Paying salary from corporation that forces a loss
Long story short I need my personal income to be >=$110,000 for 2017 for credit (i.e. investment properties) purposes, to be safe. I both work for another company and own a corporation. I anticipate I will hit around $100,000 for 2017 but may be short $10,000.
My plan is to write myself a salary/bonus for that extra $10,000 (more the better), but this would theoretically force the corporation into a loss for the year. Can I do this? Yes I'll be taxed hard on my personal side, but the opportunity cost of not getting into the investment opportunities would exceed the extra tax I pay. On the bright side, I can carry the loss on the corporation side into future years.
I also have various business expenses I want to put on the corporation side instead of my personal, so I do not drop my Net Income on my personal tax return.
My plan is to write myself a salary/bonus for that extra $10,000 (more the better), but this would theoretically force the corporation into a loss for the year. Can I do this? Yes I'll be taxed hard on my personal side, but the opportunity cost of not getting into the investment opportunities would exceed the extra tax I pay. On the bright side, I can carry the loss on the corporation side into future years.
I also have various business expenses I want to put on the corporation side instead of my personal, so I do not drop my Net Income on my personal tax return.
Accountant (Public Practice)