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Podcast: DebtMatters Podcast
Episode: 68 - Self Employed Individuals and Income Tax Implications
Description: When you decide to start your own business, you must consider the type of business structure that best suits your needs. The most common forms are either a sole proprietorship or a corporation. Both have different tax benefits and implications. Licensed Insolvency Trustee, Glenn Steiner talks about the differences between sole proprietorship and corporations. The advantages and disadvantages of being a director of a corporation or choosing to be a sole proprietor. Topics covered in this podcast include:Tax filing and source deduction remittances to the CRAPersonal liabilities for debt as a sole proprietor vs a d...