After reading this article you’ll understand what a shareholder loan is and how to use it. You’ll also be aware of potential tax issues that can arise with CRA and how to avoid them.
Like a dagger to the heart of procrastination, you’ll be asked that very question when you have Momentum installed on your Chrome or Firefox browser.
But for Levi Bucsis, the founder of this personalized productivity dashboard, it was a reminder that his own focus was all over the place - especially when it came to bookkeeping.
He simply didn’t enjoy it. In fact, he wasn’t all that sure if he was doing it right, and he desperately wanted to hand it off to someone who did, so he could focus on the parts of his business he enjoyed.
After reading this article, you’ll understand what a holding company is and when you should consider using one. We’ll also look at some holding company examples to explain why someone would incorporate a holding company in Canada. At the end, we talk about the disadvantages of incorporating a holding company in Canada.
No doubt there's a lot that goes into growing a successful company. You build a great product or service that people love. You have an awesome team and culture. You have processes to deliver consistent results. But one of the most important and often overlooked elements to growing a successful business is having someone to keep you accountable to your goals.
If you own a business through a corporation, you have the ability to pay yourself a salary or dividends or a combination of both. This article will look at the difference between the two methods and the main advantages and disadvantages of each. We will also see some common scenarios for when a business owner may choose one method over the other.