Compensation Planning

Perhaps the most important issue for many business owners is how to compensate themselves. We can determine the most tax-effective way to remunerate business owners. Key considerations include:

• Salary vs. dividends
• Amount of bonus and methods of distribution among owners or partners
• Income splitting with spouse and children
• Compliance with regulatory authorities (CPP, EI, Income tax withholdings)
• Monthly income needs
• Shareholder loans
• RRSP funding
• Education funding