Gatchinskiy писал(а):а может кто нибудь прояснить еще разок, например контракт на 90-95К в год, что открывать self-proprietor or. incorporated? ... какие ключевые факторы рассмотреть чтобы определиться что открывать? ... прочитал теорию на официальном сайте, но как-то суховато- там...
Попробуем (в который раз) теперь так. Для наглядности использую задачку из мидтерма одного из курсов по бухгалтерии и финансам. Долго и нудно, зато результат нагляден. Начнём.
Patrick Brennan runs his own business, Brennan Consulting, an information technology (IT) consulting firm. Brennan founded the business ten years ago at age 32, and he has operated it successfully ever since. Currently, his business earns annual sales of $170,000 and nets annual income of $100,000 per year after all expenses. The firm is structured as a proprietorship, and Brennan withdraws the entire $100,000 as salary on which he pays income tax.
Brennan operated Brennan Consulting from his home for the first three years, but as his business grew he began leasing office space locally. His current lease agreement runs for another three years. Brennan is a very talented IT professional, which is why his business has prospered; however, he has a limited background in finance and accounting. He has one full-time employee who handles the phones, schedules his appointments, and does the bookkeeping and filing. The estimated value of his office equipment and computers is $10,000.
Brennan has turned to you for consulting advice.
...
Question 2 (8 marks)
Brennan is considering incorporating his business. Ignoring taxes for the time being, briefly explain to Brennan two general advantages that the corporation structure has over the proprietorship structure, and explain how these benefits apply (or don’t apply) to his particular situation. (4 marks)
Brennan has heard that one of the disadvantages of corporations is that they generate agency costs. Define agency costs for Brennan and explain how they would impact his decision to incorporate. (4 marks)
Один из возможных вариантов ответа, оцененный 8 баллами:
Question 2
a) One of the advantages which corporation has over the proprietorship is that corporation is a legal entity distinct from the owner(s). This makes the corporation’s life indefinite, unlike the proprietorship, which is limited by owner’s life. The shareholder(s) of the corporation can sell his shares to somebody else, while proprietorship is linked with the owner intrinsically. Another advantage is the owner’s limited liability: owner(s) of corporation liable only within his share in the company. Both advantages can be hardly applied to Brennan Consulting today’s situation.
b) Agency costs are costs associated with the separation management and ownership of the company, like costs of manager’s decisions made not in the best interests of the owner(s), and costs of encouraging management to act in the best interest of the owner(s). These agency problems do not seem to be relevant yet in the decision to incorporate Brennan Consulting, as the owner and the management will unlikely be separated regardless of the decision outcome.
Едем дальше.
Question 3 (13 marks)
Computer question
Brennan could continue to operate the business as a sole proprietorship and withdraw all the income in salary. However, he thinks there might be tax advantages if he incorporates his business. He would like you to evaluate the following three scenarios he has come up with for withdrawing income, using his current net business income of $100,000:
Withdraw all the income in the form of dividends.
Withdraw $50,000 in salary, thereby reducing the corporation’s taxable income to $50,000. He would then withdraw the other $50,000 in dividends.
Withdraw all income in the form of salary, thereby reducing the corporation’s income to zero.
Required:
Calculate Brennan’s after-tax income and personal tax rate for each of the four following scenarios (10 marks):
He continues as a sole proprietorship and withdraws all the income as salary.
He incorporates and withdraws all after-tax corporate earnings in the form of dividends.
He incorporates, withdraws $50,000 from the company in salary and the remainder of after-tax corporate earnings in dividends.
He incorporates and withdraws all income from the company, reducing the company’s income to nil.
Based on your calculations, comment on whether there is any tax advantage if Brennan incorporates. (3 marks)
Additional information
Assume Brennan’s business earns net income of $100,000 before taxes in all four scenarios. He has no other sources of income to consider.
Ignore any small business tax deduction considerations (not covered in this course).
Ещё один возможный ответ, за который было получено 13 баллов (layout сбит к чертям, но не в нём суть):
Question 3
a) Calculations of the after-tax income for 4 scenarios (CPP expense ignored):
1. Proprietorship 2. Incorporated 3. Incorporated 4. Incorporated
Employment 0% Employment 50% Employment 100%
Dividends 100% Dividends 50% Dividends 0%
Corporate income $0.00 $100,000.00 $50,000.00 $0.00
Less: Corporate taxes payable $0.00 $32,120.00 $16,060.00 $0.00
Net corporate income after taxes $0.00 $67,880.00 $33,940.00 $0.00
Employment income $100,000.00 $0.00 $50,000.00 $100,000.00
Dividend income $0.00 $67,880.00 $33,940.00 $0.00
DETAILED PERSONAL INCOME TAX CALCULATIONS
Income:
Employment (proprietorship) income $100,000.00 $0.00 $50,000.00 $100,000.00
Dividends (grossed up) $0.00 $98,426.00 $49,213.00 $0.00
Taxable income $100,000.00 $98,426.00 $99,213.00 $100,000.00
Tax calculations:
Federal & provincial tax payable $28,745.30 $28,147.18 $28,446.24 $28,745.30
Less: dividend tax credit $0.00 $26,545.49 $13,272.75 $0.00
Net tax payable $28,745.30 $1,601.69 $15,173.49 $28,745.30
SUMMARY OF PERSONAL INCOME AND TAX RATE
Total income $100,000.00 $100,000.00 $100,000.00 $100,000.00
Less: net tax payable $28,745.30 $33,721.69 $31,233.49 $28,745.30
After-tax income $71,254.70 $66,278.31 $68,766.51 $71,254.70
Personal tax rate 28.75% 33.72% 31.23% 28.75%
b) Based on these calculations, there is no obvious tax advantage of incorporating the business. However, these calculations do not include impact of CPP contributions to be made. Depending on CPP rates, there might be some tiny tax advantage in the scenario number 4 over the scenario number 1.
Кому лень читать и считать всю эту лабуду,
в двух словах: пофигу. Тьфу, слово только одно получилось... Тогда объясню, почему так получается: канадская налоговая система так устроена.
серьезно - учебники дело хорошее, но использовать их для практических ситуаций -дело неблагодарное. вот вам еще задачка - специалист по сетям Василий делает 200К в год. сети админит в основном из дома, но за год набирается еще около десятка разных клиентов. Короче, корпорация не попадает под PSB, но попадает под определение CCPC и SBD eligible. Корпорацию планирует организовать 50% на 50% с любимой женой Марусей, которая нигде в настоящий момент не работает. Дивиденды(попадают в категорию eligible dividends) так же планируется платить пополам.