PRESENTATION TITLE:
How to Reduce the Tax Burden?
PRESENTATION OBJECTIVES:
- Compare the long-term financial outcomes of a whole life insurance strategy versus a term insurancebplus external investment strategy.
- Discuss how assumptions around returns, behaviour, tax treatment, and risk affect the performance of each approach over time.
- Evaluate which strategy may be more appropriate at different stages of a physician’s career and financial life.
SYNOPSIS:
Discuss how the Canadian government has income tax laws to discourage wealth accumulation inside a corporation.
BIO:
Norm is a professional accountant who obtained an Honours Bachelor of Commerce degree from Laurentian University. Upon graduation, Norm moved to Ottawa where he later obtained his designation as a Chartered Professional Accountant.
Norm’s accounting career began as an auditor at the Office of the Auditor General of Canada (OAG). He was part of the audit teams of the Canadian International Development Agency, International Research and Development Centre, Export Development Corporation, Canada Post and the Department of Foreign Affairs and International Trade.
Subsequently, Norm entered the private sector to take on senior management and controllership roles at several privately and publicly held companies. He gained experience in various industries such as information technology, aviation, office furniture, and construction. Norm was also successful at international accounting software sales within the office furniture industry.
In 2015, Norm purchased an accounting firm which is now running under the Houle & Associates Chartered Professional Accountants banner. As a corporate and personal tax specialist, Norm works diligently with varied professionals and business clients to provide comprehensive tax and financial planning.
Norm is a dedicated husband, father, and proud grandfather of 2 who always enjoys a good laugh. He also likes to travel and downhill skiing with his family and friends.