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AFAIK Canada does not have U.S.-style LLCs with pass-through taxation. This means you're most likely to be taxed twice: corporate tax on your corporation's prof
by kijin 9y ago
AFAIK Canada does not have U.S.-style LLCs with pass-through taxation. This means you're most likely to be taxed twice: corporate tax on your corporation's profits, and income tax on your salary and/or dividends.
The sum of these two taxes might or might not be lower than income tax on a sole proprietorship depending on your level of income and how you categorize your expenses. Usually, the more money you make, the cheaper it is to incorporate.