Quote:

---

Originally posted by Garvo Gujarati

The simple reason is that the corporate income tax is lower than individual income tax.

---

-----------------------------------------------------------------
Mumbai Maazi Ladki ...

Thanks for the replies, guys.

Another question - if I register my own corp. and the company pays the corp, and I pay myself through the corp, I assume that I should only pay myself the bare minimum (in order to minimize personal taxes) - right?

If so, the rest of the money stays in the corp. unused - right?

What happens to that money?

Can I use it in any way?

What happens if I decide to dissolve the corp, at some point - can I pay myself all that cash?

If so, what's the impact?

Thanks.

Quote:

---

Originally posted by OneIsACrowd

I assume that I should only pay myself the bare minimum (in order to minimize personal taxes) - right?

---

Quote:

---

Originally posted by OneIsACrowd

What happens if I decide to dissolve the corp, at some point - can I pay myself all that cash?

---

-----------------------------------------------------------------
Mumbai Maazi Ladki ...

And that will be your income at that point of time. This is a negative aspect. However once you stop earning for the corporation, you can still keep it running (with no income) but still can have expenses and so you can reduce your financial burden.

It is better to optimize it in such a way that you take enough salary and keep enough money in the corporation.

Please note - I am not an expert on this and may have made mistakes, so better wait for some expert on this to respond.

-----------------------------------------------------------------
A Proud Indian Canadian

Now a question about rates - I am being offered $60/hr. as a developer.
Platform is Microsoft .NET for Embedded Systems.
The company hiring contractors is building a system for a large Canadian corporation.

Is this a fair rate for someone with ~ 7 - 8 years of design and development experience?

Should I ask for more, and if so how much?
I don't want to kill the job, neither do I want to provide my services for less than premium (esp. since I will be sacrificing the security and benefits of a permanent job).

Also, what are some other things I can ask for or negotiate on - for example, is mileage usually re-imbursed?
What about highway tolls (407 ETR, etc.)

I heard rates of 50-60 for regular (ie not embeded) .net development for the same yrs of experience. But this was when going through large recruiting firms.

My guess is that embedded should command more of a premium so you could slightly higher than 60?

That's a call you'll have to make because i dont think you'll find too many people with .net embedded experience here.

Good luck!

Rate I think depends more on Agency. There are some Agencies that I know offer low rate to contractors than their counter parts for same position.

Eventual Client also makes difference. Government rate is ofcourse higher. Banks I think to my knowledge are average to lower.

60 sounds good. You can always bargain on renewal !!!

-----------------------------------------------------------------
Mumbai Maazi Ladki ...