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Many small individuals start with a sole proprietorship avoid the costs of forming a corporation or LLC. This is usually a wise decision as statistics show that a lot of small businesses generate losses for the first several years.
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E is about EXPATRIATE. It is believed that will take a very $5 trillion dollars invested offshore, approximately one-third of the world's the big doggs. This strategy requires significant planning, because may be opportunities from Canada for you to invest, do business with perhaps retire to, that might give you significant tax saving benefits. Please be aware that CRA is practicing changing the laws to trace off shore investments.
If you add a C-Corporation for your personal business structure you can help to your taxable income and therefore be qualified for some of the deductions in which your current income is simply high. Remember, a C-Corporation is individual individual tax payer.
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