How to Legitimately Put Your Kids on your Company Payroll?

Kids on your Company Payroll

How to Legitimately Put Your Kids on your Company Payroll? Many business owners would love to be able to put their kids on their company payroll. Paying your child would mean paying at a much lower marginal tax rate than you have. But paying your child a salary through your business can be risky with CRA. The last thing you … Read More

Should I Take a Salary or Dividend from my Business?

take a salary or dividend

Many business owners struggle with whether to take a salary or dividend from their business.  If you look at it strictly from a mathematical standpoint, the difference is like splitting hairs.  The government has made that decision pretty easy from a monetary standpoint.  In the hands of the business owner, the two are virtually the same.  The advantages were obvious … Read More

Don’t Wait Too Long for Converting Your Term Insurance

converting your term insurance

Converting Your Term Insurance into an Asset If you require permanent life insurance coverage for family, estate planning, business, or tax planning purposes or you just wish to accumulate money in your life insurance program. It may be time to look at a permanent, level cost solution. Many of us purchase large amounts of low cost term insurance to cover our … Read More