I live in Canada. I have been working as an independent consultant for a US company since Sept, 2017. They have been paying me into my Paypal account. My wife incorporated a business this year. In May, 2018, I became director of this business. Is it possible to consider my income from this independent consultancy (from May 2018) as the income of our business? If so, can I continue to receive payment in my name and then transfer it to our business?
Note: 1. we do not need this money right now. Our plan is to take the money out from the company as dividend during the years when we have low or no income, as this gives us some tax benefits.
- I thought of receiving the payment from the US company I am working for into our business account. But now they do not allow me to change the payment information.