--- title: Tax Time Is Estate Planning Time — Especially for Business Owners description: For business owners and families with net worth exceeding $5 million, tax season is more than filing returns but the most important planning of the year. image: https://www.macmillanestate.com/hubfs/New%20blog%20pics%2029-01-26%20(3)6.png --- [**1-403-266-6464](tel:1-403-266-6464) [** Contact Us](https://macmillanestate-2002029.hs-sites.com/macmillan-meet-with-us) - [ABOUT US](https://www.macmillanestate.com/get-to-know-us) - [Get to Know Us](https://www.macmillanestate.com/get-to-know-us) - [Our Team](https://www.macmillanestate.com/our-team) - [Giving Back](https://www.macmillanestate.com/giving-back) - [Client Spotlights](https://www.macmillanestate.com/client-spotlights) - [SERVICES](https://www.macmillanestate.com/services) - [All-Inclusive Services](https://www.macmillanestate.com/services) - [Will Planning](https://www.macmillanestate.com/will-planning) - [Investments & Assets](https://www.macmillanestate.com/investments-and-assets) - [Business Succession](https://www.macmillanestate.com/business-succession) - [Probate & Estates](https://www.macmillanestate.com/probate-and-estates) - [Tax Planning](https://www.macmillanestate.com/tax-planning) - [Charitable Giving](https://www.macmillanestate.com/charitable-giving) - [Trust Planning](https://www.macmillanestate.com/trust-planning) - [Generational Planning](https://www.macmillanestate.com/generational-planning) - [Family Office](https://www.macmillanestate.com/family-office) - [Fees](https://www.macmillanestate.com/fees) - [APPROACH](https://www.macmillanestate.com/the-strongroom-approach) - [The Strongroom Approach](https://www.macmillanestate.com/the-strongroom-approach) - [Our Process](https://www.macmillanestate.com/the-strongroom-process) - [Our Strategies](https://www.macmillanestate.com/macmillan-strategies) - [Virtual Estate Planning](https://www.macmillanestate.com/virtual-planning) - [INSIGHTS](https://www.macmillanestate.com/insight_new) - [Blog](https://www.macmillanestate.com/the-strongroom-blog) - [Resources](https://www.macmillanestate.com/insight_new) - [Talk to the Experts Radio](https://www.macmillanestate.com/talk-to-the-experts) - [SEMINARS](https://www.macmillanestate.com/seminars) - [CONTACT US](https://www.macmillanestate.com/macmillan-meet-with-us) - [Ask an Expert](https://www.macmillanestate.com/ask-an-expert-about-estate-planning) - [Request a Guest Speaker](https://www.macmillanestate.com/guest-speaker) [![MacMillan Estate Planning](https://www.macmillanestate.com/hs-fs/hubfs/macmillan-logo-mob.png?width=126&height=118&name=macmillan-logo-mob.png "MacMillan Estate Planning")](https://www.macmillanestate.com/) # [The Strongroom Blog](https://macmillanestate-2002029.hs-sites.com/the-strongroom-blog) #### Topics: [Estate Planning](https://www.macmillanestate.com/the-strongroom-blog/topic/estate-planning) # Tax Time Is Estate Planning Time — Especially for Business Owners [fa icon="clock-o"] Feb 15, 2026 8:00:00 AM [fa icon="user"] [The MacMillan Estate Planning Team](https://www.macmillanestate.com/test_blog/author/the-macmillan-estate-planning-team) For business owners and families with net worth exceeding $5 million, tax season is more than filing returns — it’s one of the most important planning windows of the year.   By February, the numbers are clearer: corporate income, capital gains, dividends, and personal tax exposure are coming into focus. This makes now the ideal time to step back and assess a much bigger question:   Is your estate plan structured to minimize tax — not just this year, but over your lifetime and at death?   For many high-net-worth families, the largest tax bill is not paid while living, but when an estate is settled. Without proper planning, capital gains tax, probate costs, and administrative expenses can significantly reduce what ultimately passes to family.   Why February Matters   Tax time brings clarity. It highlights: - Where income and growth are accumulating (inside corporations, holding companies, or personally) - How exposed your estate may be to capital gains on death - Whether your current structure still aligns with the size and complexity of your wealth February is often when gaps become visible — and when proactive planning can still make a meaningful difference.   Key Estate & Tax Planning Considerations for Business Owners   Corporate & Holding Company Planning If a significant portion of your wealth is held corporately, your estate may face substantial capital gains tax at death. Strategies such as estate freezes, share reorganizations, and trust planning can help cap tax exposure and shift future growth to the next generation in a controlled way.   Succession & Family Transition Transferring a business to children or future leaders without tax-aware planning can trigger unintended consequences. Effective succession planning considers timing, valuation, control, and tax efficiency — not just who takes over.   Trust & Income Planning While income-splitting rules have changed, trusts can still play a critical role in managing growth, protecting assets, and planning for future generations when structured correctly.   Planning for Capital Gains on Death Without planning, unrealized gains are triggered at death. Insurance strategies, charitable planning, and trust structures can be used to fund or reduce this liability, preserving more wealth for heirs. Coordination Matters Tax strategies must align with your Wills, shareholder agreements, and powers of attorney. When these pieces are disconnected, opportunities are lost and risk increases.   Estate Planning Is Strategic — Not Just Legal A common misconception is that estate planning is simply about documents. For high-net-worth families, it is a strategic process that integrates tax planning, trusts, business succession, asset protection, and family governance.   Tax season is when the financial picture is clearest — and when reviewing your estate plan is most effective.   Join Us: [Complimentary Webinar — February 26 at 6:30 PM](https://www.macmillanestate.com/february-26th-2026-webinar-registration)   To explore these topics in more detail, MacMillan Estate Planning is hosting a complimentary estate planning webinar focused on tax planning, business owners, and high-net-worth families.   Date: Wednesday, February 26 Time: 6:30 PM (MT) Format: Live webinar Register here: [https://www.macmillanestate.com/seminars](/seminars )  This session is designed for business owners and families who want to proactively minimize tax, plan for succession, and protect their legacy — before opportunities are missed. - [Tweet](https://twitter.com/share) --- At MacMillan Estate Planning, our team of professional trust and estate practitioners, chartered accountants, financial planners, and legal professionals look forward to assisting you with the design of your estate plan and will ensure you build, protect, and enjoy your wealth. The information provided is general and may not be suited to your objectives or sufficient to ensure the protection of you and your family. You should not act on this information without providing MacMillan Estate Planning with the opportunity to ensure that it is suitable for your unique situation. ![The MacMillan Estate Planning Team](https://www.macmillanestate.com/hs-fs/hubfs/Untitled%20design.png?width=100&height=100&name=Untitled%20design.png) #### Written by [The MacMillan Estate Planning Team](https://www.macmillanestate.com/test_blog/author/the-macmillan-estate-planning-team) ### Upcoming Seminars - ### Calgary November 21st | 6:30 PM [REGISTER](https://www.macmillanestate.com/seminars) - ### Edmonton NOVEMBER 26th | 6:30 PM [REGISTER](https://www.macmillanestate.com/seminars) - ### Calgary JANUARY 23rd | 6:30 PM [REGISTER](https://www.macmillanestate.com/seminars) - ### Edmonton JANUARY 28th | 6:30 PM [REGISTER](https://www.macmillanestate.com/seminars) - ### Vancouver JANUARY 30th | 7:00 PM [REGISTER](https://www.macmillanestate.com/seminars) We are here to help [![Ask Us a Question](https://no-cache.hubspot.com/cta/default/2002029/9ae350ab-8493-4443-82db-d4438ede5dd7.png)](https://cta-redirect.hubspot.com/cta/redirect/2002029/9ae350ab-8493-4443-82db-d4438ede5dd7) ### Posts by Topic - [living trusts (1)](https://www.macmillanestate.com/test_blog/tag/living-trusts) ### Posts by Date - [February 2021 (1)](https://www.macmillanestate.com/test_blog/archive/2021/02) - [February 2026 (1)](https://www.macmillanestate.com/test_blog/archive/2026/02) ![checklist_image.png](https://www.macmillanestate.com/hs-fs/hubfs/Images/checklist_image.png?width=541&name=checklist_image.png "checklist_image.png") ## Get Your Complimentary Edition of MacMillan Estate Plannings, **Self Planning Checklist:** #### MacMillan Experience --- - [What Makes Us Unique](https://www.macmillanestate.com/macmillan-what-makes-us-unique) - [The Strongroom Approach](https://www.macmillanestate.com/the-strongroom-approach-old) - [Platinum Client Service](https://www.macmillanestate.com/macmillan-platinum-estate-planning-services) - [Client Experience](https://www.macmillanestate.com/client-experience) - [Virtual Estate Planning](https://www.macmillanestate.com/eplanning-services) #### Get to Know Us --- - [Our Story](https://www.macmillanestate.com/our-story) - [Our Team](https://www.macmillanestate.com/our-team) - [Giving Back](https://www.macmillanestate.com/giving-back) - [News & Events](https://www.macmillanestate.com/news-and-events) #### Estate Planning --- - [Will Planning](https://www.macmillanestate.com/will-planning) - [Trust Planning](https://www.macmillanestate.com/trust-planning) - [Business Succession](https://www.macmillanestate.com/business-succession) - [Investments & Assets](https://www.macmillanestate.com/investments-and-assets) - [Estate Planning Services](https://www.macmillanestate.com/estate-planning) #### The Strongroom --- - [The Strongroom Radio](https://www.macmillanestate.com/strongroom-radio) - [Estate Planning Audio Vault](https://www.macmillanestate.com/audio-vault) - [Resource Library](https://www.macmillanestate.com/resource-library) - [The Strongroom Blog](https://www.macmillanestate.com/the-strongroom-blog) - [Privacy Policy](https://www.macmillanestate.com/privacy-policy) ##### Safeguarding SignificanceTM ##### MacMillan Estate Planning Corp. 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