4 Business Situations A Financial Advisor Can Help With

Any time you are encountering a notable business event, it is critical to remember that your financial advisor in Toronto can help with more than simply your retirement account. Listed below are some often-overlooked financial situations that a business needs to consult their financial advisor about.

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Safeguarding business assets:

Asset protection is something that so many business owners either don’t completely comprehend or haven’t discussed before with their financial advisors. Being a business owner, you are susceptible to a wide range of risks, and in some events, commercial insurance does not cover all those risks. In most cases, it makes sense to look at different trusts or business structures.

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Preparing for next year’s taxes:

A financial advisor who’s permitted to offer tax advice can be a priceless resource for clients. These are things that need to be taken care of before the financial year is over, not in April when you are filing your taxes. It is too late at that point.

Planning to sell your business or a major asset:

The one area that typically costs business owners the most is falling short to enthusiastically plan for capital gains tax avoidance before the sale of a major asset or business. Often, a client will sell the business or asset and then look for ways to ignore a large capital gains tax bill. Rather, a client should prepare an exit plan with their financial advisor before the sale, because later, it’s usually too late.

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Basic liability planning:

Financial advisor in Toronto can aid with basic liability planning by talking with their clients not just regarding any debt that’s being carried but also about how it’s being carried and how to construct a plan for getting out of it.

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Looking to work with a certified Financial Advisor in Toronto to grow your business? Don’t hesitate to call Haunn Landers & Co. They help our clients make wise decisions surrounding their wealth.

Disclaimer: This content is created and provided by a third-party online content writer on behalf of Haunnlanders.ca, and is for promotional purposes only. Haunnlanders.ca does not take any responsibility on the accuracy of this article.For more information call at 905-821-8224 .

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