Tax Talk Podcast
A monthly podcast with a wide range of guests focused on helping Canadian small business owners make decisions surrounding incorporation, growing their business efficiently, and implementing successful succession, estate planning & tax planning strategies.
Tax Talk Podcast
Successful Succession Planning | Stephen van Santen | EP 036
According to recent statistics, nearly 70% of business owners do not have a succession plan in place.
Additionally, over $2 trillion in business assets could change hands over the next decade in Canada.
On episode #36 of the Tax Talk Podcast, Jared sits down with Stephen van Santen of Bridgeline Wealth Strategies to discuss the importance of having a succession plan in place.
Some of the topics discussed are as follows:
- when should succession planning be discussed
- what critical documents are needed to move the discussion along
- do you know the value of your farm/business
- what is the right legal structure for transferring the farm/business
- how will control of the farm/business change
- what are the income expectations of the retiring owners
- how will these retirement needs be met
#tax #estate #retirement #successionplanning #cpa #reddeer #alberta #canada #didsbury #trochu #farming #business #assets #investments
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The information, services and/or products are for general information only and any reliance on the information provided therein is done at your own risk. If you make tax, accounting, investing or legal decisions after accessing this website, blog or podcast, it is recommended that you consult a qualified professional first.
The views and opinions expressed are those of the author, seller, guests or publisher and do not necessarily reflect the views of the organizations or businesses that these individuals are associated with.
Although we make strong efforts to make sure my information is accurate, we cannot always guarantee that the information on this website, blog or podcast is always correct, complete or up-to-date.
** Please note that some tax legislation has been updated since the recording of this podcast. Please consult with Legacy Tax to ensure your succession plan is onside with these rule changes that came into effective Jan 1/24.
For additional info, see this link: https://www.legacytax.ca/resources/news/intergenerational-business-transfers