They should speak to an accountant. He should not be bringing home 16k/mth it should be enough to hit RRSP cap rest should be left in prof corp to be invested. Can dividend out at year end if they need a bit more income. Likely the safest way, can also do an IPP conversion at retirement if went this way. Will be taxed at almost 50% if they do this personally vs. 11%-23% through prof corp.
Her head is in the right place. Her and her husband's salary will also go up. As they invest in real estate, they will get residual income from rentals and some flips along along the way. Real estate can become its own beast if you can get an apartment building or a commercial location. Look into consulting job as an actual business to get the tax benefit. I'd highly recommend getting real estate in both the US and Canada. These people should not need to work past the age of 40 😂😂😂
You guys asked amazing questions, which really helped me get a full understanding of the situation and her potential avenues.
I started my finance channel thanks to inspiration from your videos, it’s the best thing I’ve ever done ✨❤️
They should speak to an accountant. He should not be bringing home 16k/mth it should be enough to hit RRSP cap rest should be left in prof corp to be invested. Can dividend out at year end if they need a bit more income. Likely the safest way, can also do an IPP conversion at retirement if went this way.
Will be taxed at almost 50% if they do this personally vs. 11%-23% through prof corp.
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Can they rent the kite serfing equipment? That’s a lot to spend on equipment they may use only a handful of times or even once a year…
Her head is in the right place. Her and her husband's salary will also go up. As they invest in real estate, they will get residual income from rentals and some flips along along the way. Real estate can become its own beast if you can get an apartment building or a commercial location. Look into consulting job as an actual business to get the tax benefit. I'd highly recommend getting real estate in both the US and Canada. These people should not need to work past the age of 40 😂😂😂
They aren’t married. They need to keep it all separate.
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