GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Corporations in Canada

WiredGuy · 10-26-2007, 06:17 PM

Thats not double taxation. When you take a salary from the corp to yourself, thats a deduction for the corporation.

Example: Corp makes $300k in profit before you take a salary. You take $100k salary. The corp is only going to pay taxes on the $200k and you pay personal taxes on the $100k.

The $100k will be subject to the highest tax bracket since its personal income, but the $200k will be subject to nearly half as much taxes since its a corp.
WG

10-26-2007, 06:17 PM
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,504	Thats not double taxation. When you take a salary from the corp to yourself, thats a deduction for the corporation. Example: Corp makes $300k in profit before you take a salary. You take $100k salary. The corp is only going to pay taxes on the $200k and you pay personal taxes on the $100k. The $100k will be subject to the highest tax bracket since its personal income, but the $200k will be subject to nearly half as much taxes since its a corp. WG __________________ I play with Google.