The Incorporated Canadian

Before you start the incorporation process, there are five key decisions you need to make — and getting them right from the start will save you time, money, and headaches down the road. In this episode I walk you through each decision so you can go into the incorporation process informed and set your corporation up properly from day one. What we cover: Federal vs. provincial incorporation — which...

One of the biggest advantages of incorporating as a solo business owner is the ability to invest within your corporation. But the tax rules are different, the planning considerations are different, and there are key concepts you need to understand before you get started. In this episode I give you a clear high-level overview of how corporate investing works in Canada — including why it matters, ho...

The Shareholder Loan — What It Is and How Not to Get Burned If you're an incorporated Canadian business owner, chances are you have a shareholder loan account — even if you've never looked at it. It's one of the most important accounts on your balance sheet, and if it's not managed correctly, it can result in a significant and unexpected tax bill. In this episode I explain exactly how shareholder...

The 4 Tax Obligations Every Corporation Must Know When you incorporate your business in Canada, your tax obligations change significantly. In this episode I walk through the four primary tax obligations that apply to all Canadian corporations — so you know what's coming and can plan accordingly. In this episode: Corporate income tax — filing deadlines, year end selection, and why earlier is better...

Salary or Dividends? It's Not Just About Tax One of the most common questions I get from incorporated business owners is whether to take a salary or dividends. But that's not quite the right question. The right question is: what's the best compensation strategy for your business and your circumstances? In this episode I walk through all the factors you need to consider to make that decision well....

Just Incorporated? 7 Things to Do in Your First 90 Days You've taken the leap and incorporated your business — congratulations. But incorporation is just the beginning. In this episode I walk through the seven essential things you need to put in place within your first 90 days to make sure everything runs smoothly and you don't end up paying more than you should down the road. In this episode: Why...

Should You Incorporate? The Pros, Cons and Tax Reality One of the most common questions I get as a CPA and financial consultant is whether to incorporate. In this episode I walk through the key considerations so you can make an informed decision. In this episode: What a corporation is and how it differs from a sole proprietorship Limited liability and when it matters Credibility, professionalism a...