How To Decide If You Need A Holding Company Or An Operating Company?
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- Опубликовано: 15 окт 2024
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⭐⭐ How To Decide If You Need A Holding Company Or An Operating Company?
There are a lot of things to think about when starting a business and owning a business.
Should you have an operating company or a holding company ?
What’s the difference ?
What are the pros and cons ?
In this video, I’ll break it down for you and help you decide what’s best for your business.
You’re definitely in the RIGHT place if you’re looking to understand how to create an investment portfolio or a "bullet proof plan” in order to protect you and your family, generate an income stream in retirement, and ensure that your money outlives you. We can help you maximize your estate value for your beneficiaries and minimize how much your estate pays to the government.
Rob Tetrault is a multi award-winning Portfolio Manager and head of the Tetrault Wealth Advisory Group at CG Wealth Management. After graduating from the University of Toronto Law School, Rob initially
worked as an insurance litigation specialist at MLT Aikins in Winnipeg.
He then completed a Finance MBA and was a member of the Dean’s list at the Asper School of Business, before starting his Wealth Management Practice in 2010.
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Great and very informative video, Rob. I had a question. As for LCGE, I thought its only available to the individuals. So if your Opco is owned by the Holdco and when you sell your Opco its the Holdco selling the company. How then can Holdco avail the LCGE? Thanks again!
Thanks for watching! It really depends on the whole structure, but likely in this scenario the individual would sell the shares of their holdco to qualify for the LCGE. Certainly this can be more complex and there are many variables to consider. We certainly work with our clients and their tax professionals to ensure their corporation is properly positioned for a sale.
Thank you for the video.
I opened a holding company last year to start flipping houses. But my partner decided to leave, and I got a new business partner, and we decided to do remodeling for now. I couldn't afford my lawyer anymore, and my accountant renewed the companies for us.
I am a little bit confused.
Do I need a lawyer to continue working with my holding company ? Is it OK having a construction company as a child company?
Interesting question and we would encourage you to check with your accountant on this structure to make sure everything is properly in place.
Often lawyers are involved with share structure changes and ensuring all annual corporate filings are completed.
What do you mean at the end when you mentioned not going over 50k of passive income? Can you explain please.. im not fully grasping that..
If you own a small business in Canada and it earns passive income (like interest, dividends, or rental income), you may be affected by a tax rule that limits access to the small business tax rate on your active business income.
The small business tax rate is generally lower than the general corporate tax rate, so it's beneficial for small businesses to access it.
The rule sets a threshold of $50,000 of passive income per year. If your small business earns more than $50,000 of passive income in a year, the amount of active business income that can be taxed at the small business tax rate will be reduced by $5 for every $1 over the $50,000 threshold.
For example, if your small business earns $60,000 of passive income in a year, the small business tax rate threshold for the following year will be reduced by $50,000 + ($10,000 x $5) = $100,000. Any active business income above that threshold will be taxed at the higher general corporate tax rate.
I hope this helps!
Thanks Rob. Looking at a Canadian HoldCo and OpCo structure. Timely info,
Glad you enjoyed the video. Happy to help if you have any questions. www.speaktorob.com
I have a portfolio of digital assets with a broker under my personal name for now. If I create a Holdco to hold digital asset, can I loan out against those assets to an OpCo to purchase real estate rental property in Mexico ? What are your thoughts on creating an LLC in US to do the same ?
Thanks for watching! I would suggest contacting your broker and lender for advice specific to your situation. We are unable to provide you with advice on this here.
Hi Rob! Is it at all possible to have a phone call? Or an email conversation to explain my small situation and hesr your opinion?
Absolutely! Click here -> robtetrault.com/speak-to-rob/ to book a no-obligation consultation! Looking forward to speaking with you.
Do holding companies required to report financials like balance sheet on annual basis ?How can one confirm solvency of HOLDCO?
Great question and likely one that you should confirm with an accountant. Having said that, here are some thoughts. Holding Companies are corporations, which are registered tax filers and are required to file tax returns, which should include a summary of assets/liabilities (aka balance sheet). As for solvency, that could potentially be determined from the annual filings. Please note this is not intended for tax advice nor to replace the advice of a qualified tax professional.
I would love to hear more about double holding company structure! 🙏📿
Sure. Videos are coming up soon. Remember to subscribe and turn on the video notifications!!