What are the main advantages of getting paid as a business vs employee?
You hear of people so happy they set up a company so they can control their income more for tax purposes. But doesn't CRA offer more tax advantages and deductions for personal income vs business income? Are they using a company mainly to control liability? Sure they can structure their income much lower to minimize taxes, maybe the company can buy their house and car and pay for clothing and other expenses. So are the writeoffs much better with a company? Certainly an employee can't write off a new suit but a business can have clothing expenses. What do you think? And are most people really glad they went this direction?