Consulting via corporation, should I do it?
I have a side part-time job which earns me about 20k/year in supplemental income. It brings my yearly income from 80k->100k.
Would it make sense to ask my employer to pay me instead through my corporation? I'm asking from my personal tax perspective and my employer's perspective.
To note, my corporation has been inactive for 10 years and because it's 20k/year there are no HST implications (I never earned enough to pay HST). I also would in theory want to pay myself via dividends -- does this make sense?
Would it make sense to ask my employer to pay me instead through my corporation? I'm asking from my personal tax perspective and my employer's perspective.
To note, my corporation has been inactive for 10 years and because it's 20k/year there are no HST implications (I never earned enough to pay HST). I also would in theory want to pay myself via dividends -- does this make sense?