Hi
I need to issue dividends for my company. I have some questions:
1. TurboTax Business Incorporated has a way to record dividends paid but I don't know how to issue the tax slip so CRA knows about the dividend being issued by the corporation to its shareholder. How do I do this in TurboTax Business Incorporated? If I cannot use this program to issue the dividends then can someone please provide a good resource which shows how to do this outside of Turbotax?
2. The corporate fiscal year ends in Aug. The personal taxes are filed based on the calendar year. This means that I will have to issue two dividends - one for corporate year 2023 to 2024 (Jan 2024 to Aug 2024) and another for corporate fiscal year 2024 to 2025 (Sept 2024 to Dec 2024). Is this the correct approach?
Thank you