Kelowna accountant, Ken Davidson, gives advice on RRSP contributions for business owners.

I generally don’t recommend RRSP contributions for business owners because of the restrictions in the investments that can be made within an RRSP and that the minimum amounts that have to be withdrawn in retirement are out of your control. What I recommend for business owners is to have a holding company for their investments and they can hold the exact same investments that they hold in their RRSPs, if that’s what they want to invest in.

The business owners do not have to withdraw cash from… Continue reading →