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T he Ontario government is developing new rules for increasing the number of women in senior business positions. Families would bene t by following that lead with more participation by both partners in investment meetings and family nances. Many countries are seeing an increase in the number of women occupying senior positions within private companies. In Canada, however, only 10 per cent of directors are women compared to 47 per cent holding positions on public sector boards, agencies and commissions. To address this disparity, the government will allow companies to set their own strategy and targets to achieve this goal. Families, like businesses, would also bene t from developing a way of increasing both partners' participation. Often, one partner takes the lead in nancial planning meetings. Equal input, however, by both partners strengthens the knowledge base and broadens the point of view from which decisions are made. There can be reasons why either partner chooses not to be involved with the family nances. Anything from time, interest or expertise can encourage one spouse to happily accept the other spouse handling the investment decisions. In a perfect world, both parties would be equally involved in every aspect of nances. However, there can be a compromise where both partners Participation by both partners in INJURED? I Can Help! family financial meetings best YOU DON'T HAVE TO PAY Dollars & Sense UNLESS I GET YOU MONEY My team of experienced lawyers can help you with: · Car accidents · Slip and Falls · Disability Claims (Short-Term Disability, Long-Term Disability, CPP) OFFICES IN OAKVILLE AND TORONTO For free consultation call: Oakville: 905.842.0222 or Toronto: 416.351.9222 email: sspadafora@slspc.ca 9 | Thursday, July 4, 2013 | OAKVILLE BEAVER | www.insideHALTON.com Peter Watson Guest Contributor are involved with the two most important categories of family nancial management. The rst area is long-term, cash- ow projections -- best to be done annually -- to show whether or not there will be suf cient funds available to accomplish long-term objectives. An investment adviser can help with this. Cash- ow projections can be used to determine if you have suf cient funds for a post-secondary education for children or grandchildren and for supporting your desired lifestyle during the retirement years. Do not let the perceived complexity of looking at long-term, cash- ow projections discourage you. Software programs make this an extremely easy exercise. If the projected cash ow continues, that is good. If it declines, and then stops, that means you are destined to fall short of your objectives see Both on p.10 Sam Spadafora Injury and Employment Law INCOME TAX PLANNING FOR SMALL BUSINESS OWNERS TEN YEARS IN A ROW We have, for the tenth year in a row, been awarded the First Place Diamond Award in the categories of Incorporation Services, Tax Planning and Preparation Services and Business Advisory Services. If You Earn In Excess Of $20,000 Per Year And Are Not Incorporated, You Are paying Too Much Income Tax. TAX PREPARATION SERVICES CALL THE TAX ADVISORY NOW FOR A FREE ASSESSMENT OF YOUR CORPORATE AND PERSONAL INCOME TAX PLANNING SITUATION AT 905-469-8777 WWW.THETAXADVISORY.CA THE FOLLOWING TABLE SHOWS JUST HOW MUCH MONEY YOU CAN SAVE THROUGH INCORPORATION.... Net Income Personal Income Tax Corporate Income Tax Income Tax Savings ED FOSTER 20,000 40,000 60,000 80,000 100,000 120,000 140,000 3,277 9,319 16,095 22,712 31,117 39,799 48,750 3,100 6,200 9,300 12,400 15,500 18,600 21,700 177 3,119 6,795 10,312 15,617 21,199 27,050 ....AND THIS IS BEFORE WE ENSURE THAT YOU HAVE CLAIMED EVERY POSSIBLE DEDUCTION THAT IS AVAILABLE TO YOU. WOULDN'T YOU LIKE TO KNOW THAT YOU ARE PAYING THE MINIMUM AMOUNT OF INCOME TAX POSSIBLE? ADVISORY COMMITTED TO REDUCING THE INCOME TAXES THAT YOU PAY www.thetaxadvisory.ca THE TAX INCORPORATORSTM COMMITTED TO INCORPORATING YOUR COMPANY THE RIGHT WAY THE FIRST TIME www.theincorporators.ca THE ADVISORY COMMITTED TO MAKING YOUR BUSINESS A SUCCESS www.thebusinessadvisory.ca THE BUSINESS SERVING SMALL AND HOME BASED BUSINESSES FOR OVER 30 YEARS