Hey Reni can you make a video on inflation in Canada and how small business owners can survive the turbulent times? Also, can you explain the new carbon tax and how to stay profitable?
Great video. Thank you. Definitely need a part 2. Would be great if you could explain about how to pay yourself from a corporation and the effect that has on taxes... I've just moved to Toronto from the UK and the business setup landscape is a lot more complex here... If you have a moment I'd like to pick your brains: I'm a sound/video engineer who works in live corporarte events. In the UK I was a sole prop (much simpler over there!) but had public liability insurance to protect against damage, injury and causing death (it's a potentially quite dangerous work environment with lots of electrical and mechanical risk to others). Would incorporating make more sense as it provides that layer of abstractio from me in the event of accidents and damages? Sole prop with a registered business name is certainly simpler but doesn't have the same risk protections. Thanks in advance for your time.
Thank you so much and congratulations on the move! I'll share more about how I pay myself from my corporation in a future video :) I'll go through paying yourself through dividends vs. paying yourself a salary. I think that in your case, a sole prop + insurance may be sufficient and depending on how much income you make, it may not even be beneficial to incorporate yet. I would definitely suggest working with a tax account to ensure you're making the right choice financially and liability wise. Here is a playlist from some tax professionals that you can reach out to: czcams.com/video/bICDCLal0KU/video.html&pp=gAQBiAQB
@@xoReni so kind of like 1. How track business finances. (Income and expenses breakdown for your own record keeping but also for tax filing and reporting). Is there a software that you use? 2. With personal finance you know you have your four quadrant planning, is it the same with business. As in you have your expenses, do you save, invest and have wealth protection? 3. You’ve shown us what you do when you get paid on your personal side, but what do you do when you get paid on your business side? How is that money managed. 4. Business book keeping. When starting a business, what should your book keeping look like?
Great video! Part 2 please! I need to see more entrepreneurship/business owner content for Canadians.
Thank you for the feedback x
I have lots to share, will create more 😄
Part two is out! 🎉
Check it out here: czcams.com/video/y8PWqacXbdk/video.htmlsi=uYV3gRLZ-koSaCmo
Tax season is brutal! Having an accountant saves me so much stress
Nahhh accountants are the real MVPs!
Love how you broke down the HST threshold. I realized a lot of people don’t know
Thank you! Soooo many people don't know and can get into a lot of tax trouble...
This was super informative Reni!!! I always find HST confusing but this was helpful
So glad I could help, Andrea! 🥰 thank you for watching!!
Your content is great Reni. Very beneficial for Free.99. Part 2 would be appreciated.
So glad it is helpful! Thank you for the feedback 🥰
Part two is out! 🎉
Check it out here: czcams.com/video/y8PWqacXbdk/video.htmlsi=uYV3gRLZ-koSaCmo
Just finished watching! This was super insightful :)
So glad it was helpful 🤗
part 2 please!!!!!...Thanks Reni!!!!
Okay will do! Thank you for the feedback x
Thanks Reni. This was insightful. More please
My pleasure! Thank you for watching. Part two dropping shortly!
Part two is out! 🎉
Check it out here: czcams.com/video/y8PWqacXbdk/video.htmlsi=uYV3gRLZ-koSaCmo
great video, as usual. thank you!
Thank you so much lovely! x
Part 2 please!!!!
Coming right up 😋
Very helpful. I've been making some mistakes...thank you. Part 2!
My pleasure! 😊
Part two is out! 🎉
Check it out here: czcams.com/video/y8PWqacXbdk/video.htmlsi=uYV3gRLZ-koSaCmo
Hey Reni can you make a video on inflation in Canada and how small business owners can survive the turbulent times? Also, can you explain the new carbon tax and how to stay profitable?
Hi! Great ideas! I will add this to my list :)
Do you mean explain the new carbon tax and how it impacts businesses?
What mistakes have you made? Let me know below! 😊
Let me know if you want part two!
I want to see part 2!!
Coming right up! Thank you for watching 🥰
Part two is out! 🎉
Check it out here: czcams.com/video/y8PWqacXbdk/video.htmlsi=uYV3gRLZ-koSaCmo
Great video. Thank you. Definitely need a part 2. Would be great if you could explain about how to pay yourself from a corporation and the effect that has on taxes...
I've just moved to Toronto from the UK and the business setup landscape is a lot more complex here...
If you have a moment I'd like to pick your brains: I'm a sound/video engineer who works in live corporarte events. In the UK I was a sole prop (much simpler over there!) but had public liability insurance to protect against damage, injury and causing death (it's a potentially quite dangerous work environment with lots of electrical and mechanical risk to others).
Would incorporating make more sense as it provides that layer of abstractio from me in the event of accidents and damages? Sole prop with a registered business name is certainly simpler but doesn't have the same risk protections.
Thanks in advance for your time.
Thank you so much and congratulations on the move! I'll share more about how I pay myself from my corporation in a future video :) I'll go through paying yourself through dividends vs. paying yourself a salary.
I think that in your case, a sole prop + insurance may be sufficient and depending on how much income you make, it may not even be beneficial to incorporate yet. I would definitely suggest working with a tax account to ensure you're making the right choice financially and liability wise.
Here is a playlist from some tax professionals that you can reach out to: czcams.com/video/bICDCLal0KU/video.html&pp=gAQBiAQB
Part two is out! 🎉
Check it out here: czcams.com/video/y8PWqacXbdk/video.htmlsi=uYV3gRLZ-koSaCmo
Great video! part 2!
Thank you so much! Will do 😃
Part two is out! 🎉
Check it out here: czcams.com/video/y8PWqacXbdk/video.htmlsi=uYV3gRLZ-koSaCmo
Great info! You look alot like Blaque Witch YaYa. I had to take a second look!
No idea who that is 😆 thank you for watching!!!
Loved the video! Could you do a video on how you manage your business finances? 😅
Thank you! I can😊 manage in which way exactly?
@@xoReni so kind of like
1. How track business finances. (Income and expenses breakdown for your own record keeping but also for tax filing and reporting). Is there a software that you use?
2. With personal finance you know you have your four quadrant planning, is it the same with business. As in you have your expenses, do you save, invest and have wealth protection?
3. You’ve shown us what you do when you get paid on your personal side, but what do you do when you get paid on your business side? How is that money managed.
4. Business book keeping. When starting a business, what should your book keeping look like?
@@taiwojoseph_ookay will do! Thanks for the detailed questions 😊
Part two is out! 🎉
Check it out here: czcams.com/video/y8PWqacXbdk/video.htmlsi=uYV3gRLZ-koSaCmo
To think I was awake.
You were missed! 😆
@@xoReni i don't like to miss the premieres.