
Your DREAM Business Name is TAKEN - NOW WHAT?!
How to PROTECT & Enforce YOUR BRAND Using Trademarks!
Просмотров 70Год назад
How to PROTECT & Enforce YOUR BRAND Using Trademarks!
UNLOCKING the Secrets of Trademarks: How to Make Yours STAND OUT!
Просмотров 116Год назад
UNLOCKING the Secrets of Trademarks: How to Make Yours STAND OUT!
The SECRET to Strong Trademarks: What You NEED to Know!
Просмотров 27Год назад
The SECRET to Strong Trademarks: What You NEED to Know!
TRADEMARKS 101: How FAST Can You Get YOURS?
Просмотров 56Год назад
TRADEMARKS 101: How FAST Can You Get YOURS?
What is a Trademark? Unraveling the Brand SECRET!
Просмотров 77Год назад
What is a Trademark? Unraveling the Brand SECRET!

Комментарии

  • @DaddyDaddyOGDick
    @DaddyDaddyOGDick День назад

    I need your help please. I received a big inheritance from a late relative in Canada and I haven't been able to access it.

  • @NolanGrover
    @NolanGrover 3 дня назад

    Dude THANK YOU for the info and I love the content! ❤🙏 When I came to your RUclips account and clicked on your most recent short, I had to scroll to the first short you made where you mentioned probates. I think you should add a “PART 1” or “PART 7” to the caption/ description, it would be slightly easier to consume BUT still amazing content nonetheless. Keep up the great work!

  • @namelessshem6382
    @namelessshem6382 6 дней назад

    Speaking a language I don't comprehend 😂

  • @joanmu1053
    @joanmu1053 8 дней назад

    Thank you

  • @MadOldMan-ck5wq
    @MadOldMan-ck5wq 17 дней назад

    testing

  • @MadOldMan-ck5wq
    @MadOldMan-ck5wq 17 дней назад

    Is it True these are easy to forge so NICER is returning Legalese to defend vulnerable families from Financial Elder Abusers with the Latin Law Permission Validation Trust certified Crime Interdiction Administration?

  • @cookrileyw
    @cookrileyw 22 дня назад

    Intellectual property does not exist. Traded marks does serve a useful function because pretending to be some else or something else is fraud. While, creating a patient or copy right creates scarcity where there was none, ideas are fundamentally non competitive. Owning something that is infinity copyable is an absurdity and at a technical level really is an infrigment on the right of others to use his own physical property. A person ought to have the right to the full permutation set of his property ( assuming there is no evil being done with it). Make no mistake, I believe authors and creators ought to be supported, donated to or sponsored. But to treat them as demigods on high. While scientists and academics who add similar or superior value to society's repertoire of material gambits is an absurdity and morally incohesive.

  • @NorthernTrapper
    @NorthernTrapper 23 дня назад

    Informative video thanks.

  • @tristanblackwood1917
    @tristanblackwood1917 24 дня назад

    TFSA with a beneficiary designation too

  • @ericsingh2588
    @ericsingh2588 Месяц назад

    This is a nightmare do not ever do this or if you do this don’t use siblings to be in charge of a another siblings fund period

    • @parrbusinesslaw
      @parrbusinesslaw Месяц назад

      Management of funds for a family member can create conflict. Where that is a possibility but a trust is still needed for some of the purposes described here, consider appointing a professional trustee (e.g. a trust company such as Heritage Trust or trust companies operated by the Big 5 banks). Having an independent professional manage the trust can mitigate conflict.

  • @eloipecquet
    @eloipecquet Месяц назад

    In this scénario, is the 199$ considered capital gain or regular income ?

  • @exia78
    @exia78 Месяц назад

    Thanks. Really good information 👍.

  • @roxmedia445
    @roxmedia445 Месяц назад

    Steve great content

  • @shankare2286
    @shankare2286 2 месяца назад

    Thank you for making it simple to understand. I just have a doubt regarding the taxation part of the ESOPs. So you mentioned that they can be taxed when they are vested. And that depending on the rules the tax can also be filed at the time of selling the shares instead of the point in time when they were vested. But I guess, and think, and feel, unless the tax rate changes, the person is going to be paying the same amount of tax overall

  • @divyeshkumarbalar7732
    @divyeshkumarbalar7732 2 месяца назад

    Thanks for the quality content

  • @CVEIWKID
    @CVEIWKID 2 месяца назад

    You'll own nothing and be happy

  • @minalshah6777
    @minalshah6777 2 месяца назад

    Hi steve, very well explained. are there any specific compliances to be done when ESOP pool is created?? for a private corporation?? any filings needs to be done???

  • @kinrade12
    @kinrade12 2 месяца назад

    If you bought a property with silent investors but only you were on paper as the beneficial owner how could you update your documents to legally show your investors own their respective percentage of the property?

    • @parrbusinesslaw
      @parrbusinesslaw 2 месяца назад

      Hi there, that's a complicated question - if you're in BC, feel free to contact us. www.parrbusinesslaw.com

  • @patrickhebert5328
    @patrickhebert5328 2 месяца назад

    Very informative and to the point. Well done.

  • @Ehtizan-Editor-002
    @Ehtizan-Editor-002 3 месяца назад

    Hey Steve, I just watched your video and I must say that it was really informative and well-made. I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel

  • @HotWins247
    @HotWins247 3 месяца назад

    I have a wife, but can I put my girlfriend in the family trust instead?

    • @MadOldMan-ck5wq
      @MadOldMan-ck5wq 17 дней назад

      You're the boss yes and may you rest in peace!

  • @russellgray3303
    @russellgray3303 3 месяца назад

    I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!

    • @parrbusinesslaw
      @parrbusinesslaw 3 месяца назад

      Glad you liked it! Stay tuned for new videos!

  • @wackyl5692
    @wackyl5692 3 месяца назад

    How long do they have to do so??

  • @wackyl5692
    @wackyl5692 3 месяца назад

    What if your executrix is stone walking you and refuses to answer your communication and has not sent me a notice of ANYTHING happening?! Is there some rule that they are not allowed to have communication with the only beneficiary Do I contact them at their home or workplace or get a lawyer?

    • @steveparr5580
      @steveparr5580 3 месяца назад

      Definitely contact an estates lawyer. Every situation is quite unique. It would be helpful for you to get advice on your specific situation by an experienced estates lawyer in your jurisdiction.

  • @tristanblackwood1917
    @tristanblackwood1917 3 месяца назад

    TFSA with a named beneficiary also bypasses probate.

  • @DWELskateboards
    @DWELskateboards 3 месяца назад

    How fo we find people who can do these things ?

    • @parrbusinesslaw
      @parrbusinesslaw 3 месяца назад

      Hey there, if you are in Canada we can help you, you just need to fill out this form: www.parrbusinesslaw.com/contact

  • @HengRang-hv3he
    @HengRang-hv3he 3 месяца назад

    Human Resources People from all walks of life not only call Trinity home, but choose to work at our campuses across the country. With locations in Deerfield, California, Wisconsin, and Florida, we are strategically positioned to educate men and women to engage in God’s redemptive work in the world by cultivating academic excellence, Christian faithfulness, and lifelong learning. Take a look at our current Faculty and Staff openings. If one strikes your interest, we would love to hear from you. Trinity offers competitive wage and benefits packages, as well as a great Christian work environment. Trinity International University is a private, not-for-profit university affiliated with the Evangelical Free Church of America (EFCA). Trinity is committed to compliance with all applicable federal and state nondiscrimination regulations. As a private religious institution, Trinity reserves the right to exercise preference on the basis of religion in all employment decisions. Women and minority candidates are encouraged to apply. Faculty and staff of Trinity International University affirm the Statement of Faith of the EFCA. If you have any questions, contact the Human Resources office via email at hr@tiu.edu. FACULTY & STAFF OPENINGS Information for Employers Trinity students and alumni exemplify intelligence, integrity, and initiative. We have a reputation for producing graduates with strong leadership and academic success and our students and alumni are in high demand at local, national, and international businesses and organizations. Our graduates are prepared for a quick transition into the corporate world. We do this by helping them build a strong base of knowledge while providing valuable practical experience. TIU graduates quickly establish themselves as dependable team players dedicated to high productivity and excellence. Bottom line: Trinity employees hit the ground running! As a member of the Illinois Small College Placement Association (ISCPA), our office allows you personal care through direct contact with our staff as well as the potential of connecting with all 60,000 students within our consortium network. If you are looking to hire a Trinity student for full-time or part-time employment, including babysitting, please contact us! POST A JOB OPENING TIU Logo 2065 Half Day Road, Deerfield, IL 60015 800.822.3225 facebook-icon twitter-icon youtube-icon SCHOOLS Trinity International University Trinity Evangelical Divinity School Trinity Law School TIU-Online RESOURCES Privacy Policy Title IV Disclosures Employment Contact Us Title IX Catalog OTHER LINKS myTIU Canvas Law School Student Portal Academic Centers

  • @robertbridgen2950
    @robertbridgen2950 4 месяца назад

    How about Principal Residence Exemption on death and the home is left to my family.

    • @parrbusinesslaw
      @parrbusinesslaw 4 месяца назад

      This is not advice for your situation, but hypothetically if the property qualified for the PRE at death of the property owner, then the Estate doesn't pay capital gains tax (nor do the beneficiaries of the home). It's a tax-free disposition. Contact us for guidance on your specific situation www.parrbusinesslaw.com/contact

  • @Wasnt-1
    @Wasnt-1 4 месяца назад

    also preferred stocks is better if a company pays dividends as you can set a fixed dividend per share even if the stock goes down the only downside is if the stock goes up you're not be able to gain the increase in dividend payment

  • @jamessteers
    @jamessteers 4 месяца назад

    Not really true. My employees pay haven't suffered in this economy. My profit as the owner has been cut 70%. But I will always put there needs above my own.

  • @JackWard66
    @JackWard66 4 месяца назад

    Thanks so much Steve. Here are my confusions and apologies as I've never done this before. 1. I sold my home in September and moved briefly into a cabin for two months until I bought my current home in November. 2. Do I register both? Where do I put them in my forms? 3. What are they expecting me to put down? Address and final sale price and date? Thanks in advance!

    • @parrbusinesslaw
      @parrbusinesslaw 4 месяца назад

      Thanks for your inquiry! Your specific questions require advice; please ask your accountant.

  • @mathinabeevi5993
    @mathinabeevi5993 4 месяца назад

    Please help me

    • @parrbusinesslaw
      @parrbusinesslaw 4 месяца назад

      Hi there, please fill out this form and we will reach out to you: www.parrbusinesslaw.com/contact

  • @lpearcey2881
    @lpearcey2881 4 месяца назад

    You know America does this too right? They just use a third party the IRS which also has to be paid for.

  • @sirloin869
    @sirloin869 4 месяца назад

    fake, and gaye...

  • @sirloin869
    @sirloin869 4 месяца назад

    fake, and gaye...

  • @MadOldMan-ck5wq
    @MadOldMan-ck5wq 4 месяца назад

    This old man says the truth is Fiduciary Security Allied Legal Professionals Permission Ledger Interdiction Living Trust Prebate Probate Nickel or Dime alternative to DIY litigation Quarter avoids the Inheritance administration crime.

  • @MadOldMan-ck5wq
    @MadOldMan-ck5wq 4 месяца назад

    Congratulations consider being a forgery proof permission ledger validation Trust Lawyer they earn 850% more than estate planners with the Prebate Probate Nickel or Dime solution to DIY litigation Quarter.

  • @L1Ght_67
    @L1Ght_67 5 месяцев назад

    Sounds like they just renamed the tax 🤔

    • @parrbusinesslaw
      @parrbusinesslaw 5 месяцев назад

      Yes more or less. Tax at death is the "biggest tax event" of any individual's life. Basically CRA's last kick at the can to get what they can.

  • @melissalaverdure6687
    @melissalaverdure6687 5 месяцев назад

    If you register federally, do you also need to register provincially?

    • @parrbusinesslaw
      @parrbusinesslaw 5 месяцев назад

      If you register federally, you need to register in any province that you are carrying on business in. Contact us here for more info: www.parrbusinesslaw.com/contact

  • @donniethesportsguy893
    @donniethesportsguy893 5 месяцев назад

    Can you explain what the expiration date? Like if you let the expiration date pass you could forfeit or cash out if you do it in before expiration date?

    • @parrbusinesslaw
      @parrbusinesslaw 5 месяцев назад

      Look carefully at the language in YOUR agreement, as it will always vary. But in this example, yes I am referring to the expiration of the ability to exercise on the options (e.g. convert the options into shares). In many agreements the expiry period will be somewhere between 7 - 10 years after issuance. Contact us at www.parrbusinesslaw.com/contact for more information!

  • @ss56830
    @ss56830 5 месяцев назад

    Can you do it from the employee point of view? i.e. what should you look out for in the T&Cs, how do you know if it's a good plan? What happens once you've decided you want to exercise your options? what happens if you leave before the vesting period is over etc.

    • @parrbusinesslaw
      @parrbusinesslaw 5 месяцев назад

      Things that an employee would want in an options agreement: - Proper legal documents, not a mickey mouse agreement or a verbal commitment; - A strike price that reflects current FMV of Company shares; - Ability to retain vested shares whether or not the employee is terminated or quits; - Acceleration of vesting upon change of control (e.g. Company is acquired); - In a closely held (e.g. a small private or family run) company, you should also review the shareholders' agreement and understand whether or not you are required to sign onto it. A Shareholders' Agreement may further bind / restrict your ability to sell the shares, and may also impose other obligations on you (e.g. confidentiality provisions, non-competes, etc.).

  • @HopeProphecy
    @HopeProphecy 5 месяцев назад

    How would I pay myself if I worked for an operating single-member LLC owned by a single member Wyoming Holding LLC? (I am the owner of both and directly work for the operating LLC.) I am wanting to be taxed as an S-Corp (and be able to received distributions), and also have the asset protection of the Holding Company. Would the operating LLC be disregarded and the Holding LLC the S-Corp? Thanks!

    • @parrbusinesslaw
      @parrbusinesslaw 5 месяцев назад

      Thank you for reaching out with your question! It's great to see you're thinking strategically about the structure of your businesses. However, it's important to note that we are Canadian-based lawyers and our expertise is primarily in Canadian law. The specifics of forming and operating LLCs and S-Corps, especially in the U.S. and states like Wyoming, can be quite different from Canadian business structures. For your situation, it's best to consult with a U.S.-based legal professional.

  • @Incognito-fe8cw
    @Incognito-fe8cw 5 месяцев назад

    This money grabbing policy probably shortened my life by 5 yrs due to all the stress and research it has caused for me !

  • @user-kc1gj7xm8c
    @user-kc1gj7xm8c 5 месяцев назад

    What do you mean by assignments?

  • @heathcliffgrassie7312
    @heathcliffgrassie7312 5 месяцев назад

    promo sm

  • @lunamorris2091
    @lunamorris2091 5 месяцев назад

    It is a great video thanks for the great information and well delivered. This is exactly what I was looking for.

    • @parrbusinesslaw
      @parrbusinesslaw 5 месяцев назад

      Glad you liked it, stay tuned for more!

  • @favazashraf
    @favazashraf 5 месяцев назад

    Perfectly explained ❤

    • @parrbusinesslaw
      @parrbusinesslaw 5 месяцев назад

      Glad you liked it! Stay tuned for more.

  • @zalenemail
    @zalenemail 5 месяцев назад

    Hi Steve, after Federal registration, do you need to register provincial in BC?

    • @parrbusinesslaw
      @parrbusinesslaw 5 месяцев назад

      If you’re doing business in BC yes. Contact us for more info: www.parrbusinesslaw.com/contact

  • @jasong6967
    @jasong6967 6 месяцев назад

    What does that mean? It doesn’t go to the beneficiary??! Interesting

    • @parrbusinesslaw
      @parrbusinesslaw 6 месяцев назад

      No. A "deemed disposition" is just the basis for how the property is taxed. The property will still be gifted per the terms of the Will to the beneficiary / beneficiaries. I'll make another video and try to clarify this. This short clip is just meant to highlight the tax treatment of property at death.

  • @Marina-rt6ok
    @Marina-rt6ok 6 месяцев назад

    Can you help me. Plz Me and my hasbend have smol building. We take care and all incom we put in our tax. But in the title of ownership we put our son and our dother. What we and hu shud report this . Sorry for my english.

    • @parrbusinesslaw
      @parrbusinesslaw 6 месяцев назад

      Hi there, please contact a knowledgable lawyer where you reside! If you are located in Vancouver or nearby, then please complete this contact form: www.parrbusinesslaw.com/contact