Full time permanent employee AND incorporating a company question
Hi all,
I am currently working at a big corporation in Montreal. I am a full-time permanent employee and I pay all the EI, Pensions, RRSPS, etc etc.
I want to get into affiliate online marketing and online selling business (open a shopify store and do affiliate marketing and receive commission on the side). So I was thinking of doing a corporation so like that I can save on taxes since I am already considered as high income.
My question is if I open this company, and I start doing some money. Let's say I lost my permanent full-time job because the company laid me off or what not. I would usually be entitled to receive Employment insurance benefits for 11 months because I lost my job. If I have a company on the side and earn money from that, will that impact me from getting any EI benefits? Will I still be able to apply to get EI benefits?
Has anybody been in this position before? How does that work? Can anybody please give me any advice? I wanted to call my accountant but felt like asking here before to have a heads up.
Thank you
I am currently working at a big corporation in Montreal. I am a full-time permanent employee and I pay all the EI, Pensions, RRSPS, etc etc.
I want to get into affiliate online marketing and online selling business (open a shopify store and do affiliate marketing and receive commission on the side). So I was thinking of doing a corporation so like that I can save on taxes since I am already considered as high income.
My question is if I open this company, and I start doing some money. Let's say I lost my permanent full-time job because the company laid me off or what not. I would usually be entitled to receive Employment insurance benefits for 11 months because I lost my job. If I have a company on the side and earn money from that, will that impact me from getting any EI benefits? Will I still be able to apply to get EI benefits?
Has anybody been in this position before? How does that work? Can anybody please give me any advice? I wanted to call my accountant but felt like asking here before to have a heads up.
Thank you