[FurnaceFace]

I contract (IT project manager). Setting up a corporation isn’t tough, I used an online service. Applying for GST is also pretty straightforward. Depending on the opportunity most recruiters seem to want you to be incorporated, it makes things cleaner for them and the company I think.

Salary vs dividends vs shareholder loan are decisions best made with your financial advisor and or accountant. If you’re older and paid into CPP for years then salary might make the most sense. I think it’s important to figure out how much you need on a monthly basis to live+savings and use that as your draw from the corporation.

Corporate bank accounts are inexpensive to setup.
I use wave accounting (waveapps.com) to managing day to day and payroll.
I’m very conservative on what I claim as expenses.

I’m also a bit of a do it yourself guy when it comes to taxes and wanted to do my own year end so I understood it. I’ve kept doing it myself and this I manage fine. Locke does a ton of accounting services for contractors and can help if you want someone to deal with that side.

Contracting has good and bad parts to it but I’ve enjoyed it for the most part over the past few years...other than this last year, that’s been tougher of course.