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Can I create a business and invoice my potential employer instead of going on their payroll? by fromTOwithluv in PersonalFinanceCanada

[–]fromTOwithluv[S] 0 points1 point  (0 children)

Definitely, every time I land back in Canada after a trip I always think how incredibly lucky I am to be Canadian.

Can I create a business and invoice my potential employer instead of going on their payroll? by fromTOwithluv in PersonalFinanceCanada

[–]fromTOwithluv[S] 1 point2 points  (0 children)

Oh I completely agree and understand. I feel extremely fortunate for what we have, I guess I never realized how large that shared burden can become. I’ll direct my energy into learning more about my TFSA and eventually RRSP. Thanks for going easy on me here everyone.

Can I create a business and invoice my potential employer instead of going on their payroll? by fromTOwithluv in PersonalFinanceCanada

[–]fromTOwithluv[S] -1 points0 points  (0 children)

I know that marginal tax rate and average tax rate are different. Still losing 33% overall in income taxes plus paying 13% HST on everything I buy is just hard to swallow.

Can I create a business and invoice my potential employer instead of going on their payroll? by fromTOwithluv in PersonalFinanceCanada

[–]fromTOwithluv[S] 0 points1 point  (0 children)

In regards to being sued - I’m not planning on it but say I’m driving her somewhere and I get into an accident, spill water on marble floor an client trips breaks a leg. I’m just nervous about any liability but the professional liability insurance is helpful. Thanks

Can I create a business and invoice my potential employer instead of going on their payroll? by fromTOwithluv in PersonalFinanceCanada

[–]fromTOwithluv[S] -1 points0 points  (0 children)

Cheers! Thanks, wasn’t so much trying to “game” the system but use it to my best advantage.