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Anonymous

Hi Allan,

We moved from India to NB, Canada 10 days back. I would really appreciate some advice. My husband has 2 IT products. One product is a pre-packaged software and other product is also a pre-packaged software but we do provide customization services for this product. Both products have combined profit of 60000 cad per annum. We are planning to incorporate, one of our product as we would like to try to raise some funding. I work for both companies but I do not take any salary. So, officially I am unemployed. We also pay a fee of 220 cad for office to an incubator. Please read my questions below-

1. Should we incorporate both companies separately? Should we keep one of them a sole proprietorship so we can show home office, home internet etc.. as office expense.

2. If we incorporate, should my husband take a salary or dividend. We are not planning to apply for loans or saving for pensions etc..

3. How can we use my unemployment to save taxes?

4. How much taxes can we expect to pay at the end of the year.

Thank You