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  1. How to calculate net worth for incorporated professional?

    General Personal Finance Talk
    Greetings fantastic financially frugal friends of the forum. I have been trying to get my financial house in order after recently coming to the realization that paying zero attention to my finances has been a poor strategy for the past decade or so. Of course to plan ahead I must know where I...
  2. Should My Wife Incorporate

    General Personal Finance Talk
    Should my wife incorporate, will we see any tax benefit? My Income ~ $105,000 Wife Income ~ $160,000 No Children Currently I am an employee of a large firm so no chance to incorporate. Wife is self employed. Business Details: - Excluded from GST program due to nature of work - No employees...
  3. New Business Incorporation inquiry

    General Personal Finance Talk
    Hi All, I have recently done a federal incorporation for a company that i am considering starting that i plan on making a wealth management firm way later down the road. I am currently working towards my CFP and CIM designations and definitely have the entrepreneurial drive so I am seeking...
  4. Should my wife incorporate?

    General Personal Finance Talk
    My wife is self employed and earns between $70k to $100k. She is an optometrist and works on contract, so she doesn't have much for expenses, just usually to attend a few conferences and such each year. Would it make sense for her to incorporate? If so then why?
  5. Benefits of incorporation to the former proprietor

    Hey y'all, Just wondering if you could help me out with what sort of benefits accrue to the former proprietor when they incorporate. Just in general terms... nothing specific. In this case, the proprietor's business income is >400k (he draws about 1500 a week from the business to live on)...
  6. New to being "self employed" small business

    Hi everyone, I just recently found this forum and have done as much searching and reading-up as I can on my current situation. Will be concise, otherwise everyone will be TL;DR with this... - been working as "employee" at various IT jobs since 2003 - laid off early dec 2012, job hunting for...
  7. Retirement saving/investing within a corporation

    Hi, I am in a different situation than many folks since I am self employed and incorporated. Before I was incorporated, I was maxing out my RRSPs and have some TFSAs too. Now though, it has been pointed out to me that being incorporated, I have the option to pay 15% corporate tax, and then...
  8. Possible to expense rent?

    Hi, I'm a contract engineer being hired on a 9 month job through my incorporated company. I'll have to find a place near the job where I'm to spend the weeknights, but I'll be home for the weekends. Can I expense the rent on this place? Utilities, internet, etc.? The stuff I've read online...