If you are self-employed, and your business is incorporated, you can choose how to pay yourself: salary, dividends, or both. There are pros and cons for both and you should choose one based on your business income level, cash flow, and other circumstances surrounding your business. Salary:  You contribute to CPP for the future You…

When we look at financial statements, we are able to understand the financial status of the business. Regardless of what language is primarily spoken in the business entity, accounting is the common language that connects us to the business without hindrance. Accounting tells us how profitable your business is, what you can expect from your…