Owner-Managed Businesses Part 1: How To Pay Yourself (Ep. 2)
Welcome to part one of a four-part miniseries where Frankie and Sarah will focus and highlight key areas of interest for business owners, like, operation liabilities, exit strategies, and family succession.
In this episode, Frankie and Sarah talk about different ways business owners can pay themselves, various tax benefits, and the drawbacks of dividends and income splitting.
Listen as Frankie and Sarah discuss:
- The difference between a salary and dividends
- Why there are tax implications when you spend business income freely
- How you can take advantage of tax benefits from dividends
- The benefits and drawbacks of income splitting
- What Tax On Split Income (TOSI) is
Resources:
Connect with Frankie Loreto and Sarah Netley:
- Courtice.BakerTilly.ca
- LinkedIn: Baker Tilly Canada
- LinkedIn: Frankie Loreto
- LinkedIn: Sarah Netley
- Call: (905) 579-5659
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