-
How Corporate Taxes Work in Canada 🍁 | Learn the Benefits of Incorporating📈
This is Part 2 of our two-part series on how Canadian taxes work.
Joe explains the key tax concepts about running a business through a corporation in Canada.
In the video, we answer the questions:
► How are corporations taxed?
► What are the tax benefits of incorporating your business?
► How to pay yourself from your corporation?
► What are the common pitfalls that we see with corporations?
► What are some disadvantages of corporations?
PART 1 | PERSONAL TAXES
Check out part one of our series on Canadian taxes here:
► https://youtu.be/SM2gD_K9JBA
******************************
✅ Sign up for our newsletter here: https://www.avalonaccounting.ca/weekly-tax-tips
******************************
🎥 CONTENTS OF THIS VIDEO
00:00 - Intro
01:03 - Introducing Pam
01:31 - Your Corporation Is a S...
published: 05 Apr 2023
-
Registering A Corporation In Canada Under 30 Minutes | How To Register Business Canada |🔥
#Registering A Corporation In Canada Under 30 Minutes | How To Register Business Canada |🔥
For many starting the entrepreneurial journey one of the first logical step is Registering a corporation in Canada and this can be done on own under 30 minutes. In this video I am showing how I went about doing Registering a corporation in Canada on own under 30 minutes which will give confidence to you too.
All I did was to follow the instruction given on website, once the details were filled Registering a corporation in Canada confirmation I got within 24 hours
Since It is single ownership company, it was easy and straightforward.
I am sharing links to the website which will help you with your registration. Do spread the good word and help those wishing by telling that Registering a corporatio...
published: 17 Oct 2020
-
Holding Company in Canada | What is it for?
The MORE Subscribers we have the MORE videos we can post, so please SUBSCRIBE http://bit.ly/AVASUB, hit the 🔔 and LIKE this video. THANK YOU!!!
If you are looking to incorporate and want to save some cash, check out Ownr with our affiliate link: http://bit.ly/OWNRAVA
Holding Company in Canada | What is it for? Check out our blog for the text version: https://bit.ly/HoldCo
Suggested Video: How to Pay Yourself from Your Corporation | Dividends vs. Salary: http://bit.ly/AVADIVSAL
Want to Run Your Payroll for Free? How to Run Your Own Payroll in Canada for Free: http://bit.ly/FREEPAYROLLCAN
******************************
Connect
* Website: https://www.avalonaccounting.ca/
* Facebook: https://www.facebook.com/avalonaccoun...
* Instagram: https://www.instagram.com/avaloncpa/
* LinkedIn: ...
published: 23 Feb 2021
-
WHY You SHOULD START a BUSINESS in CANADA | Tax Benefits of Self-Employed | Canadian Business Guide
WHY SHOULD I START My OWN BUSINESS in CANADA? What are the BENEFITS of Business Income? How Can I SAVE TAXES Being Self-Employed? How Can I Build Wealth and Reach Financial Freedom? Should I Open a Corporation or a Sole-Proprietorship?
I will be breaking down WHY You SHOULD Start YOUR OWN Business in Canada! Whether you just want to run a Side-Business, be fully Self-Employed or even open a Corporation, I’ll go over all of the benefits of running a Canadian Business. I’ll be focusing on the Tax Benefits and Income advantages of running a business but I’ll also talk about the non-monetary aspects. I’ll show you that anyone can start a business but I will also point out some issues that all entrepreneurs should be aware of! This will be the first video in my Canadian Business Guide so stay ...
published: 21 Mar 2021
-
How to Pay Yourself from a Corporation in Canada | Salary vs Dividends
We work with business owners across Canada and we're often asked about the difference between salary and dividends. If you own a business through a corporation, you have the ability to pay yourself a salary, dividends or a combination of the two.
We look at the difference between salary and dividends and the main advantages and disadvantages of each. Plus we go over our model (spoiler alert it's a bit of both) and why that works best for us.
Not everyone has the same business, financial, or lifestyle goals and there are a lot of moving pieces and things to consider. Luckily we like talking about this stuff, so give us a shout if you have any questions.
Connect
* Website: https://www.avalonaccounting.ca/
* Facebook: https://www.facebook.com/avalonaccoun...
* Instagram: https://www.ins...
published: 13 Jul 2020
-
Dissolving a corporation in Canada – How, When, Why?
Dissolving a corporation in Canada – How, When, Why?
1. Corporation is not a physical being and so it cannot die on its own. There are multiple ways in which a corporation can cease existing:
a. amalgamation – it being combined with another corporation creating a new entity, or assimilated by another corporation;
b. dissolution,
c. being cancelled by the registrar for non-compliance with laws and more.
2. When we want to close down our corporation in Canada, or stop using it, the proper way would be to dissolve it. The process of dissolution includes four main steps and might result in certain consequences that we as business owners should be prepared for.
a. Internal resolutions of corporate shareholders and directors in support of the dissolution. Additionally, the corporation mus...
published: 05 Mar 2021
-
Incorporating a Business in Canada: Corporation vs. Sole Proprietorship
Should you be incorporating your business or should you stay a sole proprietorship in Canada? That's one of the most popular questions I've been getting from all of my different small business and tax videos over the years. And finally, I'm here to provide some answers!
I ran my business as a sole proprietorship for 5 and a half years, even though I felt a lot of pressure from other business owners to incorporate. It's now been over a year since I incorporated my business, and I've gotta say, I'm so glad I waited (no regrets!).
Although I provide the pros and cons of incorporating, it's really a personal decision and one that working with an accountant can help you figure out. Hopefully, this video provides some insight and helps you make the right decision for you!
CHAPTERS
00:00 Intr...
published: 02 Sep 2022
-
Salary vs Dividends Canada | Best Way to Pay Yourself From A Corporation In Canada
■ 💸Not sure If you are on the right path in saving?
💪 Download this FREE Financial Clarity Checklist:
https://finance.thomascchan.com/5steps
■ 💰Book a 30 min Complimentary Consult with Thomas 🕵
https://finance.thomascchan.com/consult
#Salary #Dividend #smallbusinessowners
Salary vs Dividends Canada | Best Way to Pay Yourself From A Corporation In Canada
Chapters:
00:00 intro
1:05 Salary or Dividend?
4:41 Salary pros & cons
5:57 Dividend pros & cons
So dividends vs wages, should you pay dividends or wages as a business owner? Or… is it better to take wages or dividends when you are a small business owner? You know, wages or dividends is a very summon topics that circulate in crowds, people talk about wages vs dividends, and there are lots of business advice about small business ti...
published: 04 Dec 2022
-
How to Move your Business to Canada in 2024
Are you ready to take next steps?
🔗 https://bit.ly/scheduleyoursobirovsstrategymeeting
🌏 In this episode, we'll guide you through moving your business to Canada in 2024. 🇨🇦 Learn about immigration requirements, navigating business regulations, and seizing opportunities in the Canadian market. Join us as we simplify the process and help you pave the way for your business's successful relocation.
️ 🗓️ Date: Wednesday, February 28th, 2024
🕥 Time: 10:30 AM EST
🔍 Key Moments In This Episode:
00:00 - Introduction and disclaimer about general information.
00:40 - Introduction to specific business immigration pathways.
01:18 - Overview of federal business immigration programs and provincial nominee programs.
01:44 - Details on Startup Visa Program and C11/C10 significant benefit work permit.
...
published: 29 Feb 2024
-
Incorporate a business in Canada 2023 | Registering a corporation
Incorporate a business in Canada 2023 | Registering a corporation
We had arrived in Canada in August, and just after a month, in September, I incorporated my IT software business as a limited company. I did a bit of research, watched a couple of videos on YouTube and just did it myself on the same day in less than 30 minutes. If I can do this, you can also do this on your own.
There is no need to visit any Govt. Office. The process is straightforward and can be done online while being anywhere in the world.
All the steps are mentioned and well explained on the Canada, CRA Business official website, and trust me it is very simple.
Registering a corporation in Canada https://www.canada.ca/en/services/business/start/register-with-gov/register-corp.html
Federal Incorporation
https://www.c...
published: 19 May 2023
12:10
How Corporate Taxes Work in Canada 🍁 | Learn the Benefits of Incorporating📈
This is Part 2 of our two-part series on how Canadian taxes work.
Joe explains the key tax concepts about running a business through a corporation in Canada.
...
This is Part 2 of our two-part series on how Canadian taxes work.
Joe explains the key tax concepts about running a business through a corporation in Canada.
In the video, we answer the questions:
► How are corporations taxed?
► What are the tax benefits of incorporating your business?
► How to pay yourself from your corporation?
► What are the common pitfalls that we see with corporations?
► What are some disadvantages of corporations?
PART 1 | PERSONAL TAXES
Check out part one of our series on Canadian taxes here:
► https://youtu.be/SM2gD_K9JBA
******************************
✅ Sign up for our newsletter here: https://www.avalonaccounting.ca/weekly-tax-tips
******************************
🎥 CONTENTS OF THIS VIDEO
00:00 - Intro
01:03 - Introducing Pam
01:31 - Your Corporation Is a Separate Entity
01:48 - Limited Liability
02:14 - The Concept of Integration
02:41 - Tax Benefits of Incorporating
02:50 - Lower Tax Rates
03:34 - Lifetime Capital Gains Exemption
04:37 - How Income Is Taxed in Your Corporation
04:45 - Active Business Income
05:00 - Small Business Tax Rate and CCPCs
06:06 - Investment Income in a Corporation
06:53 - How to Pay Yourself From Your Corporation
08:13 - Disadvantages of Corporations
08:27 - Increased Administration and Compliance Costs
08:41 - Missed Personal Tax Credits
08:57 - Losses Can Be Difficult to Use
09:33 - Tax Pitfalls for Corporate Businesses
09:45 - Inadequate Tax Planning
10:12 - Passive Income Limits
10:29 - Corporate Assets for Personal Use
10:50 - Pam and Incorporation
******************************
🔗 MENTIONED IN THIS VIDEO
► Lifetime Capital Gains
https://www.avalonaccounting.ca/blog/corporate-tax-rates-canada#toc-3
► Investment Income Tax Rates
https://www.avalonaccounting.ca/blog/corporate-tax-rates-canada#toc-14
► How To Pay Yourself From Your Corporation
https://youtu.be/jEBSotyZwU0
► Personal Use of a Corporate Vehicle
https://youtu.be/6Fz4hU8e9y4
******************************
🅰️ AVALON ACCOUNTING
Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada.
We provide online bookkeeping, accounting services and expert financial advice for small businesses.
We are on a mission to educate small business owners through our YouTube channel, blog and free resources. Check out our links below to dive in.
******************************
🧑🏫 ONLINE COURSES
► Take your business to the next level with our online courses.
https://www.avalonaccounting.ca/courses
✅ ESSENTIAL FINANCIAL CONCEPTS FOR SMALL BUSINESSES (🆓FREE COURSE)
► Keys to building a business that provides owners with time, money and purpose.
https://www.avalonaccounting.ca/courses/essential-financial-concepts-for-small-businesses
🖥️ LEARN MODERN BOOKKEEPING
► Learn to do your own bookkeeping with modern tools and our proven practices.
https://www.avalonaccounting.ca/courses/bookkeeping-with-xero-and-dext
📈 BOOKKEEPING AND TAX FOR FREELANCERS
► This course teaches sole proprietors how to simplify bookkeeping and taxes.
https://www.avalonaccounting.ca/courses/bookkeeping-and-taxes-for-freelancers
******************************
❓ FAQs
► What Can I Write-off? http://bit.ly/EXPENSESCAN
► Should I incorporate my business in Canada? http://bit.ly/INCORPCAN
► What is a shareholder loan? http://bit.ly/SHLOANCAN
► When and How Should I Hire an Employee? http://bit.ly/hirelikeapro
► Should I offer profit sharing? http://bit.ly/PROFITSHARECAN
******************************
💳 FLOAT VISA - $500 CASH BACK
Float Financial provides a company credit card built for modern businesses.
Check out our review for details
► https://www.avalonaccounting.ca/blog/float-credit-card-review
Use our referral link to receive $500 cash back
► https://tinyurl.com/floatvisa
We may receive compensation when our link is used to sign up for a Float Visa.
******************************
💼 20% OFF INCORPORATION WITH OWNR
If you are looking to incorporate (in Canada) and want to save some cash, check out Ownr with our affiliate link for 20% off incorporation costs:
► https://www.ownr.co/partners/avalon-accounting?gspk=avalon564
We may receive compensation when our link is used to sign up with OWNR
******************************
🧑🏻🏫 FREE BUSINESS GUIDES:
► Starting Your Business Guide:
https://joecollins.typeform.com/to/bcOpcE8R?typeform-source=avalonaccounting.ca
► Business Owner’s Productivity Guide:
https://joecollins.typeform.com/to/zJfbA48x?typeform-source=avalonaccounting.ca
► Financial Foundations Guide:
https://joecollins.typeform.com/to/jFOOltxF?typeform-source=avalonaccounting.ca
► $1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e26VYo7R?typeform-source=avalonaccounting.ca
https://wn.com/How_Corporate_Taxes_Work_In_Canada_🍁_|_Learn_The_Benefits_Of_Incorporating📈
This is Part 2 of our two-part series on how Canadian taxes work.
Joe explains the key tax concepts about running a business through a corporation in Canada.
In the video, we answer the questions:
► How are corporations taxed?
► What are the tax benefits of incorporating your business?
► How to pay yourself from your corporation?
► What are the common pitfalls that we see with corporations?
► What are some disadvantages of corporations?
PART 1 | PERSONAL TAXES
Check out part one of our series on Canadian taxes here:
► https://youtu.be/SM2gD_K9JBA
******************************
✅ Sign up for our newsletter here: https://www.avalonaccounting.ca/weekly-tax-tips
******************************
🎥 CONTENTS OF THIS VIDEO
00:00 - Intro
01:03 - Introducing Pam
01:31 - Your Corporation Is a Separate Entity
01:48 - Limited Liability
02:14 - The Concept of Integration
02:41 - Tax Benefits of Incorporating
02:50 - Lower Tax Rates
03:34 - Lifetime Capital Gains Exemption
04:37 - How Income Is Taxed in Your Corporation
04:45 - Active Business Income
05:00 - Small Business Tax Rate and CCPCs
06:06 - Investment Income in a Corporation
06:53 - How to Pay Yourself From Your Corporation
08:13 - Disadvantages of Corporations
08:27 - Increased Administration and Compliance Costs
08:41 - Missed Personal Tax Credits
08:57 - Losses Can Be Difficult to Use
09:33 - Tax Pitfalls for Corporate Businesses
09:45 - Inadequate Tax Planning
10:12 - Passive Income Limits
10:29 - Corporate Assets for Personal Use
10:50 - Pam and Incorporation
******************************
🔗 MENTIONED IN THIS VIDEO
► Lifetime Capital Gains
https://www.avalonaccounting.ca/blog/corporate-tax-rates-canada#toc-3
► Investment Income Tax Rates
https://www.avalonaccounting.ca/blog/corporate-tax-rates-canada#toc-14
► How To Pay Yourself From Your Corporation
https://youtu.be/jEBSotyZwU0
► Personal Use of a Corporate Vehicle
https://youtu.be/6Fz4hU8e9y4
******************************
🅰️ AVALON ACCOUNTING
Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada.
We provide online bookkeeping, accounting services and expert financial advice for small businesses.
We are on a mission to educate small business owners through our YouTube channel, blog and free resources. Check out our links below to dive in.
******************************
🧑🏫 ONLINE COURSES
► Take your business to the next level with our online courses.
https://www.avalonaccounting.ca/courses
✅ ESSENTIAL FINANCIAL CONCEPTS FOR SMALL BUSINESSES (🆓FREE COURSE)
► Keys to building a business that provides owners with time, money and purpose.
https://www.avalonaccounting.ca/courses/essential-financial-concepts-for-small-businesses
🖥️ LEARN MODERN BOOKKEEPING
► Learn to do your own bookkeeping with modern tools and our proven practices.
https://www.avalonaccounting.ca/courses/bookkeeping-with-xero-and-dext
📈 BOOKKEEPING AND TAX FOR FREELANCERS
► This course teaches sole proprietors how to simplify bookkeeping and taxes.
https://www.avalonaccounting.ca/courses/bookkeeping-and-taxes-for-freelancers
******************************
❓ FAQs
► What Can I Write-off? http://bit.ly/EXPENSESCAN
► Should I incorporate my business in Canada? http://bit.ly/INCORPCAN
► What is a shareholder loan? http://bit.ly/SHLOANCAN
► When and How Should I Hire an Employee? http://bit.ly/hirelikeapro
► Should I offer profit sharing? http://bit.ly/PROFITSHARECAN
******************************
💳 FLOAT VISA - $500 CASH BACK
Float Financial provides a company credit card built for modern businesses.
Check out our review for details
► https://www.avalonaccounting.ca/blog/float-credit-card-review
Use our referral link to receive $500 cash back
► https://tinyurl.com/floatvisa
We may receive compensation when our link is used to sign up for a Float Visa.
******************************
💼 20% OFF INCORPORATION WITH OWNR
If you are looking to incorporate (in Canada) and want to save some cash, check out Ownr with our affiliate link for 20% off incorporation costs:
► https://www.ownr.co/partners/avalon-accounting?gspk=avalon564
We may receive compensation when our link is used to sign up with OWNR
******************************
🧑🏻🏫 FREE BUSINESS GUIDES:
► Starting Your Business Guide:
https://joecollins.typeform.com/to/bcOpcE8R?typeform-source=avalonaccounting.ca
► Business Owner’s Productivity Guide:
https://joecollins.typeform.com/to/zJfbA48x?typeform-source=avalonaccounting.ca
► Financial Foundations Guide:
https://joecollins.typeform.com/to/jFOOltxF?typeform-source=avalonaccounting.ca
► $1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e26VYo7R?typeform-source=avalonaccounting.ca
- published: 05 Apr 2023
- views: 14120
12:39
Registering A Corporation In Canada Under 30 Minutes | How To Register Business Canada |🔥
#Registering A Corporation In Canada Under 30 Minutes | How To Register Business Canada |🔥
For many starting the entrepreneurial journey one of the first logic...
#Registering A Corporation In Canada Under 30 Minutes | How To Register Business Canada |🔥
For many starting the entrepreneurial journey one of the first logical step is Registering a corporation in Canada and this can be done on own under 30 minutes. In this video I am showing how I went about doing Registering a corporation in Canada on own under 30 minutes which will give confidence to you too.
All I did was to follow the instruction given on website, once the details were filled Registering a corporation in Canada confirmation I got within 24 hours
Since It is single ownership company, it was easy and straightforward.
I am sharing links to the website which will help you with your registration. Do spread the good word and help those wishing by telling that Registering a corporation in Canada takes less than 30 minutes
Registering a corporation in Canada https://www.canada.ca/en/services/business/start/register-with-gov/register-corp.html
Federal Incorporation
https://www.canada.ca/en/services/business/start/register-with-gov/register-corp/register-corp-fed.html
Changing business address https://youtu.be/j6JMClDUGKA
Coming to Canada is exciting and scary at the same time. I have gone through this experience and even after coming to Canada one goes through a new immigrant struggle in many ways. I am trying to share my first hand experience about my planning to Canada, mistakes I made which you can avoid and once landing in Canada experience of managing budget, things we learnt as new immigrants, things we did for free which no one tells and things specific to integrating in Canadian environment at the earliest.
It is all tried and tested so that you can feel confident. All you need to do is comment, like and subscribe and share your questions so that i can keep responding to your queries.
Keep watching Canada Tried and Tested.
#Registering_Corporation_In_Canada
#Canada_Tried_And_Tested
#Register_Business_Canada
#Business_In_Canada
Don't Forget To Subscribe: http://bit.ly/3oaNmOC 🎯
https://wn.com/Registering_A_Corporation_In_Canada_Under_30_Minutes_|_How_To_Register_Business_Canada_|🔥
#Registering A Corporation In Canada Under 30 Minutes | How To Register Business Canada |🔥
For many starting the entrepreneurial journey one of the first logical step is Registering a corporation in Canada and this can be done on own under 30 minutes. In this video I am showing how I went about doing Registering a corporation in Canada on own under 30 minutes which will give confidence to you too.
All I did was to follow the instruction given on website, once the details were filled Registering a corporation in Canada confirmation I got within 24 hours
Since It is single ownership company, it was easy and straightforward.
I am sharing links to the website which will help you with your registration. Do spread the good word and help those wishing by telling that Registering a corporation in Canada takes less than 30 minutes
Registering a corporation in Canada https://www.canada.ca/en/services/business/start/register-with-gov/register-corp.html
Federal Incorporation
https://www.canada.ca/en/services/business/start/register-with-gov/register-corp/register-corp-fed.html
Changing business address https://youtu.be/j6JMClDUGKA
Coming to Canada is exciting and scary at the same time. I have gone through this experience and even after coming to Canada one goes through a new immigrant struggle in many ways. I am trying to share my first hand experience about my planning to Canada, mistakes I made which you can avoid and once landing in Canada experience of managing budget, things we learnt as new immigrants, things we did for free which no one tells and things specific to integrating in Canadian environment at the earliest.
It is all tried and tested so that you can feel confident. All you need to do is comment, like and subscribe and share your questions so that i can keep responding to your queries.
Keep watching Canada Tried and Tested.
#Registering_Corporation_In_Canada
#Canada_Tried_And_Tested
#Register_Business_Canada
#Business_In_Canada
Don't Forget To Subscribe: http://bit.ly/3oaNmOC 🎯
- published: 17 Oct 2020
- views: 162188
17:03
Holding Company in Canada | What is it for?
The MORE Subscribers we have the MORE videos we can post, so please SUBSCRIBE http://bit.ly/AVASUB, hit the 🔔 and LIKE this video. THANK YOU!!!
If you are lo...
The MORE Subscribers we have the MORE videos we can post, so please SUBSCRIBE http://bit.ly/AVASUB, hit the 🔔 and LIKE this video. THANK YOU!!!
If you are looking to incorporate and want to save some cash, check out Ownr with our affiliate link: http://bit.ly/OWNRAVA
Holding Company in Canada | What is it for? Check out our blog for the text version: https://bit.ly/HoldCo
Suggested Video: How to Pay Yourself from Your Corporation | Dividends vs. Salary: http://bit.ly/AVADIVSAL
Want to Run Your Payroll for Free? How to Run Your Own Payroll in Canada for Free: http://bit.ly/FREEPAYROLLCAN
******************************
Connect
* Website: https://www.avalonaccounting.ca/
* Facebook: https://www.facebook.com/avalonaccoun...
* Instagram: https://www.instagram.com/avaloncpa/
* LinkedIn: https://www.linkedin.com/company/aval...
******************************
🧑🏫 ONLINE COURSES
► Take your business to the next level with our online courses.
https://www.avalonaccounting.ca/courses
🖥️ LEARN MODERN BOOKKEEPING
► Learn to do your own bookkeeping with modern tools and our proven practices.
https://www.avalonaccounting.ca/courses/bookkeeping-with-xero-and-dext
📈 BOOKKEEPING AND TAX FOR FREELANCERS
► This course teaches sole proprietors how to simplify bookkeeping and taxes.
https://www.avalonaccounting.ca/courses/bookkeeping-and-taxes-for-freelancers
******************************
FAQs
What Can I Write-off? http://bit.ly/EXPENSESCAN
Should I incorporate my business in Canada? http://bit.ly/INCORPCAN
What is a shareholder loan? http://bit.ly/SHLOANCAN
When and How Should I Hire an Employee? http://bit.ly/hirelikeapro
Should I offer profit sharing? http://bit.ly/PROFITSHARECAN
******************************
Check out some of our FREE guides:
Starting Your Business Guide:
https://joecollins.typeform.com/to/bcOpcE8R?typeform-source=avalonaccounting.ca
Business Owner’s Productivity Guide:
https://joecollins.typeform.com/to/zJfbA48x?typeform-source=avalonaccounting.ca
Financial Foundations Guide:
https://joecollins.typeform.com/to/jFOOltxF?typeform-source=avalonaccounting.ca
1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e26VYo7R?typeform-source=avalonaccounting.ca
Manage Your Own Bookkeeping Course:
https://avalonacounting.thinkific.com/courses/bookkeeping-course
https://wn.com/Holding_Company_In_Canada_|_What_Is_It_For
The MORE Subscribers we have the MORE videos we can post, so please SUBSCRIBE http://bit.ly/AVASUB, hit the 🔔 and LIKE this video. THANK YOU!!!
If you are looking to incorporate and want to save some cash, check out Ownr with our affiliate link: http://bit.ly/OWNRAVA
Holding Company in Canada | What is it for? Check out our blog for the text version: https://bit.ly/HoldCo
Suggested Video: How to Pay Yourself from Your Corporation | Dividends vs. Salary: http://bit.ly/AVADIVSAL
Want to Run Your Payroll for Free? How to Run Your Own Payroll in Canada for Free: http://bit.ly/FREEPAYROLLCAN
******************************
Connect
* Website: https://www.avalonaccounting.ca/
* Facebook: https://www.facebook.com/avalonaccoun...
* Instagram: https://www.instagram.com/avaloncpa/
* LinkedIn: https://www.linkedin.com/company/aval...
******************************
🧑🏫 ONLINE COURSES
► Take your business to the next level with our online courses.
https://www.avalonaccounting.ca/courses
🖥️ LEARN MODERN BOOKKEEPING
► Learn to do your own bookkeeping with modern tools and our proven practices.
https://www.avalonaccounting.ca/courses/bookkeeping-with-xero-and-dext
📈 BOOKKEEPING AND TAX FOR FREELANCERS
► This course teaches sole proprietors how to simplify bookkeeping and taxes.
https://www.avalonaccounting.ca/courses/bookkeeping-and-taxes-for-freelancers
******************************
FAQs
What Can I Write-off? http://bit.ly/EXPENSESCAN
Should I incorporate my business in Canada? http://bit.ly/INCORPCAN
What is a shareholder loan? http://bit.ly/SHLOANCAN
When and How Should I Hire an Employee? http://bit.ly/hirelikeapro
Should I offer profit sharing? http://bit.ly/PROFITSHARECAN
******************************
Check out some of our FREE guides:
Starting Your Business Guide:
https://joecollins.typeform.com/to/bcOpcE8R?typeform-source=avalonaccounting.ca
Business Owner’s Productivity Guide:
https://joecollins.typeform.com/to/zJfbA48x?typeform-source=avalonaccounting.ca
Financial Foundations Guide:
https://joecollins.typeform.com/to/jFOOltxF?typeform-source=avalonaccounting.ca
1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e26VYo7R?typeform-source=avalonaccounting.ca
Manage Your Own Bookkeeping Course:
https://avalonacounting.thinkific.com/courses/bookkeeping-course
- published: 23 Feb 2021
- views: 36052
20:22
WHY You SHOULD START a BUSINESS in CANADA | Tax Benefits of Self-Employed | Canadian Business Guide
WHY SHOULD I START My OWN BUSINESS in CANADA? What are the BENEFITS of Business Income? How Can I SAVE TAXES Being Self-Employed? How Can I Build Wealth and Rea...
WHY SHOULD I START My OWN BUSINESS in CANADA? What are the BENEFITS of Business Income? How Can I SAVE TAXES Being Self-Employed? How Can I Build Wealth and Reach Financial Freedom? Should I Open a Corporation or a Sole-Proprietorship?
I will be breaking down WHY You SHOULD Start YOUR OWN Business in Canada! Whether you just want to run a Side-Business, be fully Self-Employed or even open a Corporation, I’ll go over all of the benefits of running a Canadian Business. I’ll be focusing on the Tax Benefits and Income advantages of running a business but I’ll also talk about the non-monetary aspects. I’ll show you that anyone can start a business but I will also point out some issues that all entrepreneurs should be aware of! This will be the first video in my Canadian Business Guide so stay tuned for more!
HOW to Start / Register a Business: 🇨🇦
https://youtu.be/WrJLAAzRWC4
CANADIAN TAX GUIDE: 🇨🇦
Watch my videos to learn the basics of Canadian Taxes and Tax-Sheltered Accounts like the TFSA, RRSP and RESP
https://www.youtube.com/playlist?list=PLj8bU3AuW2qEA_ik7NOAIkBY02nt7KAPj
QUICKBOOKS ONLINE - Manage Your Business 🇨🇦
Sign up with QuickBooks Online, the tool that I use to manage my business! I use it for bookkeeping, tracking revenue and expenses and to handle payroll 👇
https://www.jdoqocy.com/click-9191966-14439155
QUESTRADE REFERRAL 🇨🇦
If you’d like to sign up for Questrade: my favourite online broker, use my referral link to get $50 of COMMISSION-FREE Trade Rebates for the first 30 days!
That’s 10 free trades without any commission, $50 in savings! 👇
https://questrade.sjv.io/CANADIANTSHIRT
Best SAVINGS ACCOUNT in 2024 - EQ BANK 🏦
Your emergency fund should be in a High Interest Savings Account and the best one in Canada right now is EQ Bank which offers up to 4% interest with no monthly fees and no minimum balance!
Use my referral link below to sign up 👇
https://click.linksynergy.com/fs-bin/click?id=G4zxVqAvD18&offerid=1115263.22&bids=1115263.22&type=1&subid=0
BLOSSOM SOCIAL 🌸🇨🇦
Follow me on Blossom to see my Portfolio & Trades for FREE 👇
https://blossomsocialapp.page.link/canadiantshirt
LOYALTY MEMBERSHIP ✨
Click the JOIN button or the link below to gain access to my exclusive content! 👇
https://youtube.com/c/CanadianinaTShirt/join
Thank you guys for supporting my channel, you’re the best! 🙏
SKIP AHEAD ⏩
-Intro: 0:00
-ANYONE Can Start a Business: 0:23
-Regular Employment Income: 1:21
-Trading Time for Money: 1:51
-Ownership & Equity: 4:03
-Tax Efficiency: 5:37
-Business Expenses: 6:47
-Pre-Tax Income: 9:16
-Control Timing: 10:31
-Family Income Splitting: 11:37
-Incorporating: 12:48
-Issues & Warnings: 15:35
-Not Profitable? 17:00
-Conflict of Interest: 18:12
-SUMMARY: 19:10
WATCH NEXT ▶️
-How Taxes Work in Canada - https://youtu.be/GShKBkv2xY8
-RRSP Explained Part 1 - https://youtu.be/bKMNgnMBSdE
-Canadian Tax Savings Tips - https://youtu.be/xLXup5L-S2Q
-4 Steps to Become Wealthy - https://youtu.be/mwfdlM7z9YY
-How to Open Questrade Account - https://youtu.be/uoOBRUY8IXQ
-How to Buy Stocks on Questrade - https://youtu.be/_V2yBWwOZX4
-Best Canadian Stocks During Crash - https://youtu.be/-isa56QZNQc
-What is a DRIP? Compounding Dividends - https://youtu.be/ouyXwaTOfhU
Be sure to subscribe to my channel for more videos on investing, Canadian taxes, personal finance and money saving strategies =)
FOLLOW ME HERE 👋
FACEBOOK: https://www.facebook.com/CanadianTShirt
INSTAGRAM: https://www.instagram.com/canadiantshirt
TWITTER: https://twitter.com/CanadianShirt
FINANCIAL EDUCATION BOOKS 📚
-Wealthy Barber Returns - https://amzn.to/2MJ9cIe
-Beat the Bank: Canadian Guide - https://amzn.to/37uqe54
-101 Tax Secrets for Canadians - https://amzn.to/2RrIuGS
-Millionaire Next Door - https://amzn.to/35ap253
-Intelligent Investor - https://amzn.to/3qoI5nV
CAMERA GEAR 📸
-4K Camera - https://amzn.to/3aSHWEg
-HD Camera - https://amzn.to/3puBZkT
-LED Ring Light - https://amzn.to/2MKLDyC
-Microphone - https://amzn.to/3aRdXMN
DISCLAIMER: I am NOT your financial advisor! My videos and the topics discussed are my opinions and are presented for entertainment purposes only. This information should not be construed as legal or financial advice. It is always up to YOU to do your own due diligence. It’s YOUR money so make YOUR own decisions!
I will NEVER ask you to send me money nor will I ever provide my phone number or personal email address. If you see this, that is a fake account and please report any suspicious activity or scam accounts claiming to be me.
DISCLAIMER: Links included in this description may contain affiliate links.
I will only ever suggest services or products that I use myself and I personally believe in.
If you sign up using my affiliate link, I will receive a small referral bonus at no extra cost to you!
Thank you for supporting The Canadian in a T-Shirt! =)
#CanadianBusiness #EntrepreneurCanada #StartingBusiness #CanadianTaxes
#CanadianBusinessGuide #CanadianFinance #FinancialFreedom
https://wn.com/Why_You_Should_Start_A_Business_In_Canada_|_Tax_Benefits_Of_Self_Employed_|_Canadian_Business_Guide
WHY SHOULD I START My OWN BUSINESS in CANADA? What are the BENEFITS of Business Income? How Can I SAVE TAXES Being Self-Employed? How Can I Build Wealth and Reach Financial Freedom? Should I Open a Corporation or a Sole-Proprietorship?
I will be breaking down WHY You SHOULD Start YOUR OWN Business in Canada! Whether you just want to run a Side-Business, be fully Self-Employed or even open a Corporation, I’ll go over all of the benefits of running a Canadian Business. I’ll be focusing on the Tax Benefits and Income advantages of running a business but I’ll also talk about the non-monetary aspects. I’ll show you that anyone can start a business but I will also point out some issues that all entrepreneurs should be aware of! This will be the first video in my Canadian Business Guide so stay tuned for more!
HOW to Start / Register a Business: 🇨🇦
https://youtu.be/WrJLAAzRWC4
CANADIAN TAX GUIDE: 🇨🇦
Watch my videos to learn the basics of Canadian Taxes and Tax-Sheltered Accounts like the TFSA, RRSP and RESP
https://www.youtube.com/playlist?list=PLj8bU3AuW2qEA_ik7NOAIkBY02nt7KAPj
QUICKBOOKS ONLINE - Manage Your Business 🇨🇦
Sign up with QuickBooks Online, the tool that I use to manage my business! I use it for bookkeeping, tracking revenue and expenses and to handle payroll 👇
https://www.jdoqocy.com/click-9191966-14439155
QUESTRADE REFERRAL 🇨🇦
If you’d like to sign up for Questrade: my favourite online broker, use my referral link to get $50 of COMMISSION-FREE Trade Rebates for the first 30 days!
That’s 10 free trades without any commission, $50 in savings! 👇
https://questrade.sjv.io/CANADIANTSHIRT
Best SAVINGS ACCOUNT in 2024 - EQ BANK 🏦
Your emergency fund should be in a High Interest Savings Account and the best one in Canada right now is EQ Bank which offers up to 4% interest with no monthly fees and no minimum balance!
Use my referral link below to sign up 👇
https://click.linksynergy.com/fs-bin/click?id=G4zxVqAvD18&offerid=1115263.22&bids=1115263.22&type=1&subid=0
BLOSSOM SOCIAL 🌸🇨🇦
Follow me on Blossom to see my Portfolio & Trades for FREE 👇
https://blossomsocialapp.page.link/canadiantshirt
LOYALTY MEMBERSHIP ✨
Click the JOIN button or the link below to gain access to my exclusive content! 👇
https://youtube.com/c/CanadianinaTShirt/join
Thank you guys for supporting my channel, you’re the best! 🙏
SKIP AHEAD ⏩
-Intro: 0:00
-ANYONE Can Start a Business: 0:23
-Regular Employment Income: 1:21
-Trading Time for Money: 1:51
-Ownership & Equity: 4:03
-Tax Efficiency: 5:37
-Business Expenses: 6:47
-Pre-Tax Income: 9:16
-Control Timing: 10:31
-Family Income Splitting: 11:37
-Incorporating: 12:48
-Issues & Warnings: 15:35
-Not Profitable? 17:00
-Conflict of Interest: 18:12
-SUMMARY: 19:10
WATCH NEXT ▶️
-How Taxes Work in Canada - https://youtu.be/GShKBkv2xY8
-RRSP Explained Part 1 - https://youtu.be/bKMNgnMBSdE
-Canadian Tax Savings Tips - https://youtu.be/xLXup5L-S2Q
-4 Steps to Become Wealthy - https://youtu.be/mwfdlM7z9YY
-How to Open Questrade Account - https://youtu.be/uoOBRUY8IXQ
-How to Buy Stocks on Questrade - https://youtu.be/_V2yBWwOZX4
-Best Canadian Stocks During Crash - https://youtu.be/-isa56QZNQc
-What is a DRIP? Compounding Dividends - https://youtu.be/ouyXwaTOfhU
Be sure to subscribe to my channel for more videos on investing, Canadian taxes, personal finance and money saving strategies =)
FOLLOW ME HERE 👋
FACEBOOK: https://www.facebook.com/CanadianTShirt
INSTAGRAM: https://www.instagram.com/canadiantshirt
TWITTER: https://twitter.com/CanadianShirt
FINANCIAL EDUCATION BOOKS 📚
-Wealthy Barber Returns - https://amzn.to/2MJ9cIe
-Beat the Bank: Canadian Guide - https://amzn.to/37uqe54
-101 Tax Secrets for Canadians - https://amzn.to/2RrIuGS
-Millionaire Next Door - https://amzn.to/35ap253
-Intelligent Investor - https://amzn.to/3qoI5nV
CAMERA GEAR 📸
-4K Camera - https://amzn.to/3aSHWEg
-HD Camera - https://amzn.to/3puBZkT
-LED Ring Light - https://amzn.to/2MKLDyC
-Microphone - https://amzn.to/3aRdXMN
DISCLAIMER: I am NOT your financial advisor! My videos and the topics discussed are my opinions and are presented for entertainment purposes only. This information should not be construed as legal or financial advice. It is always up to YOU to do your own due diligence. It’s YOUR money so make YOUR own decisions!
I will NEVER ask you to send me money nor will I ever provide my phone number or personal email address. If you see this, that is a fake account and please report any suspicious activity or scam accounts claiming to be me.
DISCLAIMER: Links included in this description may contain affiliate links.
I will only ever suggest services or products that I use myself and I personally believe in.
If you sign up using my affiliate link, I will receive a small referral bonus at no extra cost to you!
Thank you for supporting The Canadian in a T-Shirt! =)
#CanadianBusiness #EntrepreneurCanada #StartingBusiness #CanadianTaxes
#CanadianBusinessGuide #CanadianFinance #FinancialFreedom
- published: 21 Mar 2021
- views: 212605
10:22
How to Pay Yourself from a Corporation in Canada | Salary vs Dividends
We work with business owners across Canada and we're often asked about the difference between salary and dividends. If you own a business through a corporation...
We work with business owners across Canada and we're often asked about the difference between salary and dividends. If you own a business through a corporation, you have the ability to pay yourself a salary, dividends or a combination of the two.
We look at the difference between salary and dividends and the main advantages and disadvantages of each. Plus we go over our model (spoiler alert it's a bit of both) and why that works best for us.
Not everyone has the same business, financial, or lifestyle goals and there are a lot of moving pieces and things to consider. Luckily we like talking about this stuff, so give us a shout if you have any questions.
Connect
* Website: https://www.avalonaccounting.ca/
* Facebook: https://www.facebook.com/avalonaccoun...
* Instagram: https://www.instagram.com/avaloncpa/
* LinkedIn: https://www.linkedin.com/company/aval...
******************************
🧑🏫 ONLINE COURSES
► Take your business to the next level with our online courses.
https://www.avalonaccounting.ca/courses
🖥️ LEARN MODERN BOOKKEEPING
► Learn to do your own bookkeeping with modern tools and our proven practices.
https://www.avalonaccounting.ca/courses/bookkeeping-with-xero-and-dext
📈 BOOKKEEPING AND TAX FOR FREELANCERS
► This course teaches sole proprietors how to simplify bookkeeping and taxes.
https://www.avalonaccounting.ca/courses/bookkeeping-and-taxes-for-freelancers
******************************
FAQs
What Can I Write-off? http://bit.ly/EXPENSESCAN
Should I incorporate my business in Canada? http://bit.ly/INCORPCAN
What is a shareholder loan? http://bit.ly/SHLOANCAN
When and How Should I Hire an Employee? http://bit.ly/hirelikeapro
Should I offer profit sharing? http://bit.ly/PROFITSHARECAN
******************************
Check out some of our FREE guides:
Starting Your Business Guide:
https://joecollins.typeform.com/to/bcOpcE8R?typeform-source=avalonaccounting.ca
Business Owner’s Productivity Guide:
https://joecollins.typeform.com/to/zJfbA48x?typeform-source=avalonaccounting.ca
Financial Foundations Guide:
https://joecollins.typeform.com/to/jFOOltxF?typeform-source=avalonaccounting.ca
1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e26VYo7R?typeform-source=avalonaccounting.ca
Manage Your Own Bookkeeping Course:
https://avalonacounting.thinkific.com/courses/bookkeeping-course
https://wn.com/How_To_Pay_Yourself_From_A_Corporation_In_Canada_|_Salary_Vs_Dividends
We work with business owners across Canada and we're often asked about the difference between salary and dividends. If you own a business through a corporation, you have the ability to pay yourself a salary, dividends or a combination of the two.
We look at the difference between salary and dividends and the main advantages and disadvantages of each. Plus we go over our model (spoiler alert it's a bit of both) and why that works best for us.
Not everyone has the same business, financial, or lifestyle goals and there are a lot of moving pieces and things to consider. Luckily we like talking about this stuff, so give us a shout if you have any questions.
Connect
* Website: https://www.avalonaccounting.ca/
* Facebook: https://www.facebook.com/avalonaccoun...
* Instagram: https://www.instagram.com/avaloncpa/
* LinkedIn: https://www.linkedin.com/company/aval...
******************************
🧑🏫 ONLINE COURSES
► Take your business to the next level with our online courses.
https://www.avalonaccounting.ca/courses
🖥️ LEARN MODERN BOOKKEEPING
► Learn to do your own bookkeeping with modern tools and our proven practices.
https://www.avalonaccounting.ca/courses/bookkeeping-with-xero-and-dext
📈 BOOKKEEPING AND TAX FOR FREELANCERS
► This course teaches sole proprietors how to simplify bookkeeping and taxes.
https://www.avalonaccounting.ca/courses/bookkeeping-and-taxes-for-freelancers
******************************
FAQs
What Can I Write-off? http://bit.ly/EXPENSESCAN
Should I incorporate my business in Canada? http://bit.ly/INCORPCAN
What is a shareholder loan? http://bit.ly/SHLOANCAN
When and How Should I Hire an Employee? http://bit.ly/hirelikeapro
Should I offer profit sharing? http://bit.ly/PROFITSHARECAN
******************************
Check out some of our FREE guides:
Starting Your Business Guide:
https://joecollins.typeform.com/to/bcOpcE8R?typeform-source=avalonaccounting.ca
Business Owner’s Productivity Guide:
https://joecollins.typeform.com/to/zJfbA48x?typeform-source=avalonaccounting.ca
Financial Foundations Guide:
https://joecollins.typeform.com/to/jFOOltxF?typeform-source=avalonaccounting.ca
1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e26VYo7R?typeform-source=avalonaccounting.ca
Manage Your Own Bookkeeping Course:
https://avalonacounting.thinkific.com/courses/bookkeeping-course
- published: 13 Jul 2020
- views: 92137
10:30
Dissolving a corporation in Canada – How, When, Why?
Dissolving a corporation in Canada – How, When, Why?
1. Corporation is not a physical being and so it cannot die on its own. There are multiple ways in which ...
Dissolving a corporation in Canada – How, When, Why?
1. Corporation is not a physical being and so it cannot die on its own. There are multiple ways in which a corporation can cease existing:
a. amalgamation – it being combined with another corporation creating a new entity, or assimilated by another corporation;
b. dissolution,
c. being cancelled by the registrar for non-compliance with laws and more.
2. When we want to close down our corporation in Canada, or stop using it, the proper way would be to dissolve it. The process of dissolution includes four main steps and might result in certain consequences that we as business owners should be prepared for.
a. Internal resolutions of corporate shareholders and directors in support of the dissolution. Additionally, the corporation must prepare the Articles of Dissolution.
b. Consent to Dissolution by the Ministry of Finance/CRA – a letter of consent to dissolution must be obtained from the Ministry.
c. Articles of dissolution + the corporate resolutions + the letter of consent from the CRA must be filed with the registrar, following which the corporation will be dissolved.
d. The last step will be to file the final tax return by your accountant notifying the CRA that the corporation has been dissolved.
3. One of the major consequences of the dissolution might be the audit of financial documents by the CRA. As a party closely involved in the dissolution process, CRA might decide to audit the corporation before it consents to the dissolution.
4. There are some alternatives for dissolving a corporation, which in my opinion might be more beneficial for the business owners:
a. Sell it to someone else. Many people value long existing corporations and will be prepared to pay to purchase one. I am being contacted by multiple potential clients looking to purchase “shell” or “shelf” corporation and prepared to pay the price. By dissolving a corporation, we literally destroy something valuable.
b. Retain it as a shelf company – leaving it with $0 transactions will cost very little to maintain – you will only have to file annual tax return of $0, which is not too costly. But you might decide to revive the corporation in the future, to start a new business or do something else with it – having a corporation with many years behind its back, good operating history and bank account might become a valuable addition to your new plans.
5. While the process of dissolution is relatively simple, one should consider the consequences of dissolution and alternatives, which might generate additional income or assist in the future development of a new business.
Ontario Dissolution Process: https://www.ontario.ca/page/start-dissolve-and-change-corporation#section-5
Consent of the Minister of Finance: https://www.ontario.ca/page/voluntary-corporate-dissolution#section-2
Federal Dissolution Process: https://www.ic.gc.ca/eic/site/cd-dgc.nsf/eng/cs07074.html
Our website - https://cbes.ca/
Facebook - https://www.facebook.com/CanadianBiz
LinkedIn - https://www.linkedin.com/company/cbes
All information provided in this video is for informational and reference purpose only. Nothing contained herein shall be considered as a legal advice or instructions to be acted upon. CBES – Canadian Business and Enterprise Services does not offer legal advice online or on its YouTube channel. Please consult a professional before you act in reliance on the information contained in our videos.
#corporationcanada #businessincanada #Dissolvingacorporation
https://wn.com/Dissolving_A_Corporation_In_Canada_–_How,_When,_Why
Dissolving a corporation in Canada – How, When, Why?
1. Corporation is not a physical being and so it cannot die on its own. There are multiple ways in which a corporation can cease existing:
a. amalgamation – it being combined with another corporation creating a new entity, or assimilated by another corporation;
b. dissolution,
c. being cancelled by the registrar for non-compliance with laws and more.
2. When we want to close down our corporation in Canada, or stop using it, the proper way would be to dissolve it. The process of dissolution includes four main steps and might result in certain consequences that we as business owners should be prepared for.
a. Internal resolutions of corporate shareholders and directors in support of the dissolution. Additionally, the corporation must prepare the Articles of Dissolution.
b. Consent to Dissolution by the Ministry of Finance/CRA – a letter of consent to dissolution must be obtained from the Ministry.
c. Articles of dissolution + the corporate resolutions + the letter of consent from the CRA must be filed with the registrar, following which the corporation will be dissolved.
d. The last step will be to file the final tax return by your accountant notifying the CRA that the corporation has been dissolved.
3. One of the major consequences of the dissolution might be the audit of financial documents by the CRA. As a party closely involved in the dissolution process, CRA might decide to audit the corporation before it consents to the dissolution.
4. There are some alternatives for dissolving a corporation, which in my opinion might be more beneficial for the business owners:
a. Sell it to someone else. Many people value long existing corporations and will be prepared to pay to purchase one. I am being contacted by multiple potential clients looking to purchase “shell” or “shelf” corporation and prepared to pay the price. By dissolving a corporation, we literally destroy something valuable.
b. Retain it as a shelf company – leaving it with $0 transactions will cost very little to maintain – you will only have to file annual tax return of $0, which is not too costly. But you might decide to revive the corporation in the future, to start a new business or do something else with it – having a corporation with many years behind its back, good operating history and bank account might become a valuable addition to your new plans.
5. While the process of dissolution is relatively simple, one should consider the consequences of dissolution and alternatives, which might generate additional income or assist in the future development of a new business.
Ontario Dissolution Process: https://www.ontario.ca/page/start-dissolve-and-change-corporation#section-5
Consent of the Minister of Finance: https://www.ontario.ca/page/voluntary-corporate-dissolution#section-2
Federal Dissolution Process: https://www.ic.gc.ca/eic/site/cd-dgc.nsf/eng/cs07074.html
Our website - https://cbes.ca/
Facebook - https://www.facebook.com/CanadianBiz
LinkedIn - https://www.linkedin.com/company/cbes
All information provided in this video is for informational and reference purpose only. Nothing contained herein shall be considered as a legal advice or instructions to be acted upon. CBES – Canadian Business and Enterprise Services does not offer legal advice online or on its YouTube channel. Please consult a professional before you act in reliance on the information contained in our videos.
#corporationcanada #businessincanada #Dissolvingacorporation
- published: 05 Mar 2021
- views: 9288
14:26
Incorporating a Business in Canada: Corporation vs. Sole Proprietorship
Should you be incorporating your business or should you stay a sole proprietorship in Canada? That's one of the most popular questions I've been getting from al...
Should you be incorporating your business or should you stay a sole proprietorship in Canada? That's one of the most popular questions I've been getting from all of my different small business and tax videos over the years. And finally, I'm here to provide some answers!
I ran my business as a sole proprietorship for 5 and a half years, even though I felt a lot of pressure from other business owners to incorporate. It's now been over a year since I incorporated my business, and I've gotta say, I'm so glad I waited (no regrets!).
Although I provide the pros and cons of incorporating, it's really a personal decision and one that working with an accountant can help you figure out. Hopefully, this video provides some insight and helps you make the right decision for you!
CHAPTERS
00:00 Introduction
02:29 My journey from sole proprietorship to corporation
03:25 Benefits of incorporating your business in Canada
08:23 Rule of thumb for incorporating your business in Canada
10:08 How RRSPs can factor into your decision
11:38 Reasons why you SHOULDN'T incorporate
RESOURCES
➡️ Want read what you just watched? Check out my blog post: https://jessicamoorhouse.com/the-pros-and-cons-of-incorporating-your-business-in-canada/
➡️ Business services & professionals recommendations for Canadians https://jessicamoorhouse.com/favourite-things
➡️ Budget spreadsheets if you have a side hustle or are a sole proprietor https://jessicamoorhouse.com
GET STARTED
➡️ COURSES, SPREADSHEETS & MORE https://jessicamoorhouse.com/shop
➡️ EMAIL LIST https://jessicamoorhouse.com/subscribe
➡️ RESOURCE LIBRARY https://jessicamoorhouse.com/resources
➡️ RECOMMENDATIONS https://jessicamoorhouse.com/recommendations
FOLLOW ME
✏️ BLOG https://jessicamoorhouse.com/blog
🎙 PODCAST https://jessicamoorhouse.com/podcast
🐥 TWITTER https://twitter.com/jessi_moorhouse
📘 FACEBOOK https://www.facebook.com/jessicaimoorhouse
📸 INSTAGRAM https://www.instagram.com/jessicaimoorhouse
📌 PINTEREST https://www.pinterest.com/jessimoorhouse1/
ABOUT ME
I'm Jessica Moorhouse, a money expert, Accredited Financial Counsellor Canada®, speaker, blogger, YouTuber, and host of the More Money Podcast. I'm based out of Toronto, ON, Canada and turned my personal finance blogging side hustle into my full-time business so I could spend all my time teaching others how they can take control of their lives by taking control of their money. To learn more, check out my website https://jessicamoorhouse.com
#canada #entrepreneurship #smallbusiness
---
DISCLAIMER & DISCLOSURE
The content I produce is for education and entertainment purposes only. Nothing on this YouTube channel, my website or affiliated channels should be considered financial, investment or legal advice, or an endorsement for any type of service, product, or brand. Some links in this description may be affiliate links in which I may earn a commission at no extra cost to you. Please read my disclaimer to learn more: https://jessicamoorhouse.com/disclaimer/
https://wn.com/Incorporating_A_Business_In_Canada_Corporation_Vs._Sole_Proprietorship
Should you be incorporating your business or should you stay a sole proprietorship in Canada? That's one of the most popular questions I've been getting from all of my different small business and tax videos over the years. And finally, I'm here to provide some answers!
I ran my business as a sole proprietorship for 5 and a half years, even though I felt a lot of pressure from other business owners to incorporate. It's now been over a year since I incorporated my business, and I've gotta say, I'm so glad I waited (no regrets!).
Although I provide the pros and cons of incorporating, it's really a personal decision and one that working with an accountant can help you figure out. Hopefully, this video provides some insight and helps you make the right decision for you!
CHAPTERS
00:00 Introduction
02:29 My journey from sole proprietorship to corporation
03:25 Benefits of incorporating your business in Canada
08:23 Rule of thumb for incorporating your business in Canada
10:08 How RRSPs can factor into your decision
11:38 Reasons why you SHOULDN'T incorporate
RESOURCES
➡️ Want read what you just watched? Check out my blog post: https://jessicamoorhouse.com/the-pros-and-cons-of-incorporating-your-business-in-canada/
➡️ Business services & professionals recommendations for Canadians https://jessicamoorhouse.com/favourite-things
➡️ Budget spreadsheets if you have a side hustle or are a sole proprietor https://jessicamoorhouse.com
GET STARTED
➡️ COURSES, SPREADSHEETS & MORE https://jessicamoorhouse.com/shop
➡️ EMAIL LIST https://jessicamoorhouse.com/subscribe
➡️ RESOURCE LIBRARY https://jessicamoorhouse.com/resources
➡️ RECOMMENDATIONS https://jessicamoorhouse.com/recommendations
FOLLOW ME
✏️ BLOG https://jessicamoorhouse.com/blog
🎙 PODCAST https://jessicamoorhouse.com/podcast
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ABOUT ME
I'm Jessica Moorhouse, a money expert, Accredited Financial Counsellor Canada®, speaker, blogger, YouTuber, and host of the More Money Podcast. I'm based out of Toronto, ON, Canada and turned my personal finance blogging side hustle into my full-time business so I could spend all my time teaching others how they can take control of their lives by taking control of their money. To learn more, check out my website https://jessicamoorhouse.com
#canada #entrepreneurship #smallbusiness
---
DISCLAIMER & DISCLOSURE
The content I produce is for education and entertainment purposes only. Nothing on this YouTube channel, my website or affiliated channels should be considered financial, investment or legal advice, or an endorsement for any type of service, product, or brand. Some links in this description may be affiliate links in which I may earn a commission at no extra cost to you. Please read my disclaimer to learn more: https://jessicamoorhouse.com/disclaimer/
- published: 02 Sep 2022
- views: 33517
9:49
Salary vs Dividends Canada | Best Way to Pay Yourself From A Corporation In Canada
■ 💸Not sure If you are on the right path in saving?
💪 Download this FREE Financial Clarity Checklist:
https://finance.thomascchan.com/5steps
■ 💰Book a 30 m...
■ 💸Not sure If you are on the right path in saving?
💪 Download this FREE Financial Clarity Checklist:
https://finance.thomascchan.com/5steps
■ 💰Book a 30 min Complimentary Consult with Thomas 🕵
https://finance.thomascchan.com/consult
#Salary #Dividend #smallbusinessowners
Salary vs Dividends Canada | Best Way to Pay Yourself From A Corporation In Canada
Chapters:
00:00 intro
1:05 Salary or Dividend?
4:41 Salary pros & cons
5:57 Dividend pros & cons
So dividends vs wages, should you pay dividends or wages as a business owner? Or… is it better to take wages or dividends when you are a small business owner? You know, wages or dividends is a very summon topics that circulate in crowds, people talk about wages vs dividends, and there are lots of business advice about small business tips like:
-do dividends contribute to cpp?
-when it is about salary vs dividends, should you pay yourself with dividends or salary?
-what is the dividend or salary pay structure?
-how can this affect my tax when we have to deal with salary vs dividends canada
So in this video, I will share all the information that I have gatherer from my communities, combine with my experience to solve this epic salary vs dividends tax implications problem, reveal the real face of salary vs dividends canada 2020, tell you the exact suggestion of selecting salary or dividends, and the salary or dividends benefits
In Canada, salary vs dividend is a hot topic, business owners often talk about wether they have to pay dividend or salary, and trust me, paying yourself with dividends or dividend salary is really depends on your own situation, pay with dividends? or not pay yourself dividneds?
So, today I thought I’d compile some of my best info and strategies on wether we should pay dividends or wages as a business owner.
Ready?
Enjoy!
.....
🗣 Feeling stressed regards to your current finance?
Learn 5 EFFECTIVE ways to Boost your Financial Immune System
Download this FREE, EASY, Step-by-Step checklist 🔊
https://finance.thomascchan.com/5steps
_____
Looking for Mortgage, Accounting, Legal Advice?
Connect with Thomas: https://bit.ly/2FFUX6T
Want to know how Insurance works in Canada?
Insurance 101 in Canada: https://bit.ly/2T4dCfs
Is Your Saving On track with your financial goal?
Investment 101 in Canada: https://bit.ly/35ai16f
The secrets all wealthy people know:
Financial Freedom 101: https://bit.ly/3j5XuER
Our Right and Duty in Canada:
Taxes and Benefits in Canada: https://bit.ly/3dEaGjt
-----------
In the past 10 years, Thomas C Chan been focus on helping Canadians to develop for their financial success, with advice about investments and insurance, such as life insurance, critical illness insurance, and disability insurance.
Whether you want to know more about tax saving, retirement planning, or financial growth, Thomas can bring clarity on your retirement, wealth, and insurance. He understands the life stages and challenges that people are going through.
In Canada, you have many options for savings and investment vehicles, such as the RRSP and TFSA. To figure out how to take advantage of your options, Thomas can help you figure out what best suits YOUR financial needs. If you are interested in learning about how money works, and how to work with money, check out his videos!
Facebook|https://fb.me/ThomaswithNovella
Mail|thomaschan@novellawealth.com
https://wn.com/Salary_Vs_Dividends_Canada_|_Best_Way_To_Pay_Yourself_From_A_Corporation_In_Canada
■ 💸Not sure If you are on the right path in saving?
💪 Download this FREE Financial Clarity Checklist:
https://finance.thomascchan.com/5steps
■ 💰Book a 30 min Complimentary Consult with Thomas 🕵
https://finance.thomascchan.com/consult
#Salary #Dividend #smallbusinessowners
Salary vs Dividends Canada | Best Way to Pay Yourself From A Corporation In Canada
Chapters:
00:00 intro
1:05 Salary or Dividend?
4:41 Salary pros & cons
5:57 Dividend pros & cons
So dividends vs wages, should you pay dividends or wages as a business owner? Or… is it better to take wages or dividends when you are a small business owner? You know, wages or dividends is a very summon topics that circulate in crowds, people talk about wages vs dividends, and there are lots of business advice about small business tips like:
-do dividends contribute to cpp?
-when it is about salary vs dividends, should you pay yourself with dividends or salary?
-what is the dividend or salary pay structure?
-how can this affect my tax when we have to deal with salary vs dividends canada
So in this video, I will share all the information that I have gatherer from my communities, combine with my experience to solve this epic salary vs dividends tax implications problem, reveal the real face of salary vs dividends canada 2020, tell you the exact suggestion of selecting salary or dividends, and the salary or dividends benefits
In Canada, salary vs dividend is a hot topic, business owners often talk about wether they have to pay dividend or salary, and trust me, paying yourself with dividends or dividend salary is really depends on your own situation, pay with dividends? or not pay yourself dividneds?
So, today I thought I’d compile some of my best info and strategies on wether we should pay dividends or wages as a business owner.
Ready?
Enjoy!
.....
🗣 Feeling stressed regards to your current finance?
Learn 5 EFFECTIVE ways to Boost your Financial Immune System
Download this FREE, EASY, Step-by-Step checklist 🔊
https://finance.thomascchan.com/5steps
_____
Looking for Mortgage, Accounting, Legal Advice?
Connect with Thomas: https://bit.ly/2FFUX6T
Want to know how Insurance works in Canada?
Insurance 101 in Canada: https://bit.ly/2T4dCfs
Is Your Saving On track with your financial goal?
Investment 101 in Canada: https://bit.ly/35ai16f
The secrets all wealthy people know:
Financial Freedom 101: https://bit.ly/3j5XuER
Our Right and Duty in Canada:
Taxes and Benefits in Canada: https://bit.ly/3dEaGjt
-----------
In the past 10 years, Thomas C Chan been focus on helping Canadians to develop for their financial success, with advice about investments and insurance, such as life insurance, critical illness insurance, and disability insurance.
Whether you want to know more about tax saving, retirement planning, or financial growth, Thomas can bring clarity on your retirement, wealth, and insurance. He understands the life stages and challenges that people are going through.
In Canada, you have many options for savings and investment vehicles, such as the RRSP and TFSA. To figure out how to take advantage of your options, Thomas can help you figure out what best suits YOUR financial needs. If you are interested in learning about how money works, and how to work with money, check out his videos!
Facebook|https://fb.me/ThomaswithNovella
Mail|thomaschan@novellawealth.com
- published: 04 Dec 2022
- views: 9596
23:28
How to Move your Business to Canada in 2024
Are you ready to take next steps?
🔗 https://bit.ly/scheduleyoursobirovsstrategymeeting
🌏 In this episode, we'll guide you through moving your business to Canad...
Are you ready to take next steps?
🔗 https://bit.ly/scheduleyoursobirovsstrategymeeting
🌏 In this episode, we'll guide you through moving your business to Canada in 2024. 🇨🇦 Learn about immigration requirements, navigating business regulations, and seizing opportunities in the Canadian market. Join us as we simplify the process and help you pave the way for your business's successful relocation.
️ 🗓️ Date: Wednesday, February 28th, 2024
🕥 Time: 10:30 AM EST
🔍 Key Moments In This Episode:
00:00 - Introduction and disclaimer about general information.
00:40 - Introduction to specific business immigration pathways.
01:18 - Overview of federal business immigration programs and provincial nominee programs.
01:44 - Details on Startup Visa Program and C11/C10 significant benefit work permit.
02:17 - Explanation of intra-company transfer for multinationals.
03:30 - Discussion on popular business immigration programs in 2024.
04:45 - Overview of Startup Visa Program requirements and process.
06:37 - Explanation of C11 significant benefit work permit and its success rates.
09:41 - Common reasons for refusal of C11 applications.
11:20 - Introduction to C10 work permit and its flexibility.
13:14 - Advantages of ICT work permit for multinational corporations.
15:32 - Overview of owner operator LMIA-based work permit.
16:47 - Discussion on retirement boom and opportunities for foreign entrepreneurs.
18:02 - Explanation of provincial nominee programs (PNPs) and their requirements.
21:46 - Overview of Quebec investor immigrant program and its requirements.
22:59 - Conclusion and invitation to seek guidance from the law firm.
******************
Follow us on various social media channels:
Website: https://sobirovs.com/
LinkedIn: https://www.linkedin.com/company/sobirovslawfirm/
YouTube: https://www.youtube.com/c/SobirovsLawFirm
Facebook: https://www.facebook.com/sobirovslawfirm/
Instagram: https://www.instagram.com/sobirovslawfirm/
X (formerly Twitter): https://twitter.com/SobirovsLawFirm
TikTok: https://www.tiktok.com/@sobirovslawfirm
******************
How We Can Help You:
- Free Instant Business Immigration Assessment - https://sobirovs.com/instant-assessment/
- Legal Costs Calculator - https://sobirovs.com/legal-cost-estimator/
- Why you should work with Sobirovs Law Firm? - https://sobirovs.com/careers/
- Who is on your Team in Canada - https://sobirovs.com/team/
- Client Success Stories - https://sobirovs.com/news-publications/
- Discuss your immigration options with a senior immigration lawyer - https://calendly.com/sobirovslaw/strategy-meeting
******************
Please note that whatever you hear in these videos or any content that you see on social media by Sobirovs Law Firm is general information only and not legal advice. While we may use certain real-life scenarios or legal cases for learning purposes, it is important to remember that this does not constitute a legal opinion. For personalized legal advice, please consult with your lawyer or hire a Canadian immigration lawyer.
https://wn.com/How_To_Move_Your_Business_To_Canada_In_2024
Are you ready to take next steps?
🔗 https://bit.ly/scheduleyoursobirovsstrategymeeting
🌏 In this episode, we'll guide you through moving your business to Canada in 2024. 🇨🇦 Learn about immigration requirements, navigating business regulations, and seizing opportunities in the Canadian market. Join us as we simplify the process and help you pave the way for your business's successful relocation.
️ 🗓️ Date: Wednesday, February 28th, 2024
🕥 Time: 10:30 AM EST
🔍 Key Moments In This Episode:
00:00 - Introduction and disclaimer about general information.
00:40 - Introduction to specific business immigration pathways.
01:18 - Overview of federal business immigration programs and provincial nominee programs.
01:44 - Details on Startup Visa Program and C11/C10 significant benefit work permit.
02:17 - Explanation of intra-company transfer for multinationals.
03:30 - Discussion on popular business immigration programs in 2024.
04:45 - Overview of Startup Visa Program requirements and process.
06:37 - Explanation of C11 significant benefit work permit and its success rates.
09:41 - Common reasons for refusal of C11 applications.
11:20 - Introduction to C10 work permit and its flexibility.
13:14 - Advantages of ICT work permit for multinational corporations.
15:32 - Overview of owner operator LMIA-based work permit.
16:47 - Discussion on retirement boom and opportunities for foreign entrepreneurs.
18:02 - Explanation of provincial nominee programs (PNPs) and their requirements.
21:46 - Overview of Quebec investor immigrant program and its requirements.
22:59 - Conclusion and invitation to seek guidance from the law firm.
******************
Follow us on various social media channels:
Website: https://sobirovs.com/
LinkedIn: https://www.linkedin.com/company/sobirovslawfirm/
YouTube: https://www.youtube.com/c/SobirovsLawFirm
Facebook: https://www.facebook.com/sobirovslawfirm/
Instagram: https://www.instagram.com/sobirovslawfirm/
X (formerly Twitter): https://twitter.com/SobirovsLawFirm
TikTok: https://www.tiktok.com/@sobirovslawfirm
******************
How We Can Help You:
- Free Instant Business Immigration Assessment - https://sobirovs.com/instant-assessment/
- Legal Costs Calculator - https://sobirovs.com/legal-cost-estimator/
- Why you should work with Sobirovs Law Firm? - https://sobirovs.com/careers/
- Who is on your Team in Canada - https://sobirovs.com/team/
- Client Success Stories - https://sobirovs.com/news-publications/
- Discuss your immigration options with a senior immigration lawyer - https://calendly.com/sobirovslaw/strategy-meeting
******************
Please note that whatever you hear in these videos or any content that you see on social media by Sobirovs Law Firm is general information only and not legal advice. While we may use certain real-life scenarios or legal cases for learning purposes, it is important to remember that this does not constitute a legal opinion. For personalized legal advice, please consult with your lawyer or hire a Canadian immigration lawyer.
- published: 29 Feb 2024
- views: 686
12:01
Incorporate a business in Canada 2023 | Registering a corporation
Incorporate a business in Canada 2023 | Registering a corporation
We had arrived in Canada in August, and just after a month, in September, I incorporated my I...
Incorporate a business in Canada 2023 | Registering a corporation
We had arrived in Canada in August, and just after a month, in September, I incorporated my IT software business as a limited company. I did a bit of research, watched a couple of videos on YouTube and just did it myself on the same day in less than 30 minutes. If I can do this, you can also do this on your own.
There is no need to visit any Govt. Office. The process is straightforward and can be done online while being anywhere in the world.
All the steps are mentioned and well explained on the Canada, CRA Business official website, and trust me it is very simple.
Registering a corporation in Canada https://www.canada.ca/en/services/business/start/register-with-gov/register-corp.html
Federal Incorporation
https://www.canada.ca/en/services/business/start/register-with-gov/register-corp/register-corp-fed.html
Keep watching Caneda To Canada.
#Register_Business_Canada
#Business_In_Canada
#Registering_Corporation_In_Canada
#Caneda_To_Canada
Do give feedback in the comments, and if the video is helpful like it, and share with your friends.
Do subscribe the channel to stay updated with the useful information about Canada,
https://wn.com/Incorporate_A_Business_In_Canada_2023_|_Registering_A_Corporation
Incorporate a business in Canada 2023 | Registering a corporation
We had arrived in Canada in August, and just after a month, in September, I incorporated my IT software business as a limited company. I did a bit of research, watched a couple of videos on YouTube and just did it myself on the same day in less than 30 minutes. If I can do this, you can also do this on your own.
There is no need to visit any Govt. Office. The process is straightforward and can be done online while being anywhere in the world.
All the steps are mentioned and well explained on the Canada, CRA Business official website, and trust me it is very simple.
Registering a corporation in Canada https://www.canada.ca/en/services/business/start/register-with-gov/register-corp.html
Federal Incorporation
https://www.canada.ca/en/services/business/start/register-with-gov/register-corp/register-corp-fed.html
Keep watching Caneda To Canada.
#Register_Business_Canada
#Business_In_Canada
#Registering_Corporation_In_Canada
#Caneda_To_Canada
Do give feedback in the comments, and if the video is helpful like it, and share with your friends.
Do subscribe the channel to stay updated with the useful information about Canada,
- published: 19 May 2023
- views: 12322