Get the dividend and pay your house cash. No need of the mortgage. Same for the car, you don't need the load or finance, if you get enough money from the dividends.
@michaelpeever449215 сағат бұрын
My experience as a bookkeeper is more the OPPOSITE of what you’re suggesting in that owners often pay for personal, non-business purchases through the business. These are correctly recorded as a Shareholder Loan. At year end, a Dividend is issued to clear out the Shareholder Loan to $0.
@smn170515 сағат бұрын
Very useful information
@Jaspreet_0721 сағат бұрын
Hi Please update the payroll sheet to latest one. I know it is difficult to update video. Thank you.
@polina54252 күн бұрын
Very useful and short video. Thank you!
@michaelpeever44922 күн бұрын
Plus, one day you will be old (like me!) and want to collect on your CPP!
@Rej8002 күн бұрын
Thanks Joe! I would love to hear your thoughts about investing in personal TFSA/RRSP vs inside the corporation
@realtornezam2 күн бұрын
Great video, and its very clear, concise and to the point. Thank you. I always was struggling about dividends. Quick question, as a business owner, can you declare your personal income on a yearly basis as opposed to monthly? What I mean by this is when you do your taxes at the end of the year, can you then pay for income tax, CPP EI etc at once for the whole year, like the dividend, or should it be reported and taxes/cpp paid on a monthly basis? Thanks in advance!
@michaelpeever44923 күн бұрын
I agree that having different classes of shares is a good idea in that it allows for you to pay dividends in various amounts to the different share classes.
@vurujak3 күн бұрын
Very good very good
@0nanana04 күн бұрын
@19:36 (bookmarking for reference)
@NorthernTrapper4 күн бұрын
Glad to see some Canadian content. Your videos are helpful. Cheers
@smolsunflower95994 күн бұрын
Really appreciate the template. Made sure to like each video in the series and subscribed as well! :)
@elinsings7 күн бұрын
Your “article below” for business expenses doesn’t work. 👎
@colinuout27259 күн бұрын
Your talking about a few thousand dollars. This is really nothing when im paying 280 k in taxes. Im not sure this is even worth my time. Its a joke
@colinuout27259 күн бұрын
Your talking about a few thousand dollars. This is really nothing when im paying 280 k in taxes. Im not sure this is even worth my time. Its a joke
@davidkincade9 күн бұрын
Great video! Thanks
@benisrambo10 күн бұрын
Thanks Joe another great video. I always refer my friends to your channel when they ask where to learn about accounting and bookkeeping.
@gowrishkumarjagadeeswara-bs8zv10 күн бұрын
Very informative and I now have better sense of taking money out from corporation. Thanks!
@christophecaron710511 күн бұрын
Very clear! I didn't know all the details. Thanks a lot.
@christophecaron710511 күн бұрын
A discovery for me as I was about to invest inside my corporation! Very enlightening and eye-opening! Thanks. Can I transfer some of the capital to me personally as an RRSP contribution if I pay myself with dividends?
@jamel47212 күн бұрын
Too general ... boring explanation
@tblack2115 күн бұрын
Wouldn’t the tax free portion be 33.3% since the capital gains inclusion rate increase?
@mikepahwa793715 күн бұрын
Thanks Joe !!
@kikibestkaunever16 күн бұрын
thank you so much for all your videos! I don't watch videos on this topic for fun, it's because I have to in order to understand my business, but these videos are so well made, the instructor is a great pédagogue, and all the pop references crack me up, i laughed way too loud when i saw the South Park image. Cheers from Montréal!
@sohamakhani9417 күн бұрын
hello, what is tax on option trading income?
@sohamakhani9417 күн бұрын
hello, what is tax on option trading income?
@josephbuyck712718 күн бұрын
What is the phone number to cra.
@marselalibenstein639519 күн бұрын
All Avalon Corporation lessons are outstanding! Well Done. Many investors having issues understanding corporations and how it work. Thank You for helping us. You changing lives!..Keep It up!
@kikibestkaunever16 күн бұрын
agree!
@DadBodNutrition19 күн бұрын
should I be doing this at the end of the year of tax season? Or should I be doing this monthly? I was hoping to do it monthly/bi weekly
@DadBodNutrition20 күн бұрын
can you do one on how to/can you write off a vacation/trip as a business expense? what requirements do we need to meet?
@MalcomHeart20 күн бұрын
@AvalonAccounting Thanks Joe for the great content and nice presentation. I loved it. I have a few questions and would love to have the opportunity to discuss it with you if you're available. I'm in the process of forming a Wyoming LLC which will serve as a holding company for my future Canadian operating subsidiaries. Does this structure work for the purpose of tax exempt when I move profits from the Cda operating entity to the US holding one in the form of dividends? Thanks again for these great videos and keep it up 💪
@socialadvertising-gr6ef21 күн бұрын
Can i open BANKS / interac ? I am Not resident i live in india
@MrHealthJunkie21 күн бұрын
Why is the futurpreneur maximum age 39 years old? This age cut off is bias.
@diazgpinc23 күн бұрын
This a gold mine ! Thanks for sharing so much value information for Canadians !
@AvalonAccounting22 күн бұрын
You're welcome! Glad it was useful for you!
@compoundingloonies25 күн бұрын
Your videos are top notch! Thank you for this
@AvalonAccounting22 күн бұрын
Thank you so much! Really appreciate the feedback :)
@11511mido25 күн бұрын
They so f controlling. Why becoming hardworking when you can enjoy life and get monthly free money.this country has gone deep on socialism and no come back from it. Lol I need me to put my wife schedule as other people. Really? Who does that?
@BuddyBearCreator27 күн бұрын
this looks so oh oh oh involved
@sunieel408015Ай бұрын
Subscribed !!
@shikhaacholia4820Ай бұрын
How much do you charge for initial consultation?
@8rvdmqrt537Ай бұрын
Very relevant video!
@asayeed2853Ай бұрын
I've been searching for a video on this subject and this was the best one by far!! Your clear explanation and pace made this topic digestable, a big thank you!
@AvalonAccounting22 күн бұрын
Glad it was helpful!
@maxpain3294Ай бұрын
i tried it but it gives unusable bad results
@amazingrankings-seo7676Ай бұрын
When you say family, does this mean family in the house hold, or immediate family?
@CanadianMatt1Ай бұрын
Great video, amazing example names 😂
@AvalonAccounting22 күн бұрын
😜
@bagus853Ай бұрын
Thank you so much, Paul! GBU
@jakelanoue1861Ай бұрын
Question do u have to pay taxes on dividends in this account
@edition819Ай бұрын
He is a Gem 🤝feels like one on one consultancy when watching the video, very clean and informative.
@AvalonAccounting22 күн бұрын
Thanks so much! Glad it was useful for you!
@joeuitvlugt1817Ай бұрын
what is the typical personal tax % at the end of the year for dividens to set aside?