Starting a Business in Canada | Your Questions Answered

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This video covers the biggest questions we get from new business owners:
0:00 Introduction
0:58 Do this before anything else.
2:58 Should I Incorporate my business?
4:39 What do I need to register for?
9:17 Do I need to register for GST/HST and other Sales Taxes?
13:00 How do I pay myself from my business?
16:30 What can I expense in my business?
18:55 How do I keep track of my revenue and expenses?
22:28 What are the common pitfalls in the first year of business?
27:49 Your Questions and Next Steps
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Free Bookkeeping Template: • Free Small Business Bo...
Holding Company in Canada | What is it for? Check out our blog for the text version: bit.ly/HoldCo
Suggested Video: How to Pay Yourself from Your Corporation | Dividends vs. Salary: bit.ly/AVADIVSAL
Want to Run Your Payroll for Free? How to Run Your Own Payroll in Canada for Free: bit.ly/FREEPAYR...
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Connect
* Website: www.avalonacco...
* Facebook: / avalonaccoun. .
* Instagram: / avaloncpa
* LinkedIn: / aval. .
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FAQs
What Can I Write-off? bit.ly/EXPENSESCAN
Should I incorporate my business in Canada? bit.ly/INCORPCAN
What is a shareholder loan? bit.ly/SHLOANCAN
When and How Should I Hire an Employee? bit.ly/hirelike...
Should I offer profit sharing? bit.ly/PROFITSH...
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Check out some of our FREE guides:
Starting Your Business Guide:
joecollins.typ...
Business Owner’s Productivity Guide:
joecollins.typ...
Financial Foundations Guide:
joecollins.typ...
1 Million Dollar Service Based Business Guide: joecollins.typ...
Manage Your Own Bookkeeping Course:
avalonacountin...

[@originalrnd]

Truly the rock star of Canadian taxes laws and business philosophies . Good job Joe!

[@mohammeds7987]

I am so grateful for the fact that I found Avalon Accounting here on KZbin. I have so much more clarity! Thanks, Joe and team.

[@AuthenticallyTee]

I work in corporate law at the largest law firm in Toronto and your information is 100% correct. The clarity with which you deliver your message surely will help many people. Great platform. New subscriber.

[@AvalonAccounting]

Hey, really appreciate this! Welcome, hope you'll find lots of value in our videos! :)

[@teacher_jamiee4642]

My man, the info you're providing is pure gold. Thank you so much! I'm trying to start a company while living here in Taiwan and I was hoping if you could give some advice to non-residents covering: 1) A Canadian company operating in Taiwan 2) Cross border taxes 3) How a Canadian with a business abroad could benefit from paying taxes in Canada. 4) Any other special cases for people that are Non-residents for tax purposes. Thanks my man!

[@InduIyer88]

As my brother says, "I don't read." XD Seriously though, thank you for this channel and your work! It's been a long search for Canadian focused accounting information. Yay!

[@stephenchenier5005]

Very helpful video! I’ll for sure be checking out your website for more information, thank you!

[@vshri6433]

Thank you for GST info! Another great video

[@AvalonAccounting]

You bet!

[@slamdoozle]

This channel should have way more subs! Awesome content.

[@AvalonAccounting]

Thanks Josh - we appreciate that comment and agree :) Workin' on it!

[@jasonfriesen8342]

Excellent information. Thank you!

[@FurkanKhan100]

this is great! thank you for the thorough explanations :)

[@AvalonAccounting]

You're very welcome!

[@eiengel8563]

You are georgeous thanks

[@PawanYadav-mz7fv]

love your content

[@Gargintua]

Awesome channel 👍

[@cretnotonic]

Do I need a separate BUSINESS bank account for a Sole Proprietorship? Can I just use a regular bank account? Business accounts have such high fees and high min. balance requirements.

[@TeamAristocrats]

love the hair

[@akashdeepsingh7411]

Sir how to take out some money out from corporation and leave rest money in corporation. Please explain it in detail. And does taken out money is charged as personally income and left in business bank account money is charged as business tax. Please tell

[@franklillie]

How does a maytea or indigenous person? start a business

[@FERXAMA]

Is it ok to use a HELOC for funding my incorporated small business? If is it ok, how is it reflected in the books, as a loan to the business or equity? What are the tax implications?

[@webby7562]

hey, I have a question. I plan on launching my business in the near future; does it cost any money to register for PST and GST voluntarily? (IM IN BC)

[@AvalonAccounting]

Hello - There Isn't any cost to register voluntarily.

[@webby7562]

@@AvalonAccounting thanks a lot for the reply.

[@darppatel9550]

Do I need to register my company in ontario in order to operate in ontario? Currently, I am incorporated federally.

[@lakhan911]

👏 love this video

[@ataghader3344]

Great video

[@eiengel8563]

Thanks a Lot I was wondering if You sell a virtual bookkeeping course for start this kind of business in Canadá ?

[@AvalonAccounting]

Yes, we do! avalonacounting.thinkific.com/courses/bookkeeping-course

[@dougiep2769]

Your crazy to open a business in Canada. Absolutely crazy