How can entrepreneurs effectively plan and accumulate wealth? What role do holding companies and the capital dividend account play?Join host Marcelo Taboada and Uros Milekic from BDO Canada as they dive into key financial strategies for entrepreneurs. Learn how to optimize tax savings, protect assets, and set up holding companies for legal and tax benefits.Discover the pros and cons of taking a salary versus dividends, managing cash flow, and planning for retirement. Uros explains the Capital Dividend Account (CDA) and Refundable Dividend Tax on Hand (RDTOH) for tax-efficient fund distribution, and highlights Individual Pension Plans (IPPs) as a powerful wealth accumulation tool.Tune in to navigate financial planning complexities and make informed decisions for your business!Key Points:Advisory Team: Importance of a team of accountants, tax advisors, and lawyers. (9:50)Setting Up Holding Companies: Advantages for legal protection and tax efficiency. (16:00)Salary vs. Dividends: Pros and cons, and tax Implications of taking a salary versus dividends. (25:32)Accumulating Wealth: Wealth strategies within a corporation, using RRSPs, TFSAs, and investments. (26:45)Capital Dividend Account (CDA): Using the CDA to distribute funds tax-free. (35:12)Refundable Dividend Tax on Hand (RDTOH): Understanding RDTOH for managing investment income. (40:12)Optimizing Financial Strategies: Techniques for managing cash flow, working capital, and retirement planning. (42:39)Incorporating a Business: Why and when to incorporate for tax benefits and asset protection. (51:37)Insurance Considerations: Types of insurance policies and their implications when held personally or within a corporation. (1:01:52)Individual Pension Plans (IPPs): IPPs as a wealth accumulation strategy for high-income business owners, benefits over traditional RRSPs. ​(1:05:00)And so much more!Mentioned in this Episode:Tulett, Matthews & AssociatesBDO CanadaThanks for Listening!Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112.Follow Tulett, Matthews & Associates on social media on LinkedIn,