More cash for you each week
We have a client with a long standing profitable family business, started by Dad, which is now run by his sons. The sons have large mortgages and small kids so need more cash in the hand every week.
The solution was to do some salary structuring. Instead of paying large salaries that attracted high levels of business on costs (such as payroll tax and workers comp), we restructured their payments as a combination of salary and dividend, of course still ensuring that they were paid market salaries.
The salary repackaging gave each of the sons an extra $350 each week in the hand after all taxes had been paid. This certainly helped with the family budget.