Strategic Compensation: Navigating Income Tax for Owners and Managers
Explore the intricate landscape of Canadian Income Tax accounting in the context of Owner and Manager Compensation with Beth Bendo, CPA, CMA, of Bendo Consulting Services. This course delves into key differentiators between salary and dividends, examining their tax implications at both individual and corporate levels. Discussions include the impact of compensation choices on a corporation's financial health, the role of tax rates, and considerations for both shareholders and corporations. Case studies offer practical insights into scenarios involving single, married, and unrelated shareholders, as well as varying corporate structures. Gain a comprehensive understanding of shareholder loan accounts, management fees, and intercompany transactions, equipping you to make informed financial decisions. Join us for an illuminating exploration of how compensation strategies intertwine with taxation to shape the financial landscape.
Key Topics discussed:
• Definitions, types, and facts about salary and dividends
• Taxation and payroll considerations from shareholder and corporate perspectives
• Transactions involving shareholder loan accounts, rental income, expenses, management fees, and intercompany transactions
• Case studies for single, married, and unrelated shareholders with diverse financial goals
• Impact of corporate structure on dividend types and tax effects
• Take-away summary of concepts for informed financial decisions
Reporter
Senior reporter for Petfood Industry, author of "Carpe Eat'um: Invasive Carp Cookbook," assistant at an Indigenous-woman-owned Spanish-immersion early learning center, returned Peace Corps volunteer
Partner at Bendo Consulting Services
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
