Home
Videos uploaded by user “Allan Madan”
Should I Pay Myself Salary or Dividends from my Corporation?
 
05:30
Should I pay myself salary or dividends from my corporation? This is a very common question that I encounter in my accounting practice in Mississauga & Oakville, and the answer can make a big difference in your bottom line. http://madanca.com/blog/should-i-pay-myself-salary-or-dividends-from-my-corporation-as-a-business-owner/ Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of contents 00:46 -- Salary (Advantages) 02:04 -- Salary (Disadvantages) 02:48 -- Dividends (Advantages and Disadvantages) 04:27 - Breakdown About the Author -- Allan Madan -- Accountant Mississauga Allan Madan is a Chartered Accountant and a Tax Expert in the Toronto, Mississauga and Oakville regions of Ontario, Canada. If you found this article useful, Allan Madan encourages you to visit his website http://madanca.com for additional tax tips and more information on this topic. Also, get access to Allan Madan's Free Report, "20 Tax Secrets on How to Beat the Tax Man," http://www.siteproweb.com/20-free-tax-secrets-from-allan-madan Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 52852 Allan Madan
The 8 Best Tax Write Offs for Small Businesses in Canada
 
06:08
If you are a small business owner in Canada, you may want to recognize the various tax deductions that will help save you money. In this video, the 8 best tax write-offs tips will be discussed. 0:27 – 1. Home-Office Expenses 1:00 – 2. Vehicle Expenses 2:08 – 3. Accounting and Legal Fees 2:23 – 4. Office Rent 2:39 – 5. Advertising 3:40 – 6. Meals and Entertainment 4:16 – 7. Insurance 4:36 – 8. Capital Assets Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 24063 Allan Madan
New Tax Rules for Small Businesses in Canada (2018)
 
05:38
Do you own an incorporated small business? This video will reveal the new changes made to small business taxation, which you should be aware of. 0:44 – 1. Increase in Dividend Tax 2:13 – 2. Family Trusts 4:04 – 3. Tax on Investment Income Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharter... Instagram: https://www.instagram.com/madanaccoun... Google+: https://plus.google.com/1085518694535... Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 27110 Allan Madan
Tax Deductions for Independent Contractors
 
03:11
Are you an independent contractor in Canada? Then this video is for you! This video will show you different business expenses that can be deducted in order to save you money. Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 11402 Allan Madan
How To Save Taxes For the Self Employed in Canada
 
07:21
If you are self-employed and working in Canada, then this video is for you! This video will outline 8 strategies that any self-employed Canadian can use to help save taxes. Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 8659 Allan Madan
Tips For Incorporation Canada
 
04:44
This guide will give you some of the best tips for incorporation Canada you can expect to find on the net. Go through these great tips for incorporating company Canada, benefit, and feel free to share. For more information, read our blog here: http://madanca.com/blog/tips-for-incorporation-canada/ Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant?ref=br_tf Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) https://www.youtube.com/watch?v=HTCV2VIUtjk Table Of Contents 00:43 -- Incorporating Saves Tax 01:13 -- Choosing Between Provincial and Federal Incorporation 02:02 -- Classes Of Shares 02:46 -- Selecting Board Of Directors 03:11 -- Creditor Proofing Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 5618 Allan Madan
Tax Credits for First-Time Home Buyers and Home Owners
 
04:06
First-time home buyers and home-owners are eligible for a wide array of different tax credits. Watch this video to find out more! Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus- https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Timeline: 00:28 -- First time home buyer's tax credit 01:09 -- First time home buyer's tax plan 01:45 -- Healthy home renovation tax credit 02:27 -- New home rebate 02:48 -- Claim home office expenses madanca.com Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 15275 Allan Madan
How to Buy a Home with a Corporation in Canada
 
04:35
Are you a working Canadian who is planning to buy a home? This video will discuss the do’s and don’ts of buying your home with a corporation and how you can purchase it with your company’s money, tax-free. 1:20 – 1. Get a Loan from Your Corporation 1:42 – 2. Pay a Reasonable Amount of Interest 2:08 – 3. Determine the Repayment Terms 2:26 – 4. Verify Your Employment Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 9544 Allan Madan
How to Save Corporate Taxes in Canada
 
09:25
If you're in a corporation, you know the bottom line is critical to your success. Great corporations are always looking for the most efficient ways to save money, and this includes taxes. In this video, I'll show you how your company can start saving on taxes. It is my hope that you will be able to take these tips and keep more of your earnings to grow your business. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of contents 00:18 -- Tip #1 (Salary vs. Dividends) 01:28 -- Tip #2 (Shareholder Loan Repayments) 02:13 -- Tip #3 (Loan to Your Spouse) 03:01 -- Tip #4 (Gifts to Your Children) 03:45 -- Tip #5 (Incorporating) 04:58 -- Tip #6 (Employee Home Purchase Loan) 05:57 -- Tip #7 (Dividend Sprinkling) 06:41 -- Tip #8 (Pay Salary to Spouse or Family Member) 07:21 -- Tip #9 (Tax-Free Automobile Allowance) 08:03 -- Tip #10 (Interest Deduction) About the Author Allan Madan is an Accountant in Toronto and Mississauga. Allan enjoys working with corporations, business owners, investors and employees. He's most interested in advising clients on How to Save Taxes in Canada. To learn more about Allan, please visit http://madanca.com Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 22512 Allan Madan
How to Prepare Corporation Income Tax Return for Business in Canada
 
09:23
How to prepare corporate tax return for Canadian corporations. In this short video, I'll show you, step-by-step, how to file a T2 Corporation Income Tax Return for your corporation. By watching this video, you will save hundreds, or even thousands of dollars in professional fees that would have been paid to an accountant. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant?ref=br_tf Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of contents 00:52 - Income statement 01:18 - Balance Sheet 01:56 - Schedules for preparation of tax return 02:55 - Schedule 100 (Balance Sheet Information) 03:14 - Schedule 125 (Income Statement Information) 03:40 - Schedule 50 (Shareholder Information) 03:56 - Schedule 8 (Capital Cost Allowance [CCA]) 05:02 - Schedule 1 (Net Income) 05:45 - Schedule 200 (T2 Corporation Income Tax Return) https://www.youtube.com/watch?v=jU4Td7652hs Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 87853 Allan Madan
How to Become an Independent Contractor and Not an Employee
 
04:10
Why should you be an independent contractor and not an employee? Independent contractors in Canada have many more tax write-offs available to them and a much lower income tax rate than employees. This video will show you how to modify your employment agreement so that you can be treated as an independent contractor for tax purposes. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of contents 00:27 - Independent Contractor vs. Employee Differences 00:46 - Contract/Agreement Factors 01:04 - Control Factor 01:34 - Tools and Equipment Factor 01:57 - Financial Risk Factor 02:31 - Opportunity for Profit Factor 02:56 - Most Important Factor Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 30155 Allan Madan
Best Ways to Own Canadian Real Estate Investments
 
10:41
Do you want to know the best ways to own your Canadian real estate investments? This video reveals the latest tax-saving tips and tricks to show you how. 0:35 – 1. Sole Proprietorship 2:32 – 2. General Partnership 4:43 – 3. Limited Partnership 8:14 – 4. Corporation Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 25729 Allan Madan
Tax Loopholes For Small Business Owners In Canada
 
05:17
This guide to tax loopholes for small business owners in Canada can help you save a lot in taxes. So, if you're looking for Canadian tax loopholes, here's your best bet. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:42 - Tax Deferral 01:25 - Charging Rent To Your Corporation 02:32 - Buying A Home Using Your Company's Money 03:22 - Make Major Purchases At The End Of The Year 03:52 - Keep The HST You Collected Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 17673 Allan Madan
Becoming a Non-Resident of Canada (Part 1)
 
03:31
This is part 1 of a 3-part series which explores non-residency in Canada. In this video, the potential impact of primary ties, secondary ties and form NR73 on your status are discussed. 0:25 – 1. How to Become a Non-Resident of Canada 1:25 – 2. Pros and Cons of Form NR73 Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 6904 Allan Madan
How to Reduce Taxes on the Sale of Canadian Real Estate
 
05:05
Ever wonder how to reduce your taxes on Canadian real estate sale? This video will show you how. If you own a rental property or real estate investment in Canada, and have sold or are thinking of selling, this video will provide useful tips on how you can save money along the way. 0:27 – 1. Capital Gains Treatment 1:44 – 2. Maximize Capital Improvements 2:47 – 3. Do Not Claim Capital Cost Allowance Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 6634 Allan Madan
Tax Returns for Rental Properties in Canada
 
03:59
If you own rental property in Canada, then you know that filing tax returns for income property in Canada can be a difficult and confusing process. In this video, I will outline 5 steps for preparing a tax return for your real estate investments. Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 7427 Allan Madan
How to Prepare a T5 Slip
 
04:36
Are you an owner of a corporation who receives or wants to receive dividends from your company? This video will explain step-by-step how to prepare a T5 slip. 0:35 – What is a T5 slip? 0:45 – Preparing a T5 Slip 0:54 – Step 1 1:12 – Step 2 1:26 – Step 3 1:38 – Step 4 2:09 – Step 5 2:37 – Step 6 3:11 – Step 7 3:50 – Step 8 Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharter... Instagram: https://www.instagram.com/madanaccoun... Google+: https://plus.google.com/1085518694535... Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 5265 Allan Madan
How to Report the Sale of a U.S. Rental Property
 
04:41
Are you planning to sell a rental property in the U.S.? This video will show you how to report the sale of a U.S. rental property on a U.S. Tax Return. 1:14 – 1. Complete Form 4797 1:44 – 2. Calculate the adjusted basis 3:09 – 3. Complete Schedule D 4:05 – 4. Report the capital gain Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharter... Instagram: https://www.instagram.com/madanaccoun... Google+: https://plus.google.com/1085518694535... Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Music: Perspectives by Incompetech Animation: Created with GoAnimate Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 5473 Allan Madan
Simple HST Return - Part Two
 
03:43
Simple HST Return. If you wish to learn how to prepare a simple HST return with the Quick Method, read this article. http://madanca.com/blog/simple-hst-return-part-2 Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) https://www.youtube.com/watch?v=VphpVvX1Fgw Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 10256 Allan Madan
Simple HST Return - Part One
 
04:17
If you want to find out how to get a fast HST return using the Quick Method of accounting for HST, go through this article and you'll know just what to do. http://madanca.com/blog/fast-hst-return-its-quick Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Follow us on Twitter - https://twitter.com/Madan_CA Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) https://www.youtube.com/watch?v=8NgnEltHkRA Timeline: 00:27 -- The quick method for accounting for HST remittance 00:53 -- What is the criteria for eligibility? 01:10 -- Who cannot use the Quick Method? 01:39 -- How do you elect to use this method 02:19 -- How does the Quick Method work? 02:40 -- How do you calculate the Quick Method of accounting? 03:47 -- Conclusion and relevant links Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 14892 Allan Madan
How to Prepare GIFI Tax Financial Statements for T2
 
08:08
This Do-it-yourself tutorial explains how to prepare the GIFI, or tax financial statements. Completing the GIFI is the first step in preparing a corporate tax return (T2). Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus- https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:37 - Prepare The Income Statement 01:49 - Prepare GIFI Schedule 125 03:22 - Prepare Balance Sheet 04:11 - Prepare GIFI Schedule 100 Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 11411 Allan Madan
Tax Tips for Sole Proprietors
 
02:51
Sole proprietors can utilize a wide range of tax savings techniques. You can claim many of the same expenses and deductions as corporations. Watch this video to find out more. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) https://www.youtube.com/watch?v=dG_TOExHRss Timeline: 00:45 -- Take advantage of non-capital losses 01:06 -- Pay wages to family members for income splitting 01:32 -- Claim relevant expenses to your business 02:02 -- Consider incorporating your business Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 15169 Allan Madan
How to Purchase a Primary Residence with a Corporation in Canada
 
04:21
Are you a business owner that would like to purchase a new home with your corporate savings. If yes, this video is meant for you. 1:01 – Step 1 1:20 – Step 2 1:37 – Step 3 2:03 – Step 4 2:21 – Step 5 2:51 – Step 6 Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharter... Instagram: https://www.instagram.com/madanaccoun... Google+: https://plus.google.com/1085518694535... Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 3442 Allan Madan
Part 1 - How to Prepare Business Taxes for Self Employed Individuals
 
04:27
Are you a self employed individual who would like to complete their tax independently? This video will provide a general overview of completing form T2125, the Statement of Business Activities. 0:54 – Step 1 2:04 – Step 2 2:22 – Step 3 2:44 – Step 4 3:12 – Step 5 3:30 – Step 6 Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharter... Instagram: https://www.instagram.com/madanaccoun... Google+: https://plus.google.com/1085518694535... Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 3926 Allan Madan
Tax Tips for Newcomers to Canada
 
05:15
If you are a newcomer to Canada then this video is for you! In this video I will highlight important tax information that newcomers to Canada need to know, as well as the available deductions and credits that can be claimed. 0:26 - Residency Status. 0:56 - Do You Have to File a Tax Return? 1:22 - How to Complete Your Tax Return. 2:02 - Benefits Newcomers Can Claim. 3:25 - What Deductions Can I Claim? Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 2396 Allan Madan
Legal ways to reduce business taxes in Canada
 
04:13
Reduce your business taxes now. There are many legal ways to reduce your company's tax bill in Canada without breaking the law. Watch this video to find out how. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus- https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:47 - Incorporate Your Small Business 01:18 - Add Lower Income Spouse As Shareholder 02:01 - Write Off Donations Made To Charities 02:18 - Promote Your Business 02:39 - Multiplying The Small Business Deduction Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 2723 Allan Madan
Is It Better to Lease or Buy a Car for a Business in Canada?
 
12:55
If you are a business owner or an employee who needs a car for work, you should know whether it's more tax efficient to buy or lease a car in Canada. There are several steps involved in answering the question, "Is it better to lease or buy a car for a business in Canada?" Watch this video to learn more. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of Contents 00:39 - Buying A Car - Step #1: Calculate Cost of Car + fees & HST 01:08 - Buying A Car - Step #2: Calculate Maximum Amount for CCA 02:00 - Buying A Car - Step #3: Calculate Total CCA 03:48 - Buying A Car - Step #4: Calculate Tax Savings 05:45 - Buying A Car - Step #5: Calculate After Tax Value of Car 07:10 - Leasing A Car - Step # 1: Calculate Total Cost of Lease Over Lease Term 08:17 - Leasing A Car - Step # 2: Calculate Tax Savings From Lease Payments 09:06 - Leasing A Car - Step # 3: Calculate After Tax Cost of Lease 09:33 - Head to Head Comparison: Buying vs. Leasing 10:43 - Take Into Account: Hidden Costs for Leasing 11:30 - Take Into Account: Pride of Ownership 11:40 - Take Into Account: Cash Flow 11:58 - Take Into Account: Interest Rate About the Author -- Allan Madan -- Accountant Mississauga, Oakville, Toronto Allan Madan is a Chartered Accountant in the Mississauga, Oakville and Toronto regions of Ontario, Canada. He provides tax planning, accounting and tax return preparation services for his clients. Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 18771 Allan Madan
How To Make Your Home Mortgage Tax Deductible in Canada
 
03:27
Did you know you could make your mortgage interest, tax deductible? In this video, I will reveal the secret formula to convert your mortgage interest into valuable tax deductions. 0:37 – Step 1 0:57 – Step 2 1:03 – Step 3 1:10– Step 4 1:23– Step 5 1:39– Example Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 3979 Allan Madan
How to Prepare Financial Statements
 
10:21
How to Prepare Financial Statements for Your Business or Corporation- A Practical Guide. For a transcript of this video, and to download the slides and spreadsheet, see http://madanca.com/blog/how-to-prepare-financial-statements/#more-2068 Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus- https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:39 -- Getting Organized 01:20 -- Prepare Expenses Spreadsheet 03:24 -- Special Accounts 05:30 -- Calculate Tax Depreciation 06:41 -- Income statement 07:44 -- Balance Sheet Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 63506 Allan Madan
Tax benefits of a holding company - Tax Tip Weekly
 
01:56
As a business owner, you may have heard of holding company before. However, you may still be unsure of what it really is or what having one can mean for your business. In this video, we will cover credit proofing and how it can help protect you and your valuable assets. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) 0:11 – What is a holding company used for? 0:30 – How do I creditor-proof my business? 0:43 – Can I use my holding company for income splitting? 0:44 – Tip Link back to this video: https://www.youtube.com/watch?v=CDVsORG5CGQ Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 12211 Allan Madan
5 Things Canadian Need To Know About Buying US Real Estate
 
04:41
This is a good time for Canadians to invest in US real estate and here are 5 things Canadians need to know about buying US real estate. http://madanca.com Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of Contents 00:43 -- Applying For Individual Tax Pair Identification Number 01:22 -- Withholding Tax 02:01 -- Net Rental Election 03:03 -- Information Return 1042S 03:27 -- Hire Cross Border Tax Accountant Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 4262 Allan Madan
How the Rich get Richer and Pay Less Taxes
 
03:18
Various tactics and techniques that help the rich get richer. Do you want to get rich quick? Watch the video to find out how. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus- https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:35 - Stock Options 01:12 - Golden Parachutes 01:50 - Capital Gains 02:27 - Equity Swaps Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 7923 Allan Madan
How Canadians Should Own U.S. Real Estate
 
06:27
Do you intend to invest in property within the US? Go through this guide about how Canadians should own US real estate and benefit. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus- https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:38 - Individually 01:47 - U.S. C Corporation 02:47 - Cross Border Trust 04:11 - U.S. Limited Liability Partnership For more information please see: http://madanca.com/blog/how-canadians-should-own-us-real-estate/?Itemid=107 Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 2408 Allan Madan
Non-Resident Tax on Rental Properties in Canada
 
06:28
If you wish to find out about non resident tax on rental properties in Canada you've certainly come to the right place. Spare a few moments to find out all you need to know. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:40 - How To Get A Tax Account Number 01:31 - Withholding Tax 02:15 - How To Pay Withholding Tax 02:44 - NR6 Form (Waiver) 03:58 - How To Get A NR4 Slip/Form 04:35 - Filing Annual Tax Return Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 3685 Allan Madan
Year End Tax Planning Tips for Business Owners (2018)
 
05:59
Are you ready for 2018? This video will reveal three tax planning tips for business owners to take advantage of before the new year. 0:33 – #1 Declare a Bonus 1:23 – #2 Maximize Dividends Paid to Family Members 2:38 – #3 Crystallize Accrued Gains & Profits Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharter... Instagram: https://www.instagram.com/madanaccoun... Google+: https://plus.google.com/1085518694535... Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 5843 Allan Madan
Why you should incorporate for real estate
 
03:49
I'm going to tell you the top five reasons why you should incorporate for real estate. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus- https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:38 - Limited Liability Protection 01:08 - Easy Succession And Estate Planning 01:45 - Flexibility In Partnerships 02:25 - Financing Is Easier 02:37 - Income Splitting Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 1801 Allan Madan
Canadian Taxes for Non Residents
 
03:14
This short video reveals Top 5 Myths relating to Canadian Taxes for non-residents. If you're a non-resident of Canada, then this video is for you. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus- https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 4164 Allan Madan
Salary vs Dividends 2014
 
04:34
Are you a small business owner who is not sure whether to pay yourself salary or dividends? We show you the major advantages and disadvantages of each strategy so you can decide for yourself. We also show you how to minimize corporate and business taxes, give you the right business and accounting advice and share secrets on how to beat the tax man. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus- https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) https://www.youtube.com/watch?v=TcoYuqPJm9g More information about salaries and Dividends: http://madanca.com/blog/should-i-pay-myself-salary-or-dividends-from-my-corporation-as-a-business-owner/ 20 free tax secrets: http://madanca.com/free-tax-secrets/20-free-tax-secrets 00:00 -- Introduction 00:59 -- Advantages of paying yourself a salary 01:35 -- Disadvantages of paying yourself a salary 02:25 -- Benefits of dividends 03:00 -- Advantages of paying yourself a dividend 03:17 -- Disadvantages of paying yourself a dividend Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 4837 Allan Madan
Canadians Working Abroad, Overseas, Outside Canada - Tax Implications
 
13:18
If you wish to find out about taxes for Canadians working overseas, you've come to the right place. Next, find out all you need to know about Canadians working abroad. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:43 -- Canadian Residency Status 02:34 -- What To Do When You Leave Canada 02:46 -- Departure Tax Return 03:10 -- Termination Of Residency 03:46 -- Inform CRA You Don't Want HST Or Benefits Anymore 04:15 -- Tell CRA About Your Assets 05:07 -- Pay Departure Tax 05:43 -- Speak With Financial Advisor 06:45 -- When You Have To File A Canadian Tax Return 07:18 -- Withholding Tax 09:10 -- Factual Resident Of Canada 09:36 -- Filing Obligations 10:55 -- Foreign Tax Credits 11:57 -- Overseas Employment Tax Credit Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 11632 Allan Madan
Why you should use Section 85 when incorporating your business - Tax Tip Weekly
 
03:20
Are you self-employed? If yes, you may want to think about eventually turning your business into a corporation. There are two strategic financial benefits gained by incorporating. 1) You pay less tax. The tax rate for corporations is much lower compared to sole proprietors. And 2) You will have limited liability, which means only your corporate assets are at risk, and not your personal assets such as your car or house. When it's time to turn your business into a corporation, make sure you use the Section 85 rollover for transferring your business assets to your new corporation. If you don't, you will end up paying a lot in taxes that could have been avoided. In this video, I explain further. 0:33 – 1st financial benefit of incorporating 1:11 –Transferring your business assets to a corporation 1:44 –This is where section 85 comes in 2:15 –Some rules to follow using this section 2:40 –So here's the tip! Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 2015 Allan Madan
Tax Implications of Changing Your Primary Residence into a Rental Property
 
02:51
Are you thinking of moving out of your home and turning it into a rental property? If you answered, watch this video to learn about the tax issues that you need to be aware of. Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 2426 Allan Madan
What's a minute book? and why does your corporation need one? - Tax Tip Weekly
 
03:24
Do you own a corporation and can't seem to grasp the concept of minute books? Why are they so important? Learn everything you need to know about minute books here! 0:10 - What is a minute book? 0:30 - Reason #1 0:57 - Reason #2 1:13 - Reason #3 1:32 - Horror Story 2:27 - The Tax Tip Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 3307 Allan Madan
How to Transfer Your Business to a Family Member in Canada
 
04:37
Do you plan on transferring your business to a loved one upon retirement? In this video, you will understand how to transfer your business by utilizing an Estate Freeze and learn about the proper steps on how to implement one in the future. 0:27 - 1. Mistakes You Can Make When Transferring a Business 2:04 - 2. Use an Estate Freeze 2:26 - 3. How to Implement an Estate Freeze 2:30 - 4. Step 1) Create a Family Trust 3:10 - 5. Step 2) Cancel your old shares for new preferred shares 3:36 - 6. Step 3) Issue common shares to Family Trust Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video. Music: Perspectives by Incompetech Animation: Created with GoAnimate
Views: 2873 Allan Madan
Converting A Sole Proprietorship to A Corporation
 
07:28
If you're looking for information about converting a sole proprietorship to a corporation you've come to the right place. Spare a few moments, and get educated. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of Contents 00:42 - Why Change Into A Corporation? 02:24 - How To Close Your Sole Proprietorship 03:05 - What Assets Are Transferred From Proprietorship To Corporation? 03:50 - Section 85 Rollover 05:21 - Mistakes To Avoid When Incorporating Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 14913 Allan Madan
Becoming a Non Resident of Canada Taxes
 
09:08
How do you become a non-resident of Canada? If you are leaving Canada to work or live abroad and you are currently a Canadian resident, then the taxman can and will take a big bite from your wallet upon your departure. There are 10 major tax implications that will directly affect you when you become a non resident of Canada, which are discussed in this video. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table of Contents Four Factors to not be Considered a Resident 00:49 -- Permanent Home 01:03 -- Location of Spouse and Children 01:15 -- Personal Possessions 01:32 -- Social Ties Ten Implications 01:57 -- Stop Receiving Children Tax Benefits 02:14 -- No More GST/HST Refund Cheques 02:31 -- Repay Owed Home Buyer's and Lifelong Learning Plans 03:01 -- Keep TSFA 03:13 -- RRSP 03:40 -- Banks and Financial Advisors 04:49 -- List All Properties Owned ($25,000+) 05:18 -- Selling Off Properties 06:40 -- Selling Canadian Home 07:55 -- File A Final Canadian Tax Return Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 7897 Allan Madan
Benefits of Incorporating in Canada - Accountants Mississauga
 
03:30
What are the benefits of incorporating in Canada? Maybe you are running a sole proprietorship, or partnership, and are wondering what the advantages are. In this video, I'll provide you with all the knowledge you need to make an informed decision. That way, you can decide if incorporation is right for you. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:22 -- Low Tax Rate 00:45 -- Limited Liability Protection 01:21 -- Paying Dividends To Shareholders 01:45 -- Income Splitting If you've found this information useful, Allan encourages you to visit his website: http://madanca.com for additional tax tips Also, get access to Allan's free report, "20 Free Tax Secrets on How to Beat the Tax Man", by visiting http://www.siteproweb.com/20-free-tax-secrets-from-allan-madan Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 5054 Allan Madan
How can I deduct my meals and entertainment expenses from business income - Tax Tip Weekly
 
02:21
Are you a business owner who has recently or is planning to entertain clients? I go through the activities and expenses that you may or may not deduct on your tax return. Entertaining clients are a good way to gain more business for your company, but it can get expensive. Follow my advice if you want to cut down on your spending and increase your profits! Follow me on Twitter: https://twitter.com/Madan_CA Like me on Facebook: https://www.facebook.com/MadanCharteredAccountant Add me on Google +: https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) https://www.youtube.com/watch?v=R4c0eJPxNHg Timeline: 00:21 -- Personal Expenses 00:40 -- Keep the contact information of the guests you entertained 01:00 -- Food that you buy while traveling 01:12 -- Christmas party deductions Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 3333 Allan Madan
How to Buy a Home with Corporation Canada
 
04:01
How to buy a home with a Corporation in Canada? If you are about to purchase a home and are self employed, then it is very important that you watch this video, because I am going to tell you how to buy a home with your company's money, tax-free. The strategy entails taking money from your corporation and giving it to you on a tax-free basis in order to help you acquire a house that you plan to live in. Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:37 - Overview of the Strategy 00:53 - Don't Pay Yourself 01:13 - Employee Home Purchase Loan 02:49 - New Construction Difficulties About the Author -- Allan Madan -- Accountant Mississauga Allan Madan is a Chartered Accountant and a Tax Expert in the Toronto, Mississauga and Oakville regions of Ontario, Canada. If you found this video useful, Allan Madan encourages you to visit his website http://madanca.com for additional tax tips and more information on this topic. Also, get access to Allan Madan's Free Report, "20 Tax Secrets on How to Beat the Tax Man," http://www.siteproweb.com/20-free-tax-secrets-from-allan-madan Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 11778 Allan Madan
Personal Taxation of Car Allowance in Canada
 
03:11
Do you use your car for work purposes? If you travel for work and are using your own car, your employer may grant you some form of car allowance. In this video, you will learn what type of car allowance you can receive, and how you can reduce taxes on that allowance. Visit our website for more information and tax-related advice: http://madanca.com Follow us on social media Twitter: https://twitter.com/Madan_CA Facebook: https://www.facebook.com/MadanCharteredAccountant/ Instagram: https://www.instagram.com/madanaccounting/ Google+: https://plus.google.com/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. All figures and dollar amounts are used for example purposes only. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 2236 Allan Madan
Small business deduction Canada
 
04:43
How does the small business deduction help business owners in Canada save taxes? I walk you through the benefits of incorporating your business. I also explain what the small business deduction is, the types of corporations qualify for the deduction, how much income is required to qualify for the deduction. Finally, I tell you how you can use the deduction to your advantage! Follow us on Twitter - https://twitter.com/Madan_CA Like us on Facebook - https://www.facebook.com/MadanCharteredAccountant Add us on Google Plus - https://plus.google.com/u/1/108551869453511666601/posts Download any of our free eBooks available on our website: http://madanca.com/free-tax-secrets/ (Including Tax Tips for Canadians, Personal Tax Planning Guide for Canadians: 2014 Edition and 20 Tax Secrets for Canadians) Table Of Contents 00:31 -- Why Incorporate 01:00 -- What Is The Small Business Deduction 01:23 -- What Types Of Corporations Qualify 02:10 -- What Types Of Income Qualify 02:55 -- Using The Deduction To Your Advantage Disclaimer: The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.
Views: 4673 Allan Madan