Archive for the ‘Self Employment’ Category

Business use of Personal Auto

We receive many inquiries regarding how to account for the business use of personal auto. There are many instances where a self employed person or a salaried employee is required to use personal automobile for business use.
The federal budget on 2014 automobile deduction limits define the maximum deductibility or ceiling limits on [...]

Salary or Dividend

If you own a corporation, as a shareholder, you have the option of paying yourself a salary or dividend.
There is no simple answer to this question, it depends on a number of factors;
The shareholder/owner
- income level
- cash flow requirements
- RRSP and TFSA contribution room
- age
The Company
- forecasted income for the year
- any other shareholders
Advantages/Disadvantages of [...]

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