The Viciousness of Income Tax

My name is Taivi Taylor, a Certified Financial Planner specializing in estate planning with a focus on tax planning. I’ve come to realize that most people don’t fully understand how severe income taxes can be upon death. For instance, capital gains inclusion rates on corporate assets can reach 67%, and once you surpass $250,000 in personal assets in Ontario, the highest marginal tax rate hits 53%. On top of this, there’s the Estate Administration Tax.

Even if you have assets, without liquidity at the time of your passing, your estate may be forced to sell properties like rentals, cottages, or even the business—triggering additional taxes. It can lead to financial trauma compounding personal loss.

You owe it to your family to plan ahead. Investing in a permanent life insurance strategy can help protect your wealth, as otherwise, nearly 40% could be left behind while the CRA claims the remaining 60%. Don’t leave your loved ones financially vulnerable—protect them.

At Tayler Insurance & Estate Planning, we help business owners grow their wealth, minimize taxes, and safeguard their legacy. If you have questions or want to learn more, please contact our office at taylerinsurance.com.