can I report my salary as an operating expense?

Question

2752 viewsNovember 27, 2018Business Tax

0

S Khan (anonymous) Posted November 27, 2018

As a sole director of my corporation, can I report my salary as an operating expense and if I do so
then do I have to report my salary amount as an income on my personal return even though I am not
showing any profit on my corporate return?

1 Answer

score 0 · Answer 1 · 2018-11-27T15:37:03+00:00

Yes, you can have your company pay you a salary and your company can claim a tax write-off for the salary paid. You must include the salary you received in your personal income.
Note: payroll taxes must be deducted by your company from salary payments made to you.

can I report my salary as an operating expense?

1 Answer

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