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What are my pay options – a dividend or salary?

You did not open a business so that you could not make money.  The idea is to pay yourself and give you the independence you were looking for.  Well, making the decision on how you are going to pay yourself is not as easy as you would think.  There are tax implications, payroll management, and other factors that must be reviewed prior to making the best decision for your business.  At Numbers Plus Professional Corporation, we understand the role of taxes, financial management, and making the right strategic decision.

You probably know, for instance, that the tax rules allow you to deduct costs of doing business from your gross income. What you’re left with is your net business profit — the amount that gets taxed. But getting hold of that money can be an issue since small business owners often have trouble separating personal wealth from the cash that’s in the business. How you withdraw money from your business is important, though.  Numbers Plus Professional Corporation is there to help you plan your strategy to help grow your personal worth.