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 dayna142 Putting away for taxes 04-07-2013, 08:04 PM
 bright sparks Really Blue Rose thats an... 04-08-2013, 07:07 AM
 playfelt I try my best to budget for... 04-08-2013, 09:09 AM
 Vtorrance Ok so I feel dumb for taking... 04-08-2013, 11:41 AM
 dayna142 I was told to put away 30%... 04-08-2013, 12:53 PM
 Crayola kiddies My accountant called today... 04-08-2013, 03:53 PM
 Fearlessbaby Hst 05-16-2014, 01:24 PM
 5 Little Monkeys I don't know about... 09-05-2014, 01:19 PM
 Spixie33 LOL 5LM - about the... 09-05-2014, 01:30 PM
 5 Little Monkeys It's probably quite simple to... 09-05-2014, 01:35 PM
 Rachael Similar - we're allowed 6... 09-05-2014, 01:42 PM
 Busy ECE mommy I paid about $5000 last year,... 09-05-2014, 01:51 PM
 5 Little Monkeys I'd have to pull out my... 09-05-2014, 02:44 PM
 Secondtimearound Truly ????? I thought with... 09-05-2014, 03:12 PM
 5 Little Monkeys I don't have an assistant but... 09-05-2014, 07:54 PM
 Secondtimearound My accountant advised me to... 09-08-2014, 02:46 PM
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Although paying an assistant will be a business expense, don't forget that as their employer, you also have to pay 3% of their CCP and you are responsible for deducting their s, topages - tax, employee CPP contribution, EI, etc. You certainly won't be able to deduct more than it cost you, presuming to can recoup the entire expense as a tax deductible. The best that will happen is these employee costs will come off your gross business income, reducing your nett business income and therefore reducing your personal gross income. If you are lucky, it might save you from being in a higher tax bracket but that's all.
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