Salary Vs Dividends – How to Pay Yourself as a Business Owner (Canada)
Business owners make a multitude of decisions that may have significant implications on their taxes – especially when it comes to compensating from an incorporated business. One of these decisions is about whether business owners should pay themselves using a salary, dividends, or a combination of the two.
In this session, attendees will learn:
• Strategies that are available to pay a business owner – business salary or dividend.
• The advantages and disadvantages of paying a business owner either a salary or dividend.
• Explore the possibility of combined payment for both salary and dividend
• Corporate and personal tax effects of paying dividends versus salaries.
Vartika Satija, CPA, CA is an independent designated professional accountant, striving to work with small businesses to educate and provide a financial check up of their business. Her passion is to partner up with Sole Proprietors, Small Businesses and Non for Profits to provide ongoing guidance towards their unique Accounting and Tax requirements. Her mission is to ensure that small businesses are well educated and informed about the best tax and accounting practices to be able to manage their cash flows and utilize in the best possible ways that will help to grow their business, achieve their financial goals and make a difference in the community. Her intensive experience includes personal and corporate tax compliance, tax planning, and other business advisory and who have also been involved in all sorts of businesses such as manufacturing, consulting, professional services, constructions, retail, restaurants, real estate, and many more.