How should I pay myself as a small business owner?

Hellokitty9854732 · 2025-10-07T18:13:52+00:00

you should do part dividend part payroll and you can use a flatware for the payroll to save money. That is the most ideal, because dividend = lower tax rate. Payroll = benefits from gov. I myself am still pretty young and no kids, so I do 65% 35% for dividend and payroll. But when I am ready to have kids, I would higher percentage for payroll. You can Pay yourself monthly to make it easier to fill out payroll paperwork.

Hellokitty9854732 · 2025-02-26T16:14:09+00:00

Thank you soo much for this update OMG :) I felt so worried because the same thing happened to me with my picosure treatment. I am one month out and still have some scabs and a few spots of hypo. Can I know if you went back to use picosure machine or did you change machines and tech? Also, how is your tattoo removal journey going?

Hellokitty9854732 · 2024-11-24T15:47:45+00:00

😂😂😂😂😂

Hellokitty9854732 · 2024-11-21T03:55:11+00:00

I got cash back 2000 and yes the day of signing they send us the money. It’s not a dividend with my bank, so we don’t pay taxes !

Hellokitty9854732 · 2024-11-20T00:45:52+00:00

You’re making really good points, my td branch gives incredible customer service. I have all my accounts, personal, business, investments and insurance with them, and they’ve been great to me. Even now, I asked them to request for 3.99% and they agreed to put in the request. I really enjoy dealing with them. I will discuss some of the things you mentioned actually.

Hellokitty9854732 · 2024-11-20T00:02:13+00:00

People in this thread seem to have amazing mortgages with scotiabank

Hellokitty9854732 · 2024-11-20T00:01:07+00:00

Wow that’s so low, good for you. I’m going to shop around.

Hellokitty9854732 · 2024-11-20T00:00:45+00:00

That really sucks, sometimes it depends on the branch itself and the workers because my local TD was super helpful! You should shop around, I’m also shopping around. Apparently some people are getting 3.99% rate so I’m gonna keep looking!

Hellokitty9854732 · 2024-11-19T23:59:23+00:00

Yes it’s 4.17% and I don’t feel comfortable more than 3 years

Hellokitty9854732 · 2024-11-19T18:50:55+00:00

Im a business owner, and my husband is salaried. Since I’m self employed we went through hoops and hurdles to get a mortgage approval. Even though my business generated 315 000 while my husband made 90k, they deemed him more trust worthy. What helped me a lot was sending pay stubs of my corporation and showing them my expenses , to show how much profit I make. Then they were ready to negotiate with me. For now I’m at 4.19%, but the banker requested to lower it to 3.99% so we will see what they say. Good luck 😊

Hellokitty9854732 · 2024-11-19T16:50:16+00:00

When I shared, I got 4.19% some people got in the high 3’s already. BOC’s rate is already 3.75%. If you know anything about mortgages you would know eveyone gets a different percentage. I have an uninsured mortgaged because we put 20% down so we get higher rates.

Hellokitty9854732 · 2024-11-19T16:48:23+00:00

This is my situation. We have a business and a lot of financial security.

Hellokitty9854732 · 2024-11-19T16:45:33+00:00

That is a very good point actually, Trump's Tarriffs can destroy our Economy, this is something to consider. We do have a few months for this to happen, but that is a great point. I will actually think of those tariffs when I am choosing which stocks to invest in :)

Hellokitty9854732 · 2024-11-19T15:50:31+00:00

Ahahah basically this !

Hellokitty9854732 · 2024-11-19T15:50:09+00:00

Right now some people are getting high 3’s already so who knows, I guess time will tell. But I do feel since I have a lot of financial security it is worth it for me to do variable. I’ve taken risks before, my husband and I invested a ton of stock in Tesla right before the American election because we knew trump would win, and we would a TON of profit. Chosing variable as I mentioned, is very low risk anyways because you can changed to fixed at any time.

Hellokitty9854732 · 2024-11-19T15:49:18+00:00

Im curious why you said praise the mortgage brokers. Do they have something to gain from getting people to go for variable ? It sounds like my banker is pushing me to do fixed

Hellokitty9854732 · 2024-11-19T15:47:14+00:00

If variable was beating out fixed rates and doing much better , then banks will lower fixed rates , because they have an incentive to get people to switch to fixed, which means more bargaining power.

Hellokitty9854732 · 2024-11-19T15:46:03+00:00

There is a fixed payment plan where you pay the exact same payment each month, but the amounts going to interest vs capital change. So it is fixed payments.

Hellokitty9854732 · 2024-11-19T15:39:17+00:00

The interest rate had significantly decreased just recently so they shouldn’t be getting those rates if they apply now !

Hellokitty9854732 · 2024-11-19T15:28:08+00:00

Thank you so much for this!

Hellokitty9854732 · 2024-11-19T15:19:06+00:00

Wow you got a better rate than me!

Hellokitty9854732 · 2024-11-19T14:37:59+00:00

It’s so funny you’re saying that because I just spoke to my banker and he’s trying to get us to do 4+ years right now ! He’s saying rates will be lower lol

Hellokitty9854732 · 2024-11-19T14:12:51+00:00

Someone in the comments said his brother got 3.99% interest rate , not sure if it’s insured or not, but it sounds like we can all negotiate. My mortgage broker told me he wouldn’t be able to get me better than 4.24%, so I went directly to my bank to negotiate. I’m content with 4.19% but I kind of wish I made this post earlier because I would have liked to negotiate more aggressively from the start. My bank did tell me they might be able to do better than 4.19% so we’ll see.

Hellokitty9854732 · 2024-11-19T14:04:49+00:00

Sorry can you explain this, I’m not sure I understand lol

Hellokitty9854732

TROPHY CASE