My Accountant Does the Books, Not the Plan. Is My Plan Even Complete?

Most accountants for owner-managed corporations are hired to keep the books and file accurately and on time. Long-term planning (how money gets out, retirement, what happens at a sale or death, and insurance) often falls between professionals, so nobody owns it. A complete plan answers eight questions in writing; if you can't answer one, that's the gap to fill, and your accountant should be part of filling it.

“He’s great with the books, but the long-term strategy…”

We hear this from owners every week, and it's rarely a complaint about the accountant. Year-end work is deadline-driven and priced as compliance. Strategy questions such as when to sell, how to retire off the corporation, or what your family owes if you die next year, cross into legal, insurance and investment territory. Unless someone is asked to own them, they wait.

The eight questions a complete plan answers

Question	What a good answer looks like	Usually owned by
1. How am I paying myself this year, and why?	A salary/dividend mix chosen on purpose, in writing	Accountant
2. How much is sitting in the corporation, and what is it for?	A reserve figure, and a job for the surplus	Accountant + advisor
3. Is passive income costing us the small business rate?	Last year's passive income and the dollar cost, if any	Accountant
4. Where will my retirement income come from?	Sources, amounts and order, not just “the business”	Advisor + accountant
5. If I sold, would my shares qualify for the capital gains exemption?	A yes/no today, and what it would take to be onside	Accountant + lawyer
6. If I died this year, what tax would my estate owe, and with what cash?	A number, and the money that pays it	Accountant + insurance advisor
7. If a partner died or became disabled, what happens to their shares?	A shareholder agreement with a funded buy-sell	Lawyer + insurance advisor
8. Who coordinates all of this?	One person who keeps the others talking	You decide

Each question has its own guide: getting money out, money sitting in the corporation, passive income, retiring from your corporation, selling or passing it down and estate liquidity.

Signs something is missing

• Your year-end meeting ends with “you paid a lot of tax this year” and no plan for next year.
• Nobody has ever mentioned key person or buy-sell insurance, and you have partners.
• You know your corporation's balance but not your capital dividend account balance.
• Your will hasn't been looked at since the company grew.
• You're planning to sell “in a few years” and nobody has checked whether the shares qualify.

Where we start

Greg's observation from owner calls is that many owner-managed companies have no forward-looking plan at all. So he starts with two questions: where do you stand today, and where do you want to be in five to seven years? Then structure, because everything else stems from it: is there a holding company, an operating company or a trust, and why does each one exist? Specific strategies come after that.

The gaps owners describe are often specific. One owner with partners told us key person insurance had never been brought up, and that he suspected he wasn't seeing the full picture. Greg's approach to gaps like that is to bring the right people together, the owner's lawyer and accountant plus our own resources, and make sure it all works together. That's where he's seen it work best.

Who this is for, and who it isn't

Run your own numbers

Questions to ask your accountant

• Which of these eight questions do you see as your job, and which should someone else own?
• Can we book a planning meeting separate from year-end?
• Would you be open to a joint call with my lawyer or insurance advisor?

Related guides

Frequently asked questions

Isn't tax planning my accountant's job?

Part of it. Accountants handle compliance and many plan your pay mix. Questions that cross into insurance, legal structure and estate planning often need more than one professional, and someone has to coordinate them.

What should a complete tax plan for an incorporated business owner cover?

How you pay yourself, what the surplus in the corporation is for, whether passive income is costing the small business rate, retirement income, whether your shares would qualify for the capital gains exemption on a sale, the tax your estate would owe and how it's funded, what happens to a partner's shares, and who coordinates it all.

Should I bring my accountant to a strategy session?

Yes, if you can. Plans work best when your accountant sees the same numbers and can confirm how they apply to your corporation.

How is Dundas Wealth paid?

Dundas Wealth is an insurance brokerage (Dundas Life Inc., FSRA #37628M). The strategy session is free. If a life insurance policy is part of your plan and you decide to go ahead, the insurance carrier pays us a commission when the policy is placed. You don't pay us a fee, and if your structure is already right, your one-page brief will say so.

Figures are current as of 2026 and are general information, not tax, legal or investment advice. Rules and rates change, and how they apply depends on your facts. Confirm anything here with your accountant before acting. Dundas Wealth is an insurance brokerage (Dundas Life Inc., FSRA #37628M). We are paid by the insurance carrier if and when a policy is placed.