Thrive Financial

BUSINESS OWNERS

Identifying issues for business owners and how we can help.

TAX PLANNING

Integrated Tax Planning for the Entrepreneur, Business and Trust.

ESTATE & LIVING BENEFITS

Estate tax maximization for families and wealth planning for entrepreneurs.

BUSINESS OWNERS & TAX INFORMATION SEMINAR

Over 2016 and 2017 all business owners and especially medical/professional corporations have been the target of the federal government. The sunny ways and “tax the rich” has transformed into taxing every small business owner.

Learn how these changes will affect every business owner.

Our Collaborative Team

Process

Observe

Observe

Putting all of the noisy bits off to one side (financial media, newsletters, online chat groups and so on), let’s look at the financial markets and tax laws in terms of what we can measure with hard data (Index levels, interest rates, inflation gauges, employment figures, price of resources (oil, gas, gold etc) and other sundry prices). Incorporate existing tax laws, while cognizant of potential changes. Incorporate current income and lifestyle needs and wants along with any existing strategies on savings or tax reduction.

Orient

Orient

Making judgements on the facts from Observe. If done correctly, the conclusions are based on what we have observed and reflect reality, vs how we wished things were, or finding facts to support our opinion and/or observation. During the Orient phase, models are created from the Observation to determine potential outcomes. Do they work? What modifications need to be adjusted for an acceptable model to work?

Decide

Decide

The output of the Orientation. Taking the facts of Observe, merging with the hypothesis from Orientation, provides us with the options and the decision of which path to act upon.

Act

Act

Implementing the decided upon course of action. When indecision or hesitation occurs, we need to review how we Oriented ourselves. Assuming the Orientation is based on Observe (and not the other way), the potential outcomes are based on factual information, then executing the final hypothesis should be a natural step. If we are indecisive or hesitant do we agree on the observations? Observe is the foundation for all decisions and executions made. If the foundation is faulty then the resulting hypothesis, actions and expected outcomes will also be faulty.

Review

Review

Life changes, business changes, tax laws change, your plan needs to adapt. A good plan should be able to adjust to these changes. However, these adjustments do not occur instantly, they require time and planning to maintain optimal efficiency. Therefore regular reviews are recommended. Regular is different for every client, some clients it’s constant, six to eight times per year, other clients it is one to two times per year. For some, it is a most once a year, but for every client the one constant remains the same, the ability to connect and get an adhoc review outside their regular review cycle.

"Don't be upset with the results you didn't get from the work you didn't do."

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