Small Business Owners with no benefits plan
- May 10, 2018
- Posted by: admin
- Category: Insurance Advice
A strategic choice:
It’s safe to say that you’re always looking to make smart strategic decisions for your business. You’re constantly looking to save money while staying competitive in your industry. Part of maintaining your competitive edge is retaining key employees, usually through bonuses and/or raises.
The concept is straightforward; you reward an employee’s good work with a raise. However, consider this: that raise actually costs you more when you take into account pay-roll taxes like CPP/QPP, EI, etc. Not to mention the value of that raise to the employee is greatly reduced due to federal and provincial taxes.
On the other hand, by offering your employees a group benefits plan, you’re giving them medical and financial peace of mind. In all provinces except Quebec, employees receive health and dental benefits tax-free and your contributions as a business owner are considered a tax deduction.
Not only does this help retain valued staff, it works to attract any prospective employees in the future.
If the idea of rewarding your employees with tax-effective benefits interests you, I would be more than happy to offer my services. As a financial advisor, I’ll be able to evaluate your company’s needs and help recommend a cost effective, sensible plan for you and your employees. If you already have a benefits plan, I can go over your current benefits package to ensure your plan is set up to provide the best possible tax advantages.
I appreciate your time, and will be following up shortly. In the meantime, please feel free to contact me with any questions or thoughts you may have.
If you want to get Travel Insurance quote sent to your email, please contact at firstname.lastname@example.org or contact us at 604-757-2854 for assistance in Group Benefits Surrey, Group Benefits Langley, Group Benefits Delta, Group Benefits Burnaby and Group Benefits Abbotsford.
Our advisors are also available in Group Benefits Vancouver, Group Benefits Coquitlam, Group Benefits Port Moody and Group Benefits Maple Ridge for a face to face meeting at the time and place of your convenience.
Source: Manulife insurance