Commissions
Moderator: Mark T Serbinski CA CPA
Commissions
I am working as an outside sales agent for a company. They require I set up a numbered company and payment will go to my company. Since I only earn commissions, I would like to know how I would should pay myself over the course of the tax year?
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- Posts: 14
- Joined: Tue Oct 13, 2009 7:00 pm
Ken, are you a Canadian or American? Paid by a Canadian or American enterprise?
Probably irrelevant, as you will want to obtain professional advice either way.
For example, in Canada, your first concern will be all options available to you in setting up the corporation, especially with respect to current and future income splitting opportunities and risk management considerations.
You will also want to ensure you've addressed GST and provincial sales tax issues.
Even with regards to paying yourself, a 30 minute conversation with a professional will be far more productive than exchanging questions/answers (and personal information) on an internet forum, which would probably be more conducive to more specific questions.
Probably irrelevant, as you will want to obtain professional advice either way.
For example, in Canada, your first concern will be all options available to you in setting up the corporation, especially with respect to current and future income splitting opportunities and risk management considerations.
You will also want to ensure you've addressed GST and provincial sales tax issues.
Even with regards to paying yourself, a 30 minute conversation with a professional will be far more productive than exchanging questions/answers (and personal information) on an internet forum, which would probably be more conducive to more specific questions.
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- Posts: 14
- Joined: Tue Oct 13, 2009 7:00 pm