Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
English EN

Pick a language

Canada Français United States of America English
cancel
Showing results for 
Search instead for 
Did you mean: 
GordonFreeman
New Member

Balance of salary vs dividends

To date, my spouse and I have been filling personal income.

Next year, I am starting an Incorporated business as a contractor.

Does Turbo tax help me balance what portion of the business income should be split between salary and dividends?

Can it help do this for corporate returns as well as personal returns at the same time?

For example, the personal tax free allowance could be paid out as salary, etc.

2 Replies
Ketata
New Member

Balance of salary vs dividends

Hi. I have he same question. It would be a must have feature before I buy the license. Pleasd keep me updated if you found the answer. Thanks.

TurboTax-Duncan
Level 6

Balance of salary vs dividends

Hi, thank you for using Intuit TurboTax Live Community

Neither TurboTax T1 nor TurboTax Business Incorporated (T2)  can calculate the optimum dividend and employment payment from a corporation. TurboTax Business Inc is designed for preparation of the T2 return only. Some users my use the T1 and T2 programs to test different scenarios but, neither TurboTax T1 nor T2 automates this process.

Hope this helps

v