My Free Courses: ✅ My FREE Stock Market Investing Course: skl.sh/3ODk1tN ✅ A Beginner's Guide to Personal Finance: www.udemy.com/course/beginner-guide-personal-finance/?referralCode=A003C9306D1F100D2FCD Trading/Investing Accounts: ✅ Get $50 & Commission-Free Trades on Wealthsimple Trade: wealthsimple.sjv.io/yxYA3 ✅ Open a TFSA with Questrade and get $50 in FREE Trades: bit.ly/Questrade-Griffin
This is great! I've been thinking about changing my business from sole proprietor to incorporated but been dreading the paperwork. This definitely makes it palatable, so THANK YOU!
I was lucky I came back to this video I began starting incorporating and realized I incorporate for ontario and not canada. I was so lucky I never clicked purchase yet! This video is a life save now I'm in federal doing it properly
Hi Griffin, Thank you so much for the amazing and productive videos. I have been learning a lot from them. I live in Alberta and have opened an account on Amazon US and want to do wholesale FBA. I have a couple of questions. * Does corporation only help us in taxation or also in buying products from product suppliers? As I heard they only sell their products to a business/corporation not individuals. * I can’t provide EIN as a Canadian, what should I use in W8 tax form? * What bank do you suggest for cross border banking? Please make a step by step video on how to contact and buy products from suppliers. Thank you Griffin!
I am BLOWN AWAY by the quality of your AMAZING video. Subscribed! Need to know if you can add DBAs to the Simple Inc option vs the Custom? Example: if my leadership education training company (online) business that has electronic products and may in a year buy a retreat property in Europe, is complex enough to warrant incorporating the Custom method?
Im planning to create a corporation, my co founder living in California. Is there any specific steps i should be taking when registering? Im the primary and we agreed to operate in canada (federal)
I read on ownr website that a provincial corp can still do business anywhere in CA and also internationally. There are no restrictions with who they can do business with.
Hi G. I im going through the steps with the video and am so happy it's easy to follow. Question: what if I change the paid name from my initial name to an updated one because the name is already a website in another country. i don't want to mix them up.
No, everyone pays the same tax in Canada! Does not matter if you are self-employed sole proprietorship or a registered corporation! The only difference is if incorporated you won't be sued personally and lose personal items. The Canadian Government taxes everyone at the same rate! George Nylan, Accountant
how many income streams can i have coming into one business account. lets say i have 2 ecom stores and a marketing agency, can i have income come in from each of them into one corporation or should i set up multiple corporations for each?
It doesn't make sense to incorporate federally unless you live in Ontario. For any other province you need to incorporate provincially even if you incorporated federally and have to pay for both. So I recommend one incorporate provincially first then if you want to expand look into incorporating federally.
hiii , I SUBMITTED BUSINESS COROPERATION FILE OF MY HUSBAND BUT ON THE ARTICLES OF INCOROPERATION PDF AT THE END MY NAME IS APPEARED , I HAVE A DOUBT , ARE WE ON THE RIGHT TRACK OR NOT ? PLEASE REPLY ME .
Thank you for the details. I have 2 questions. 1. Can I have a company name later down the line after registering as a basic incorporation? What is the process? 2. Also, if my online business is currently having a name, how can I link the name with the basic company name which is a number. Thank you
1. Yes you can. You can pay a fee for a change request. 2. If you already have a company name, you can choose to « do business as » that name on behalf of the numbered company (same company under the hood)
I'm confused with the term "Canadian Resident"? I'm on work permit living in canada for more than a year so can I be canadian resident & open corporation?
Once you incorporate, I hear you have to have your accounts balanced and might need more accounting services to keep up with book keeping. Is that true?
Hey also, my wife and I own a clinic. Our accountant said to maybe incorporate each other separately to save more on taxes than having just one corporation . Have you heard of this ?
Should I open a business bank account, whats could help me with?, and does this way make me get a certificate of incorporation or business registration license to verify my business on facebook ads manager?
hi griffin, when i try to incorporate business i face error when adding director that it should be 25% canadian . i am on work permit so what can i do ?
Hi griffin thanks for the useful video I am not sure about my case I am a home baker I want to incorporate my bussiness its a home based . How do I pay taxes on it? Whats the tax scenerio in my case I am not getting much order due to recession I am pretty confused about everything
You’re not obligated to incorporate if it’s a very small business. You can run it as a sole proprietorship and report income on your personal tax return.
My Free Courses:
✅ My FREE Stock Market Investing Course: skl.sh/3ODk1tN
✅ A Beginner's Guide to Personal Finance: www.udemy.com/course/beginner-guide-personal-finance/?referralCode=A003C9306D1F100D2FCD
Trading/Investing Accounts:
✅ Get $50 & Commission-Free Trades on Wealthsimple Trade: wealthsimple.sjv.io/yxYA3
✅ Open a TFSA with Questrade and get $50 in FREE Trades: bit.ly/Questrade-Griffin
This is great! I've been thinking about changing my business from sole proprietor to incorporated but been dreading the paperwork. This definitely makes it palatable, so THANK YOU!
Glad it was helpful!
This is awesome! I will use this video in the Entrepreneur 20 class I teach. I've already used so many of your videos in my financial literacy class.
Awesome! Thank you!
Your video helped me alot! Just incorporated my business ☺
Sweet! Thanks for watching
This was very helpful, thank you. How do I define how many Class A and Class B shares to issue, and who holds them?
I was lucky I came back to this video I began starting incorporating and realized I incorporate for ontario and not canada. I was so lucky I never clicked purchase yet! This video is a life save now I'm in federal doing it properly
Griffin, no matter what stage of life i’m at, you always seem to put out the perfect video for what I need at the current moment. Mind reader!!
There you go, I've got a super power :) Thanks for watching
super helpful to follow along!! incorporated :)
Glad it was helpful!
Hi Griffin,
Thank you so much for the amazing and productive videos. I have been learning a lot from them. I live in Alberta and have opened an account on Amazon US and want to do wholesale FBA. I have a couple of questions.
* Does corporation only help us in taxation or also in buying products from product suppliers? As I heard they only sell their products to a business/corporation not individuals.
* I can’t provide EIN as a Canadian, what should I use in W8 tax form?
* What bank do you suggest for cross border banking?
Please make a step by step video on how to contact and buy products from suppliers.
Thank you Griffin!
Awesome video. This was extremely helpful!
I am BLOWN AWAY by the quality of your AMAZING video. Subscribed! Need to know if you can add DBAs to the Simple Inc option vs the Custom?
Example: if my leadership education training company (online) business that has electronic products and may in a year buy a retreat property in Europe, is complex enough to warrant incorporating the Custom method?
Thank you! I went to the wrong place and it was so frustrating - business registered :)
Super helpful!!
Glad it was helpful!
this is very helpful, thank you!
Im planning to create a corporation, my co founder living in California. Is there any specific steps i should be taking when registering? Im the primary and we agreed to operate in canada (federal)
Hey, I have a name request number for when I claimed my name. When would this be used?
How many days before receiving the Certificate of Incorporation?
where do I choose a provincial corporation? or this is only for federal?
I read on ownr website that a provincial corp can still do business anywhere in CA and also internationally. There are no restrictions with who they can do business with.
I guess a provincial corp can not receive federal loan.
This is super helpful. 🙏🙏
Great! Thanks for tuning in
Thank you for the great video.
Can you make a video on how to remit GST/HST for first-timer filing GST/HST?
I’ll consider it!
Is this for a provincial corporation?
Can a numbered name company have alphabets in it such as 123A? Thank you
Hi G. I im going through the steps with the video and am so happy it's easy to follow. Question: what if I change the paid name from my initial name to an updated one because the name is already a website in another country. i don't want to mix them up.
Hello
I registered incorpora but I didn’t receive payment
Also it’s been two days I registered and I didn’t receive any email
What should I do ?
No, everyone pays the same tax in Canada! Does not matter if you are self-employed sole proprietorship or a registered corporation! The only difference is if incorporated you won't be sued personally and lose personal items. The Canadian Government taxes everyone at the same rate! George Nylan, Accountant
The corporation pays less tax. You, as an individual, pay the same tax at 53%. Which is literal robbery. But you can claim less as an individual
But with a corporation I can add my car as a asset of the company and pay less yax
how many income streams can i have coming into one business account. lets say i have 2 ecom stores and a marketing agency, can i have income come in from each of them into one corporation or should i set up multiple corporations for each?
You can in theory. Totally depends on the goal of your corporations though and their structure.
thank you so much, its so helpful!
Glad it was helpful!
It doesn't make sense to incorporate federally unless you live in Ontario. For any other province you need to incorporate provincially even if you incorporated federally and have to pay for both. So I recommend one incorporate provincially first then if you want to expand look into incorporating federally.
I live in bc and I registered under federal....do I need register under BC again?
hiii ,
I SUBMITTED BUSINESS COROPERATION FILE OF MY HUSBAND BUT ON THE ARTICLES OF INCOROPERATION PDF AT THE END MY NAME IS APPEARED ,
I HAVE A DOUBT , ARE WE ON THE RIGHT TRACK OR NOT ?
PLEASE REPLY ME .
If I incorporate my business does that automatically trademark my business name?
No it does not
great content Griffin.
Thanks for watching Will!
Thank you for the details. I have 2 questions.
1. Can I have a company name later down the line after registering as a basic incorporation? What is the process?
2. Also, if my online business is currently having a name, how can I link the name with the basic company name which is a number.
Thank you
1. Yes you can. You can pay a fee for a change request.
2. If you already have a company name, you can choose to « do business as » that name on behalf of the numbered company (same company under the hood)
@@GriffinMilks thank you for the reply!!
I'm confused with the term "Canadian Resident"? I'm on work permit living in canada for more than a year so can I be canadian resident & open corporation?
Yes. You’re a resident. Not necessarily a citizen, but a resident
If my business is in person only in one province but I want to run virtual services worldwide, does it still work to only have provincial corporation
Yes, that's irrelevant
Once you incorporate, I hear you have to have your accounts balanced and might need more accounting services to keep up with book keeping. Is that true?
Yes, you have additional accounting requirements with a corporation
Hey also, my wife and I own a clinic. Our accountant said to maybe incorporate each other separately to save more on taxes than having just one corporation . Have you heard of this ?
Should I open a business bank account, whats could help me with?, and does this way make me get a certificate of incorporation or business registration license to verify my business on facebook ads manager?
If you have an active corp, you need a business bank account, yes.
hi griffin, when i try to incorporate business i face error when adding director that it should be 25% canadian . i am on work permit so what can i do ?
I’m not sure. Contact Corporations Canada with a question like this.
Hello Brother..
Can you help me out in the same issue.
What did you done with 25% canadian ?
@@parambhullar5229 bro just say yes when they ask for permanent residency even your on wp
Hi griffin thanks for the useful video
I am not sure about my case
I am a home baker I want to incorporate my bussiness its a home based . How do I pay taxes on it? Whats the tax scenerio in my case I am not getting much order due to recession I am pretty confused about everything
You’re not obligated to incorporate if it’s a very small business. You can run it as a sole proprietorship and report income on your personal tax return.
Is it a must to hire a accountant?
Hi , can I incorporate my business as a student ? If yes can you tell me how can we do it
As long as you're over 18, yes you can.
Hi sir,
Please reply, I really need your help. Thank you!
Yes
Please remove that background music.
Thanks for the feedback and for watching!
Super helpful, thank you!!!!!!