Incorporating Your Business? Watch this first and save THOUSANDS! [Video]

Should You Incorporate? Learn about the potential benefits and pitfalls to avoid.

Check out Xero ▶️ https://www.avalonacademy.ca/xero-canada
(Start today with our Xero affiliate link)

Download Your Incorporation Worksheet ▶️ https://avalonaccounting.typeform.com/to/mHfrilv7

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🎥 CONTENTS OF THIS VIDEO

00:00 – Introduction
01:01 – Deciding Whether or Not to Incorporate
01:24 – Incorporation Worksheet
01:40 – Question 1. Your Plan for the Business
01:58 – Question 2. Legal Liability
02:14 – Question 3. Expected Earnings
02:41 – Question 4. Outside Investment
03:00 – Question 5. Plan to Sell the Business
03:33 – Question 6. Just Want to Be Your Own Boss
03:53 – Question 7. Annual Upkeep Costs
04:15 – Question 8. Losses in the First Year
04:49 – Question 9. You Value Simplicity
05:07 – Question 10. Testing a Business Idea
07:11 – DIY Incorporation
07:54 – Online Incorporation Services like Ownr
08:52 – Full-Service Law Firm
09:47 – Cost of the Wrong Decision
10:44 – Jurisdiction of Incorporation
12:12 – After Incorporation
13:07 – Paying Yourself
15:17 – How Much You Could Save!
15:34 – Just Want to Be Your Own Boss
15:56 – Legal Liability
16:15 – You Earn More Than You Need
17:02 – Lifetime Capital Gains Exemption

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🔗 MENTIONED IN THIS VIDEO

► This Video is Brought to you by Xero
https://www.avalonacademy.ca/xero-canada (Start today with our Xero affiliate link)

► Download Your Incorporation Worksheet
https://avalonaccounting.typeform.com/to/mHfrilv7

► Ownr affiliate link:
https://www.ownr.co/partners/avalon-accounting?gspk=avalon564

► What is a Section 85 Rollover Blog Post:
https://www.avalonaccounting.ca/blog/section-85-rollover

► Corporate Share Structure Blog Post: https://www.avalonaccounting.ca/blog/corporate-share-structure-tax-considerations-for-canadian-businesses

► Corporate Share Structure Video:
https://youtu.be/lPeWt3FdZHE?si=y_9IU-okz1LrXvFk

► How to Pay Yourself from Your Corporation:
https://www.avalonaccounting.ca/blog/salary-vs-dividends

► Salary vs Dividends Video:
https://youtu.be/jEBSotyZwU0?si=dPLgjcGL8IQmSC6P

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🅰️ AVALON ACCOUNTING

Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada.

We provide online bookkeeping, accounting services and expert financial advice for small businesses.

We are on a mission to educate small business owners through our YouTube channel, blog and free resources. Check out our links below to dive in.

► Website: https://www.avalonaccounting.ca/

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🧑‍🏫 ONLINE COURSES

🖥️ LEARN MODERN BOOKKEEPING WITH XERO
► Learn to do your own bookkeeping with modern tools and our proven practices.
https://www.avalonaccounting.ca/courses/bookkeeping-with-xero-and-dext