How To Save Taxes For the Self Employed in Canada

[@WorkAnywhereGo]

Great video, first time seeing a video breaking down the practical tax tips so well.

[@General_Crock]

This is a really well done video with good tips. Nice job!

[@AllanMadanCA]

Thank you for your positive feedback

[@AntonyLe55]

Question: Number 5 and Number 8, what's the difference? What I'm getting from both is that you can get taxed only 15% by incorporating. I don't understand the "multiplying small business deduction" and "CCPCS" references. Can you help please? Thanks!

[@Teabone3]

If you are renting, can you make any utility claims?

[@ianwong-pianistcomposer1150]

Great video! Do you have any videos on the value of tax deferral as it relates to incorporating as a small business owner?

[@samchacko007]

Man awesome....unbelievable video...you know the stuff you do

[@AllanMadanCA]

Thank you!

[@xarakus]

How up to date is the information in this video in 2020? Like corporate tax rate of 15% below 500k of income.

[@SukhpreetSingh-dq7ym]

Hi Allan, I have a question. I am a freelancer on Upwork and I don't have a Company name I want to know can I deduct all the expenses that you listed above or Do I need to open an Agency account on Upwork to avail those deductions? Thanks

[@hunbun914]

What's the minimum age your child has to be to pay them this way?

[@CC-jy4gr]

Yes what is the answer to this?

[@mudassarinaam9032]

dear sir....by incorporating the business you means that the personal income tqx would be paid minusing the low corporate tax???

[@katepark9643]

In regard to pay fmaily memeber salary, doe sit required to make source deduction and pay employer portion of EI, CPP as well?

[@AllanMadanCA]

Hi Kate, Yes, payroll taxes (income tax and CPP) should be deducted form the payment of salary made to a family member. In most cases, family members and their employers do not have to pay EI premiums.

[@arunkumar-xc8cv]

Hi Allan I am newly opening a bed & breakfast operation with four commercial room in my home where in live . 50% of the total space of the house is using for commercial use . can u pls let me Whether I should operatethe B&B business in a corporate name or in a sole proprietor ship ? Which one is more beneficial for me tax wise?

[@createyourreality1111]

What would a legal spouse be in this case re paying a family member? Like would my live-in boyfriend of 1.5 years count?

[@builderindustrial]

Very good, very well explain, thank you

[@tihomirtodorov7201]

Awesome video!

[@jpaul1030]

Is that $800 monthly deduction for vehicle leasing per vehicle or for your whole fleet?

[@AllanMadanCA]

The limit of $800 is per vehicle.

[@sirraymondluxuryyacht8131]

Covert the master bedroom into your office - sleep in the small bedroom :-)

[@walterkocher]

Great Video - thanks - liked

[@desmondodell2351]

That was amazing!

[@thebrownmamba7707]

Hi Allan, I'm living in Canada, I just wanna ask if it's normal to have a refund even you don't pay taxes? I have a $10,000 income as self employed and the only income, all from Google Adsense.My first time to file a return. I'm a graphic artist and also a youtuber on my other channel. My friend say it is because of refundable tax credit (from Canada Working Benefit & Climate Action Incentive). My question is why I'm eligible for this when I didn't even pay any taxes to government? I have $1k refund BTW

[@ahmaddaboul2681]

Correct Climate incentive and CWB are refundable tax credit as fa as I know which means if you don't owe tax you are eligible for refund

[@mrathos]

Great video

[@allanssozi8910]

Hello sir, thanks for a well put together video! If I may ask, as an Uber driver how much would u charge me to file my taxes for me?

[@AllanMadanCA]

Hi, my fee to file a tax return for an uber driver is $550 + disbursements and taxes.

[@rajeshvashisht4129]

really good.

[@achannel5066]

(1) Can a self employed Transgender person made a contribution made to the private H&W trust?. Being a transgender self-employment person, she or he needs to or must have a Facial surgery, breast surgery or other body altering surgery to look alike the opposite gender feature. In other words"plastic reconstruction surgery is needed to perform for her physical and mental well being..would that be allowed to pay as a medical tax deductible funds and a tax tree? (2).As for a self -employer How much amount or percentage from income can be contributed in Private Health and Welfare Trust ? (3) How much amount of contribution money can be drawn for a plastic surgery purpose? I know this is more like to be a medical insurance plan . Anyway..I just wanted to know if you can..

[@AllanMadanCA]

Thank you for your question. My responses are as follows: 1. Private Health & Welfare Trust and Health and Welfare Trust are the same. 2. The sole owner should be an employee of the company and should be receiving employment income from the company (through payroll). 3. I am not aware if plastic reconstruction surgery expenses will qualify in your case for the HWT. 4. The amount contributed to the HWT must be reasonable (similar to what other organizations of the same or similar size would contribute for their employees)

[@achannel5066]

Allan Madan: Thanks for the reply. What if a self employed third Gender(Transgender) person paid from her own saving for her "Facial feminization surgery" It's necessary or a must for her nature ( characteristic & well being ), can the cost of surgery be tax free?. We are talking about (CAD 12,000-32,000). Thanks

[@tannermaygard2161]

are these options still viable for 2019?

[@AllanMadanCA]

Hi Tanner, Yes, they are still available.

[@baccaratplaza4140]

@@AllanMadanCA 2020/2021?

[@kevywilliams3304]

He’s skipping the part the family members need an actual job !!!

[@AntonyLe55]

@2:09 it was brushed over but it's there: he mentions you need to keep a work log, and the employment agreements shows the jobs/duties, They need to do things like photocopy lol! I would love $11K to photocopy (Megan's job @2:26). It's just an example of course!

[@AntonyLe55]

@2:26 I want Megan's job. over $11K to photocopy :)

[@honey-zt9sl]

The third flute laterally slip because kimberly finallly dry next a nine tights. absorbed, direful plow

[@CC-jy4gr]

yes yes!

[@captaincrunch1544]

cute with pictures / drawings