The Incorporated Canadian

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, how investment income is taxed inside a corporation, and the key concepts every incorporated Canadian should know about.What we cover:Why corporate investing matters and who it's forHow investing through a corporation actually worksTypes of investment income and how they're taxed differentlyRDTOH (Refundable Dividend Tax on Hand)The Capital Dividend Account (CDA)Passive income rules and the Small Business DeductionRRSP and TFSA considerationsAre you ready to invest inside your corporation?Want to go deeper? I've put together a masterclass with worked examples, planning considerations, and a full breakdown of the key concepts: learn.montrealfinancial.ca/investing-through-your-corporation-what-every-incorporated-canadian-needs-to-knowFree resources for incorporated Canadians: montrealfinancial.ca/corporationsSign up for the newsletter: montrealfinancial.ca/newsletter

The Shareholder Loan — What It Is and How Not to Get BurnedIf 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 loans work and how to stay on the right side of the rules.In this episode:What a shareholder loan account is and how it worksThe two directions — lending to the corporation vs borrowing from itWhy borrowing from your corporation can trigger tax consequencesThe one fiscal year repayment rule — with a real numbers exampleThe series of loans trap CRA watches forHow dividends and salary interact with your shareholder loan balanceQuebec — two sets of eyes on your booksHow to check your balance right now and what to do about itWhy picking a withdrawal strategy is essentialResources:More resources for incorporated Canadians: montrealfinancial.ca/corporationsSubscribe to my newsletter: montrealfinancial.ca/newsletter

The 4 Tax Obligations Every Corporation Must KnowWhen 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 betterDividends — T5 and RL-3 filing requirements and deadlinesSales taxes — GST, HST, and QST registration rules and when to register earlyPayroll — hiring yourself as an employee and why it might make senseCPP/QPP contributions and RRSP room implicationsQuebec-specific deadlines and rules throughoutResources:More resources for incorporated Canadians: montrealfinancial.ca/corporationsSubscribe to my newsletter: montrealfinancial.ca/newsletter

Salary or Dividends? It's Not Just About TaxOne 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.In this episode:Why the salary vs dividends question is more nuanced than most people thinkCash flow and stability — salary vs dividend differencesTax installments and timingRRSP contribution room and why it mattersCPP and QPP — the forced retirement savings argumentHow your corporate strategy affects your compensation choicePersonal financial goals — FHSA, RRSP, and mixed strategiesWhy Quebec incorporated professionals should pay close attentionThe tax concept of integration and what it means for your decisionResources:More resources for incorporated Canadians: montrealfinancial.ca/corporationsSubscribe to my newsletter: montrealfinancial.ca/newsletter

Just Incorporated? 7 Things to Do in Your First 90 DaysYou'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 incorporation requires a mindset shiftSetting up your corporate bank account and credit cardChoosing and setting up accounting softwareRegistering for sales taxes (GST, HST, QST)How to pay yourself — salary vs dividends overviewTracking expenses and keeping recordsUnderstanding your tax filing obligationsFinding the right accountantResources:More resources for incorporated Canadians: montrealfinancial.ca/corporationsSubscribe to my newsletter: montrealfinancial.ca/newsletter

Should You Incorporate? The Pros, Cons and Tax RealityOne 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 proprietorshipLimited liability and when it mattersCredibility, professionalism and access to capitalHow corporate tax deferral actually works — with a real numbers exampleThe lifetime capital gains exemptionThe cons: administration, costs, complexity and lossesResources:More resources for incorporated Canadians: montrealfinancial.ca/corporationsSubscribe to my newsletter: montrealfinancial.ca/newsletter