(WEBINAR) 🏢 Using the Corporate Functionality (Recorded Nov 10, 2021)

This training will show you the basics of using the corporate module for a sample client.  We are going to start with entering data for the corporation, running the projections, and showing you how to move money from the corporation to the personal planning page. 

We will review the following:

  • How to get access to the Corporate module in Snap.
  • Add a corporation into your projections (Holding Company and/or Operating Company).
  • Model the activities of the corporation (including income, expenses, capital assets, real assets, debt, and more).
  • Move money from the corporation into personal projections for income purposes or estate planning.
If your questions aren't addressed in the recording, please reach out to us at  [email protected] and we will be happy to help!

Click here to watch the recording of the webinar.  Simply enter your name and email address and the recording will be made available to you immediately.

Please note that the UI design of Snap Projections was updated after this video was recorded. The main functionality remains unchanged, but the navigation to various settings pages and the Corporate Planning page has been changed. Instead of using the Settings button, please use Scenario Setup at the top left of the screen. You can now access the planning page for each entity by clicking the button for that entity in the 3rd navigation level and selecting Planning pages just above it in the 2nd navigation level.

The following topics are covered:

Section 1: Add a Corporation to the Projections [0:00 - 7:30]

Section 2: The Corporate Planning page [7:30 - 13:45]

  • A quick review of the Planning page
  • Adding Active Business Income
  • Adding a Salary and Additional Expenses
  • Adding Capital Assets (9:30)
  • Adding Real Assets with a future sale date (10:40)
  • Adding Debt (11:45)
  • Navigating the Corporate and Personal Planning pages (13:00)

Section 3: Paying out Dividends [13:45 - 21:35]

  • Paying out Non-Eligible dividends
  • Adjusting the investment rate of return at retirement (14:30)
  • Reviewing the personal projections and the final estate
  • Paying out Capital Dividends and tracking the Capital Dividend Account (16:00)

Section 4: Adding more Capital Assets [21:35 - 28:00]

  • Add a Cash investment account 
  • Override automatic contributions 
  • Update the dividend amounts based on these changes 
  • Explanation - dividend refunds are earned in one year and paid out the following year (23:20)
  • Order of withdrawals from the investments (24:45)
  • Using contribution/withdrawal overrides (25:30)

Section 5: Report [28:00 - 29:40]

  • Net Worth Statement
  • Net Worth Projection
  • Cash Flow Summary

Section 6: Detailed Overview of the Corporate Planning page [30:00 - 34:00]

  • Taxable Investment Income Details
  • Updating the Portfolio Settings
  • Corporate Income Tax Details
  • Notional Account Balances (RDTOH, CDA, etc.)

Section 7: Examples to model and Common Questions [34:00 - 48:24]

  • How to model Rental Income (35:00)
  • How to deposit a specific amount to investments without entering Active Business Income (36:00)
  • Corporate-owned insurance (37:30)
  • Pink highlighting and how to avoid a shortfall (39:30)
  • Selling a business (43:10)

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