The Exclusive PPP Workshop
If you are a business owner, doctor, lawyer, dentist or senior executive you should attend the Harry James Group exclusive PPP Workshop.
Sometimes our mindset is negative, we simply stop growing or assume we know it all or we’ve seen it all. When exposed to new products or ideas we often assume there’s a catch or it’s some type of insidious scheme designed to separate us from our hard earned dollars. The good news is every now and again something new does come along that has substance, integrity and creates a unique opportunity. In the area of retirement planning that’s where the Personal Pension Plan can stand up and take a well earned bow.
- Personal pension plans allow you to shelter up to 40% more income annually from taxes and up to 60% greater tax-deferred compounding until retirement.
- Contributions to a personal pension plan generates additional tax savings at the corporate level.
- There are 7 new types of tax deductions inside of a PPP that you cannot find inside of an RRSP.
- Greater annual deductions ranging from $1,507 at age 40 to $17,302 by age 64 and beyond. Terminal funding to enhance the basic pension (up to $1,500,000 additional corporate tax deductions).
- Ability of the corporation to make additional contributions to assist in the purchase of past service for previous years (up to $500,000 additional corporate tax deductions).
- Special Payments (also tax-deductible) if the assets of the pension plan don’t return 7.5% Interest paid to lenders for contributions made for the PPP are tax-deductible Investment management fees paid on any assets inside of the PPP are tax-deductible.
Annual administration, trustee, and actuarial fees are also tax-deductible.
The self-employed life comes with its share of sacrifices, stresses, ambiguity and uncertainty. The good news is whether you run a large or small corporation there are certain perks/advantages that are available and when appropriate can have a big impact on what you keep. Further there are some very unique advantages to the personal pension plan if you have family members in the business. Succession planning can become very creative and flexible when utilizing some of these concepts.
If you’d like to learn more about the Personal Pension Plan come to our exclusive workshop and receive the finer details in a relaxed atmosphere along with some refreshments. Canada’s premier personal pension plan expert Mr. Jean-Pierre A. Laporte will be speaking and available to answer all of your questions.