When does it make sense to incorporate? Farmers, of all ages, are asking this question more and more as farm revenue steadily increases with rising commodity prices.
But when is the right time?
In this video, Colin compares the differences between being incorporating versus claiming farm revenue as personal income, from a cash flow and tax perspective.
Colin Sabourin is a Winnipeg-based investment & financial advisor with Harbourfront Wealth Management. His specialty is working with farmers who are planning to sell or transition their farms within the next 5 to 10 years.
Disclaimer: The views expressed are those of Colin Sabourin, Certified Financial Planner, and Investment Advisor, and not necessarily those of Harbourfront Wealth Management Inc., a member of the Canadian Investor Protection Fund.
