This channel is such a generous resource. 🇨🇦 For your next Q&A: can you set up a corporation with a simple ownership structure, but later transfer ownership to a HoldingCo? I know the OpCo-HoldCo setup has some benefits in the long run, but it seems onerous to administer two corps when things are still small.
Thanks so much! I will definitely add this to the next Q&A. The short answer is yes, it can be done later. You would usually hire a tax specialist or tax lawyer to help with this kind of transaction.
Hi, I'm a self-employed carpenter. I spend money for material with the credit card. I receive money on my savings account. Credit card balance gets withdrawn from the saving account at the end of the month. I invoice my customers for the stuff I bought on their behalf +25%, along with the labour. Why would I need a bookkeeper ? Thanks, Xavier
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This was such a great video as I'm a new bookkeeper, but over 40 years of business experieces. Thank you
Glad you enjoyed it!
Very helpful. Thank you.
Fantastic Video Content, Thank you for making this video. Soo many points I wish I had knownt he first year of starting my business, great advice
You're very welcome! Thanks for watching!
Hi Joe. Thanks for the video. This was very helpful. Do you do a bookeeping for manufacturing companies too (bakery production)?
This channel is such a generous resource. 🇨🇦 For your next Q&A: can you set up a corporation with a simple ownership structure, but later transfer ownership to a HoldingCo? I know the OpCo-HoldCo setup has some benefits in the long run, but it seems onerous to administer two corps when things are still small.
Thanks so much! I will definitely add this to the next Q&A. The short answer is yes, it can be done later. You would usually hire a tax specialist or tax lawyer to help with this kind of transaction.
Where is your service based out of? I know you said online, but I lkve in Canada, so I'm curious where head office is.
We are based in Victoria but have team members coast to coast:)
Hi, I'm a self-employed carpenter. I spend money for material with the credit card. I receive money on my savings account. Credit card balance gets withdrawn from the saving account at the end of the month. I invoice my customers for the stuff I bought on their behalf +25%, along with the labour. Why would I need a bookkeeper ? Thanks, Xavier
Great video Joe! Did you get your firm to 5million topline revenue yet?