From business operations point of view, cash flow management means balancing your cash inflow with cash out flow or in other words striking a balance between payables and receivables. Some common techniques include encouraging payment on delivery, sending invoices on time, sending reminders where necessary, always monitor credit limits, use factoring services where possible.

From business operations point of view, cash flow management means balancing your cash inflow with cash out flow or in other words striking a balance between payables and receivables. Some common techniques include encouraging payment on delivery, sending invoices on time, sending reminders where necessary, always monitor credit limits, use factoring services where possible.

Employees vs independent contractor is an important classification and misclassification can put you or your company at odd with CRA. There is no definition in the act for employee or contractor and there fore it is the matter of fact. CRA base their classification around control. If in doubt, it is always good to sort if out.

You are obligated by law to report you true income to CRA. You are obligated to pay the tax owing to CRA on time and you are obligated to file a tax return with CRA on time.

You are obligated by law to report you true income to CRA. You are obligated to pay the tax owing to CRA on time and you are obligated to file a tax return with CRA on time.

In the most general sense, if an individual is holding shares in a corporation or in a business, the disposition of those shares is reported as capital gain or loss.

There is not correct answer as it depends on your personal situation but in a most general sense an optimal combination must be established. Keep in mind that you should only opt for salary if you are working in the company.

Yes, you can put your spouse as an employee provided your spouse is actively working in your business. Actively could be full time, parttime or on call but there must be a role that you spouse is playing. CRA does look at related party payrolls with interest.

Yes, you can put your spouse as an employee provided your spouse is actively working in your business. Actively could be full time, parttime or on call but there must be a role that you spouse is playing. CRA does look at related party payrolls with interest.

Yes, you can pay your spouse for their services to the corporation. You must ensure that those services are business related and if the services cost over $30,000 in a year, your spouse must be registered for HST.