Session ideal for incorporated business owners who want to avoid costly tax surprises and use their corporation’s cash the right way.
Many business owners casually move money in and out of their corporation, assuming it’s simple or “easy to fix later.” In reality, borrowing from your company can trigger unexpected tax consequences if it’s not handled correctly.
This session breaks down how shareholder loans work, when they are allowed, and when they can become fully taxable. We’ll walk through common scenarios, such as personal withdrawals, paying personal expenses through the corporation, and timing issues around year-end, and explain how CRA views these transactions.
You’ll learn:
What qualifies as a shareholder loan and how CRA treats it
When a loan must be repaid to avoid personal tax
Common mistakes that lead to surprise tax bills
How salary, dividends, and shareholder loans interact
Practical strategies to clean up or plan shareholder loans properly
This session is ideal for entrepreneurs, incorporated professionals, and business owners who want to avoid costly tax surprises and use their corporation’s cash the right way.
Speaker Bio:
Vartika Satija, CPA, CA is an independent designated professional accountant, striving to work with small businesses to educate and provide a financial check up of their business. Her passion is to partner up with Sole Proprietors, Small Businesses and Non for Profits to provide ongoing guidance towards their unique Accounting and Tax requirements. Her mission is to ensure that small businesses are well educated and informed about the best tax and accounting practices to be able to manage their cash flows and utilize in the best possible ways that will help to grow their business, achieve their financial goals and make a difference in the community. Her intensive experience includes personal and corporate tax compliance, tax planning, and other business advisory and who have also been involved in all sorts of businesses such as manufacturing, consulting, professional services, constructions, retail, restaurants, real estate, and many more.
Website: www.vsatija.com
Email: vartika@vsatija.com