WHY You SHOULD START a BUSINESS in CANADA | Tax Benefits of Self-Employed | Canadian Business Guide

WHY SHOULD I START My OWN BUSINESS in CANADA? What are the BENEFITS of Business Income? How Can I SAVE TAXES Being Self-Employed? How Can I Build Wealth and Reach Financial Freedom? Should I Open a Corporation or a Sole-Proprietorship?
I will be breaking down WHY You SHOULD Start YOUR OWN Business in Canada! Whether you just want to run a Side-Business, be fully Self-Employed or even open a Corporation, I’ll go over all of the benefits of running a Canadian Business. I’ll be focusing on the Tax Benefits and Income advantages of running a business but I’ll also talk about the non-monetary aspects. I’ll show you that anyone can start a business but I will also point out some issues that all entrepreneurs should be aware of! This will be the first video in my Canadian Business Guide so stay tuned for more!
HOW to Start / Register a Business: 🇨🇦
• HOW to START a BUSINES...
CANADIAN TAX GUIDE: 🇨🇦
Watch my videos to learn the basics of Canadian Taxes and Tax-Sheltered Accounts like the TFSA, RRSP and RESP
• Canadian TAX Guide
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SKIP AHEAD ⏩
-Intro: 0:00
-ANYONE Can Start a Business: 0:23
-Regular Employment Income: 1:21
-Trading Time for Money: 1:51
-Ownership & Equity: 4:03
-Tax Efficiency: 5:37
-Business Expenses: 6:47
-Pre-Tax Income: 9:16
-Control Timing: 10:31
-Family Income Splitting: 11:37
-Incorporating: 12:48
-Issues & Warnings: 15:35
-Not Profitable? 17:00
-Conflict of Interest: 18:12
-SUMMARY: 19:10
WATCH NEXT ▶️
-How Taxes Work in Canada - • HOW TAXES WORK IN CANA...
-RRSP Explained Part 1 - • RRSP Explained Part 1 ...
-Canadian Tax Savings Tips - • CANADIAN Year End TAX ...
-4 Steps to Become Wealthy - • 4 Steps to Become Weal...
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#CanadianBusiness #EntrepreneurCanada #StartingBusiness #CanadianTaxes
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Пікірлер: 1 200

  • @CanadianTShirt
    @CanadianTShirt3 жыл бұрын

    Make sure you watch this video NEXT! 👇 kzread.info/dash/bejne/iaZ-rqN6qrW9c5c.html HOW to Start / Register a Business in Canada! 🇨🇦

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    And learn EVERYTHING you need about investing with my MILLENNIAL INVESTING GUIDE 👇 kzread.info/head/PLj8bU3AuW2qEVri8g-ErBL65ng98iAf5g

  • @opejegede3971

    @opejegede3971

    3 жыл бұрын

    @@CanadianTShirt I am a bit confused about how you used your business expenses(LOSS) to reduce your tax from your full-time job. Did you register as Sole or Incorporated? Can you explain more about that? It's also comforting seeing someone with a Techy background talking finance. I do sometimes feel I do no qualify to do that even though I believe myself to be knowledgeable about that at least more than an average Canadian.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    @@opejegede3971 There is a TON to talk about with business expenses which I will definitely be talking about in multiple videos in this business series. And yes, my KZread channel was started as a sole-proprietorship =)

  • @AtulSharma-vc2tg

    @AtulSharma-vc2tg

    3 жыл бұрын

    can you please make a video on business income tax filing and how to reduce corporate tax and claim exemptions to reduce overall tax liability...waiting desperately. Basically a video for folks who are incorporated (IT folks sepcifically) and how can do the business income tax filing on their own and how can they save corporate tax Trust me there is nothing on this topic on youtube and there are bunch of people who are waiting for a quality content and only you can do it.

  • @AtulSharma-vc2tg

    @AtulSharma-vc2tg

    3 жыл бұрын

    Also a general feedback...you speak very fasst...for someone like me who is not a native english speaker...I had to pause the video multiple times. So something you may want to consider...currentlh I have put it at -0.25x

  • @aloufin
    @aloufin3 жыл бұрын

    Finally the tutorial series we neeed! Theres is a massive lack of this type of content available on youtube for Canadians

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    I'm glad it was worth the wait! I'm excited to launch the rest of the series! =)

  • @danielagertrudes

    @danielagertrudes

    3 жыл бұрын

    @@CanadianTShirt Big Thanks Adrian. I will be tuned to be the first one to watch tomorrow !! So excited!! Thanks again for the valuable knowledge sharing.

  • @THEKINGJ10001

    @THEKINGJ10001

    3 жыл бұрын

    jamel bowens 10 seconds ago Thanks a lot Adrian i've learned so much from your video, i just incorporated last month so i'm really looking forward to your video on corporations, what expenses i can write off and how much of it, also do i need an accountant or is it something i can do for myself? i'm basically a one man business right now so i'm really not trying to spend a lot on an accounts but i also don't want to mess it up and end up in trouble.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    @@THEKINGJ10001 Thanks Jamel I really appreciate that and congratulations on incorporating your business! There is a TON to cover on business expenses and how to file business taxes. You can definitely do the bookkeeping for your corporation by yourself (that's what I do) but when it comes to filing corporate taxes, you really should do with with a corporate accountant... it can definitely be much more complicated than a sole-prop tax return and you want to protect yourself and your business =)

  • @sarahs.3094

    @sarahs.3094

    3 жыл бұрын

    Seconded. Was really looking forward videos on business and corporation. Thank Adrian! I was sole proprietor for two years and incorporated as of Jan 2021. So these content are very helpful for me.

  • @PatriceBoivin
    @PatriceBoivin3 жыл бұрын

    This should be taught in every math class from grade 9 - 12. Imagine, schools making math useful.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks Patrice! I really appreciate that and I agree 100% There's no excuse why they don't teach the basics of financial literacy in high school....

  • @shaneelvis1699

    @shaneelvis1699

    2 жыл бұрын

    Math is useful.

  • @mariodibernardo6438

    @mariodibernardo6438

    Жыл бұрын

    @@shaneelvis1699 math is essential

  • @gamedran

    @gamedran

    Жыл бұрын

    Schools were designed to groom factory workers.

  • @johnm.6349

    @johnm.6349

    4 ай бұрын

    The government wouldn't like that.

  • @ViisionPvP
    @ViisionPvP3 жыл бұрын

    Every single video this guy posted I learn something straight to the point no BS! SUBBED

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks buddy! That's what I try to do! I want to make my videos as concise as possible without wasting anyone's time =)

  • @5blacksky8

    @5blacksky8

    3 жыл бұрын

    I second this

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    @@5blacksky8 Thanks buddy! 😁

  • @xpliktv

    @xpliktv

    3 ай бұрын

    So true. I spent hours watching and learning

  • @m.minkov
    @m.minkov3 жыл бұрын

    I am a new grad that started working for a US start-up as a contractor. I've been looking for good resources on what it means to incorporate and you have really delivered. I'm not going to lie, this information is INVALUABLE (putting aside the rest of your channel which is a goldmine). You are straight-up changing my life and other viewers here too. Thank you for all the work you put out. :)

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Oh wow! Thank you Martin for those kind words! I really do appreciate that and I'm so happy to hear that my videos have provided you value and I hope they continue to do so! 😁

  • @MrAtaguas

    @MrAtaguas

    3 жыл бұрын

    are you in Canada and contracting in the US? I was planning on doing something like this do you need a work visa or something to work there?

  • @juhichoudhary4857

    @juhichoudhary4857

    3 жыл бұрын

    This Channel is really a gold mine! Thanks Adrian!!!

  • @_G____

    @_G____

    3 жыл бұрын

    @@MrAtaguas If the work is performed entirely in Canada, then no, you do not pay tax to IRS, but you do have to file tax to CRA. You will need to submit a W8BEN form to the US payor

  • @_G____

    @_G____

    3 жыл бұрын

    Curious of your decision here on whether to incorporate your business or let it run as a sole proprietorship. Did you find the most convenient way for the US company to pay you?

  • @alejandrobj1
    @alejandrobj13 жыл бұрын

    This is a much needed content that I have been looking for almost a year; tons to read but not that easy to digest. Really looking forward to see more videos of this Canadian Business Guide. Thank you Adrian for adding SO MUCH VALUE TO US! Keep it up!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Alejandro! I really appreciate that and I'm excited to continue my business series! There is so much to talk about! =)

  • @jctai100
    @jctai1003 жыл бұрын

    Thank you so much! I've known bits and pieces of this school of thought for years but the way you tied the whole picture together really hits it home for me to change the way I finance my goals.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    That's what I LOVE to hear! I really appreciate that! There is a TON of info to cover and I'm glad that I'm able to present it in an accessible and digestible way! 🙏

  • @jctai100

    @jctai100

    3 жыл бұрын

    @@CanadianTShirt Well, I'm definitely looking forward to the next videos in the series! I'm at a turning point in my life and this will be helpful. Keep up the good work.👍

  • @byronabel9943
    @byronabel9943 Жыл бұрын

    People spend their time watching movies and doing other things, this is what I like learning about.

  • @CanadianTShirt

    @CanadianTShirt

    Жыл бұрын

    I LOVE movies more than anyone but you gotta make sure you are growing and learning every single day! 😁

  • @kerrirodrigues7892
    @kerrirodrigues7892 Жыл бұрын

    Holy Moly!!! this channel is a gold mine!!!!! this is exactly what I was searching for ever since i landed in Canada two years back. Thank you, keep up the good work.

  • @syedhabiburrehman6107
    @syedhabiburrehman61073 жыл бұрын

    Love how after all these videos you always have stayed concise and to the point and everything is useful and with reasoning!!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Wow! Thanks Syed! That's what I try to do! 🙏

  • @AddictedToHappy
    @AddictedToHappy3 жыл бұрын

    This is SO helpful! I love the simple subtitles and your straight to the point way of delivering info. 👏

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you! I really appreciate that! It takes a LONG time to add the subtitles and the text overlays on the screen but I'm glad to see that it makes a difference and helps get the point across =)

  • @AddictedToHappy

    @AddictedToHappy

    3 жыл бұрын

    @@CanadianTShirt oh I know it does! Haha that was the first thing I noticed and applauded you for because I know how tedious it is. Greatly appreciated for visual people 🙏

  • @Mario55555
    @Mario555553 жыл бұрын

    Really looking forward to the rest of the business series. Especially interested in learning more about business structures and protecting yourself as a sole-proprietorship via insurance or other means! Keep the amazing content coming!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    You got it! I'm actually working on the next video on my Canadian business series so you won't have to wait too long! =)

  • @anthonymedwid1468
    @anthonymedwid14682 жыл бұрын

    Very informative ! Love how straight to the point you are without sparing details.

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    Thanks Anthony! That's what I try to do! I talk fast and cut out all the fluff. I HATE wasting anyone's time =)

  • @rosanikumar8289
    @rosanikumar82893 жыл бұрын

    I’m so thankful for finding this channel! Thank you sm for all this amazing content & all the work you put in! I always have a notebook ready when watching ur videos, I learned so much in the last few months ✨💖 P.S: I watch all ur ads even the super long ones!🤗

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Awww thank you Rosani! That's so kind of you to say and I'm so glad that you've been enjoying my videos! 🙏 I can't control what ads show up, that's all handled by Google but I hope at least they have been relevant! =)

  • @jessicaky9
    @jessicaky93 жыл бұрын

    Your channel has been so informative and helpful! Love the way you explain things and definitely looking forward the business series :) Thank you!!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Jessica! I'm so happy to hear that my videos have been helpful! And you got it! I can't wait for the rest of my business series! =)

  • @joeycorby9213
    @joeycorby9213 Жыл бұрын

    I'm 19 years old I can't thank you enough for giving me clear conscience information and explaining pros and cons in a non bias manner your the man!

  • @JustifiedSpender
    @JustifiedSpender3 жыл бұрын

    I discovered your channel a couple months ago and have learned so much but by far this is the video I have been waiting for! We (my husband and I) started a side business last year and had no idea what to do in teams or taxes etc. Really looking forward to the rest of the videos in this series.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    That's amazing!! Congratulations on taking that big step and starting a business! It's a ton of work but it will be totally worth it! I'm excited to continue this business series and I hope you continue to find value in these videos =)

  • @warrencorber3275
    @warrencorber32753 жыл бұрын

    Extremely helpful Ontario content. Thanks for posting. Non-compete clauses in Ontario are very rarely enforceable in court (too excessive and limits business). Usually a non-solicitation and non-disclosure clause are enforceable - just have to check your contract terms.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks Warren! Ya it will definitely depend on the terms in the agreement and the employer themselves. Just something to keep in mind! =)

  • @sofia_g23
    @sofia_g233 жыл бұрын

    I look forward to these business series. I was thinking of incorporating so this is so helpful!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks Sophie! There is a TON to talk about with incorporating and I will be making a WHOLE video about that so stay tuned! =)

  • @SlavikLiman

    @SlavikLiman

    2 жыл бұрын

    @@CanadianTShirt Could your videos be more frequent? I learned from you a lot! Thank you very much!!!

  • @razorexcabichi
    @razorexcabichi3 жыл бұрын

    Just when I was searching for motivation to start a side hustle, this video came out! I guess it is a sign!! LOVE LOVE THE VIDEOS! Precise, straight to the point! Well done :)

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you! I'm glad you found this video and my channel! 😁

  • @rebootedlifestyle4400
    @rebootedlifestyle44002 жыл бұрын

    Finally useful information, straight to the point and no BS. Subscribed!

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    Thank you! That's what I try to do! I HATE the idea of wasting anyone's time! 😁

  • @Tarapeutic
    @Tarapeutic3 жыл бұрын

    Thanks for your awesome content. Really great to have Canadian specific advice! I now run multiple Etsy stores, have a KZread channel, and this was my first year with bigger self employment income than 9-5 job income :) Keep up the great work, I hope you make more business specific videos!! BTW My mom even watches your channel now and invests, I told her about you and she has learned a lot!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    That's awesome buddy and congratulations! It's so freaking exciting when your business takes off and you feel like all of your hard work and sacrifices are finally starting to pay off! And thank you for referring my channel to your mom and stay tuned to my future business videos! =)

  • @Curtis.Carpenter
    @Curtis.Carpenter2 жыл бұрын

    im only 7minutes in and im already taking notes, thank you so much brother. the way you explain so clear and concise, its so good! im thrilled i found your page. this will help so much 🙏 Good vibes from Vancouver/BC 🇨🇦

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    It's my pleasure Curtis! I really appreciate those kind words! I already replied to your earlier comment, make sure you check out that link I sent you to watch the rest of my CANADIAN BUSINESS videos! =)

  • @arlinlorenz4944
    @arlinlorenz49443 жыл бұрын

    The simplicity and knowledge given by you is undervalued. Thank you for the time and effort into these videos. Watched all you videos and Look forward to the series

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Wow! Thank you Arlin! I really appreciate those kind words and I'm glad that you've found so much value in my videos! 🙏

  • @nragoobar
    @nragoobar3 жыл бұрын

    A breath of fresh air. The things that was never taught to me and I can now teach to my kids. Love it. Keep up the great work.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    That's what I LOVE to hear!!! Your kids will thank you big time one day! =)

  • @zhaobocui9045
    @zhaobocui90453 жыл бұрын

    Your KZread business is definitely getting huge. As an alumni and a software engineer, it’s crazy that I know next to nothing about all those stuff you are talking about. Appreciate all your videos, I have just gone through all of them. Learned soooooo much. Keep it up!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks buddy! Ya it's been an absolutely crazy journey so far with KZread! But I have to admit... I do miss writing code.... 😅

  • @mounthope2567
    @mounthope25673 жыл бұрын

    It’s almost like you were born to make this channel. Thank you so much for all of this valuable info!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    hahaha I wouldn't say I was born with it but I've had a very interesting career so far and from each job, I've picked up certain skills which definitely help me teach in front of a camera! But thank you for those kind words! 🙏

  • @Invested.Entrepreneur
    @Invested.Entrepreneur3 жыл бұрын

    This is absolutely bang on! You’ve honed an art of being able to break down information very clearly 👍

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks buddy! I really appreciate that and I'm glad that you find my videos easily digestible! =)

  • @ic3b3rgi23
    @ic3b3rgi233 жыл бұрын

    your channel is a GEM..😀l you’re/it’s underrated. need more ppl to discover your channel

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you! I really appreciate that and feel free to send it to your friends or family to help spread the word! 🙏

  • @ic3b3rgi23

    @ic3b3rgi23

    3 жыл бұрын

    @@CanadianTShirt absolutely 😀

  • @MinhLe-xz6qg
    @MinhLe-xz6qg3 жыл бұрын

    Tremendous video! It's the kind of stuff we should learn in high school, but don't (also true for all your content). Keep up the good stuff! Looking forward to the other videos in the series. Cheers!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Minh! I really appreciate those kind words and you're absolutely right! I always try to pick videos on things that I WISH I was taught in high school =)

  • @makan1568

    @makan1568

    2 жыл бұрын

    No my friend. In school they will teach you to use your emotions instead of logic and will show you 100 different genders to choose 😅🤣 They are not huge fan of free thinkers and independent people.

  • @suespina696
    @suespina6963 жыл бұрын

    Absolutely love your channel Adrian. Thank you sincerely for sharing your knowledge with us. The info you put out is total gold!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Sue! I really appreciate that and I'm really glad that you have found value in my video! =)

  • @ryankavehei5730
    @ryankavehei57303 жыл бұрын

    This is great. So much information in 20 minutes without wasting a second. Thanks for such a valuable and professional effort. This channel makes you finally use that notification bell :)

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Ryan! I really appreciate that and that's what I try to do! I like to talk fast and pack as much info as I can so that I don't waste anyone's time =)

  • @whidzee
    @whidzee3 жыл бұрын

    As someone who started a side business during this pandemic, I am looking forward to the next few videos :)

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks buddy! I'm excited to continue this business series! =)

  • @mohammedosman88
    @mohammedosman883 жыл бұрын

    Awesome stuff ... specifically tailored for us in Ontario :D Can't wait for more

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks buddy! I'm glad you found this video useful! =)

  • @shoebh.3389
    @shoebh.33893 жыл бұрын

    Valuable, useful, and practical. Not a single second of time wasted. Thank you!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Shoeb! That's what I try to do! I try to make my videos as concise as possible, I hate wasting people's time with fluff! =)

  • @AnthonyGertzos
    @AnthonyGertzos3 жыл бұрын

    I'm definitely going to rewatch this video again in the future. So much useful info for saving taxes on my video business!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks Anthony! That's what I love to hear! I'm excited to continue my business series! =)

  • @NikeshBernardshaw
    @NikeshBernardshaw3 жыл бұрын

    Love your videos. I'm also from the Waterloo region and in the tech field, I just incorporated a company through which I provide IT services on the side so this is an amazing time to learn more about it. Looking forward to the business series!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Congratulations Nikesh! I've lived and worked in the Waterloo tech sphere for many years so maybe we'll bump into each other one day! 😁

  • @controller4hire

    @controller4hire

    Жыл бұрын

    It's wonderful to know that you're also in the tech industry and have established a company. If you need any assistance with accounting and advisory services, feel free to contact us.

  • @xJustinxP
    @xJustinxP3 жыл бұрын

    This is brilliant I need to start brainstorming now

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    That's awesome Justin! That's what I LOVE to hear! =)

  • @drakezen
    @drakezen3 жыл бұрын

    Another great video, explaining concisely and in an entertaining way that keeps people engaged. Keep em coming!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you! I'm glad that you found my videos informative and engaging! =)

  • @elsastewart833
    @elsastewart8333 жыл бұрын

    Great video as always! Glad you started these new series on starting a business, very helpful for these times!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Elsa! I'm really excited to get through this business series! I'm glad you guys are finding it valuable! =)

  • @TerribleTonyShow
    @TerribleTonyShow3 жыл бұрын

    I'm very young, but this encourages me to think about actually opening a business.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks bud! I'm glad you're already thinking with an entrepreneurial mindset! 🔥 By the way, I love your profile pic! That vid is a classic! 😆

  • @Montreal_Canadiens
    @Montreal_Canadiens Жыл бұрын

    Man! Grateful for people like you! God bless you for providing passionate and informative videos.

  • @CanadianTShirt

    @CanadianTShirt

    Жыл бұрын

    It's my pleasure! I'm so happy to hear that my videos are helpful! 😁

  • @MinnieOnCam
    @MinnieOnCam Жыл бұрын

    Thanks for making these I find them to be very valuable to Canadian entrepreneurship

  • @YoutuberJeremy
    @YoutuberJeremy2 жыл бұрын

    amazing channel! thank you

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    Thanks buddy! I'm glad you are finding my videos helpful! =)

  • @YoutuberJeremy

    @YoutuberJeremy

    2 жыл бұрын

    @@CanadianTShirt keep it up! where do you run your business, ontario?

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    @@KZreadrJeremy Yup! Make sure you check out my HOW to Start a Business Video where I show you how to look up a Business Name and as an example I show you both my sole-prop and corporation registered in Ontario =) kzread.info/dash/bejne/iaZ-rqN6qrW9c5c.html

  • @66ben2
    @66ben23 жыл бұрын

    Adrian this was a really solid video; I am looking forward to the rest of this series! Would also love to learn more about real estate investments if you are ever in the mood to cover that realm :)

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    You read my mind! Being a landlord is one of my side-businesses so I will definitely be making a real estate series as well! =)

  • @gunjangulati
    @gunjangulati3 жыл бұрын

    This is gold. I look forward to other videos in this series. Thank you !

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Gunjan! I'm glad you found this helpful! I can't wait for the rest of the series! =)

  • @motoarzan791
    @motoarzan7913 жыл бұрын

    MY 9-5 IS ONLY a means to acquire money to deploy in my "real job"...which is investing and creating FREE money out of thin air via stock growth and dividends.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    That's PERFECT!!! You make some sacrifices in the short term to benefit for LIFE in the long term =)

  • @introvertedleaders3356
    @introvertedleaders33562 жыл бұрын

    Thanks for sharing all this useful information! I have a question regarding claiming expenses for tax deductions. Let's say in the past, you have been filing your taxes as self-employed, but you forgot to claim some of the expenses for business purposes. When you file taxes this year, can you still claim expenses that were used in the previous years? If so, how many years can you go back to claiming those expenses?

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    Generally the answer is no, expenses should be claimed on the year that they were incurred. But yes you can go back and amend previous tax returns if you made a mistake or missed something but this can sometimes raise a red flag with the CRA and you might be increasing your risk of an audit. Of course this depends on your particular situation so I would speak to your accountant to see your best course of action =)

  • @introvertedleaders3356

    @introvertedleaders3356

    2 жыл бұрын

    @@CanadianTShirt That makes sense. Thank you!

  • @CiaraLynn
    @CiaraLynn3 жыл бұрын

    You are awesome! You talk clearly and get straight to the facts!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Ciara! 🙏 That's what I try to do, I don't want to waste anyone's time =)

  • @JarekTan
    @JarekTan3 жыл бұрын

    You are a champ! Appreciate the clear explanations and look forward to the rest of the series!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks Jarek! I'm really glad this video was helpful and I can't wait for the rest of the series! =)

  • @EsslamMansour
    @EsslamMansour3 жыл бұрын

    I would like to know from where you bring this information. is it from reading a certain book. Thank you so much

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    I've learned all this over the course of YEARS! I've read dozens of books, pretty much read the entire Canadian Tax Code when I started my first business 7 years ago and even today I am STILL learning! Thee are so many great resources out there so never stop learning and never stop challenging yourself! Also, I included a link to some of my favourite tax and finance books that helped me in the description box below my video =)

  • @sluddu973
    @sluddu9733 жыл бұрын

    I was wondering how rental property would work in this scenario? What would be considered business expenses and would it better to open a corporation or sole-proprietorship for rental property?

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    I will be making a WHOLE SERIES of videos on Rental Properties and Real Estate in general! There is a ton to talk about! But basically any normal business expense would apply to a rental property but you also get to claim other expenses like the interest you pay on the mortgage, the home insurance of the property and certain capital and current expenses if you have to make repairs or renovations! =)

  • @emh903
    @emh9033 жыл бұрын

    Very well explained in a way that is not intimidating but rather informative. Thank you and keep on making awesome videos like this!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you for those kind words! That's what I try to do! I know how intimidating investing can be for beginners so I try to break it down and make it accessible! =)

  • @playvilletoys
    @playvilletoys Жыл бұрын

    I love how you explained everything! Very thorough and easy to understand!

  • @CanadianTShirt

    @CanadianTShirt

    Жыл бұрын

    Thank you for those kind words! I'm happy to hear that! 🙏

  • @66ben2
    @66ben23 жыл бұрын

    Instructions unclear, quit my job and sold my house to start a dvd rental business

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Sounds like a winning strategy! If we were in 1998... 😅

  • @iVince905
    @iVince9053 жыл бұрын

    So he's the rich dad Robert Kiyosaki was talking about

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    hahaha I wish I had a rich dad to teach me these things but his book was definitely eye opening for me early on in my career =)

  • @graceucat7418
    @graceucat74183 жыл бұрын

    Hi Adrian, to let you know again that all of your videos are truly so helpful. Sincerely, thanks so much!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Grace! I'm so happy to hear that my videos have been helpful! I'm recovering from a rough fever right now but I am working on a new video hopefully ready by this weekend! =)

  • @aliciarusu2838
    @aliciarusu28383 жыл бұрын

    I love how many great explanations there are and so quickly

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks Alicia! That's what I try to do! That's why I talk so fast! 😁

  • @claudebelanger8524
    @claudebelanger8524 Жыл бұрын

    Awesome video with great value to help all Canadians. I worked in It for 20 years, first as a computer and network technician where I provided support for several industries like travel agencies, the airline industry, several banks, CPIC, CPR, CNR, schools and retail and health services. I taught basic electricity and electronics, repaired computers and peripherals and servers. I was a programmer and a specialist in Novell. I became a specialist in databases and then worked for a school board as their database administrator. What I am getting at is your video has just made me realize I have a lot of knowledge and experience that I could choose to turn into more than one type of business I also was the executor for my mom's estate that left me to deal with several twists and turns I did not find written down in any booklets or in any Internet searches, some of them where the only people who could help me where my lawyer, estate specialist for financial institutions or just being able to think of the solution myself. I am seeing potential for a business as a resource specialist. So thank you so very much for this video. It helped me think of ways I can turn my knowledge into a small business, I am going to spread the word about your channel. My family and friends will gain a wealth of information in regards to putting their money to work to build wealth.

  • @davidtao6443
    @davidtao64432 жыл бұрын

    thanks a lot man love and watched every videos of your channel, love them ! Saved me tons of time and money!

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    I'm so happy to hear that! Thanks for watching! =)

  • @sarahs.3094
    @sarahs.30943 жыл бұрын

    Thank you so much for your valuable content. I never tend to comment on videos. Just wanted to echo the other 500 comments here that your content is really helping us. Your are also very sweet to reply on every single comment that is made. I made a comment on one of your earlier videos asking if you can do a video on corporation so I was so looking forward to this video. Keep up the great job. And can't wait for your future videos in the business series.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Sarah! I really appreciate those kind words and honestly, I LOVE answering questions from you guys! That is definitely my favourite part of this whole KZread gig! I'm really glad you found value in this video and stay tuned for my future videos on the benefits of incorporating and how to do it =)

  • @tt1t88
    @tt1t883 жыл бұрын

    Adrian, you are such a great teacher. You made complicated theory easy. Save us time and money. Thank you so much. Have refer your channel to my family and friends. Keep the goods coming. 👏 🎉

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks buddy! I really appreciate that and I'm glad that you find my videos so accessible! That's exactly what I try to do with these videos! I want to break down the barrier and making finance and investing digestible to everyone! =)

  • @mouhamadoulaminebasse9
    @mouhamadoulaminebasse9 Жыл бұрын

    Amazing content ! I've been watching it again and again and I know for sure that this will help me in the future. Thanks so much.

  • @CanadianTShirt

    @CanadianTShirt

    Жыл бұрын

    That's what I LOVE to hear! I'm glad this video was so helpful and best of luck on your future business venture! 😁

  • @tanhue1265
    @tanhue12652 жыл бұрын

    just wow! like this information is life changing! thank you!

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    It's my pleasure Tan! I'm so happy to hear that you found so much value in this video! =)

  • @lakshyaahuja3108
    @lakshyaahuja31083 жыл бұрын

    Your videos are worth the wait!!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Lakshya! I appreciate that and thank you for your patience! =)

  • @crscaballero
    @crscaballero3 жыл бұрын

    Definitely, this will be an awesome video series, I'll be waiting for the next, thank you!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Cristian! I'm excited to continue this series! =)

  • @Curtis.Carpenter
    @Curtis.Carpenter2 жыл бұрын

    Hey man, just found your channel. I'm very determined to start a business cleaning properties and doing landscaping. this is a huge help cant wait to watch more

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    It's my pleasure Curtis! I'm glad you found my channel and congratulations on your new business venture! I know personally how exciting but intimidating it can be to start a business so major kudos to you! Make sure you check out the rest of my CANADIAN BUSINESS videos here =) kzread.info/head/PLj8bU3AuW2qG-H_x1XPx9kCzRh4FIUzRz

  • @ranasawah9198
    @ranasawah91982 жыл бұрын

    I NEEDED SOMEONE LIKE U IN MY LIFE THANK GOD I FOUND YOU.! I literally understand

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    hahaha that's what I love to hear! And yes I am glad you found me! 😁

  • @lilianewess6842
    @lilianewess68423 жыл бұрын

    Thanks again Adrian...video on point, you can tell there is preparation before hand...just useful info, thanks!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Liliane! I'm really glad that you guys appreciate all the work and effort I put into these videos! That makes it all worthwhile! 🙏

  • @tiffanythompson7502
    @tiffanythompson75022 жыл бұрын

    Looking forward to the rest of this series! Amazing content!

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    Thank you Tiffany! I'm so happy that you have been enjoying my business series! There is SO MUCH to talk about! =)

  • @ovieainenehi2663
    @ovieainenehi26639 ай бұрын

    I must admit that this is one of the best videos I have come across. Thank you for this!

  • @CanadianTShirt

    @CanadianTShirt

    9 ай бұрын

    It's my pleasure! Make sure you watch the rest of my BUSINESS guide (videos with purple thumbnails) to learn more great tips! =) kzread.info/head/PLj8bU3AuW2qG-H_x1XPx9kCzRh4FIUzRz

  • @talpix.gaming_
    @talpix.gaming_2 жыл бұрын

    i swear i learn more on this channel than iin school . such valuable information subbed

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    You got it buddy! That's why I made this channel in the first place! There's no excuse why these things should not be taught in high school...

  • @MATTYANDSMOKE
    @MATTYANDSMOKE2 жыл бұрын

    I've never seen anyone show the graph comparison of job tax vs small business tax before. The pic registers with more people. A picture is worth 1000 words. Well done. New subscriber.

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    I'm happy that my graphics were able to illustrate that message! Thanks for watching and welcome to the channel! 😁

  • @hussainawardhawala7348
    @hussainawardhawala7348 Жыл бұрын

    Your content is way way way underrated for the value it provides!

  • @CanadianTShirt

    @CanadianTShirt

    Жыл бұрын

    Thank you Hussaina! I really appreciate that and I'm so happy to hear that you're finding value in my videos! =)

  • @Creamy_Goodness
    @Creamy_Goodness3 жыл бұрын

    Such a useful video! No fluff, all useful information!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you for those kind words, as always! I'm glad you found it valuable! 😁

  • @ananyapandey2845
    @ananyapandey28453 жыл бұрын

    Awesome stuff, been waiting for this video, thanks a ton... Can't wait for more to come

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Ananya! I'm glad this video provided value! I'm excited for the rest of the business series! =)

  • @katrinacopeland217
    @katrinacopeland2173 жыл бұрын

    Great video! It really helped to view it from another perspective and reveal other additional benefits that I hadn’t thought about.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thank you Katrina! I'm glad this video helped you to start thinking about the entrepreneurial life! 😁

  • @likeasambud9817
    @likeasambud98173 жыл бұрын

    BEST youtube channel by far. Thank you man.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Wow! Thank you buddy! I really appreciate that and I'm glad that you have found value in my videos 🙏

  • @ToroAccounting
    @ToroAccounting Жыл бұрын

    Great content! I'm a longtime fan, specially the fact that he has one of the og Starcraft games in his shelf.

  • @CanadianTShirt

    @CanadianTShirt

    Жыл бұрын

    Thanks buddy! I appreciate the support over the years! And you got it! Back in the 90s and 2000s when Blizzard made nonstop masterpieces: Starcraft, Warcraft and Diablo.... Check out my BOOKSHELF TOUR video where I go over all of my classic video games in my collection! =) kzread.info/dash/bejne/mpt32sSdk7W4odo.html

  • @zachgarcia5836
    @zachgarcia58363 жыл бұрын

    Thanks so much for these videos you are helping so many young ppl. Keep them coming!!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks Zach! I'm happy to hear this video provided value! 😁

  • @calvinng2597
    @calvinng25973 жыл бұрын

    Excited for more videos in this series

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    You got it Calvin! I can't wait! =)

  • @kristenlee18
    @kristenlee182 жыл бұрын

    Wow... I wish I found this sooner! Looking forward to more business series videos!!!

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    Thank you Kristen! Make sure you check out my latest video on HOW to Start a Business in Canada! =) kzread.info/dash/bejne/iaZ-rqN6qrW9c5c.html

  • @jaysandhu1890
    @jaysandhu18902 жыл бұрын

    This is such an incredibly useful videl. Thank you!

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    Thank you Jay! I'm so happy to hear that and I'm glad I was able to provide value! =)

  • @Spectaculese
    @Spectaculese3 жыл бұрын

    Really looking forward to your guide on Starting a Canadian Business, thank you!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    You got it buddy! I am working on a new business video right after my next video so keep an eye out for it! =)

  • @dricalins1104
    @dricalins1104 Жыл бұрын

    You are doing a great service to math dummies like myself, thank you!

  • @CanadianTShirt

    @CanadianTShirt

    Жыл бұрын

    hahaha that's what I do! I'm a nerd who actually likes numbers. So I do the math so you don't have to! 😉

  • @tyrealest
    @tyrealest3 жыл бұрын

    Can't wait for the series! First bell icon I've clicked on in years 😅

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Wow! Thanks buddy! I am truly honoured! 🙏

  • @monnyabraham3027
    @monnyabraham3027 Жыл бұрын

    Great insight so clearly delivered! Thank you

  • @sourabhparulekar2827
    @sourabhparulekar28273 жыл бұрын

    Great Stuff! Looking forward to rest of the videos in this Business Series!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    You got it buddy! I'm excited for the rest of the series! There is a TON to talk about! =)

  • @SrikarAnanthula
    @SrikarAnanthula2 жыл бұрын

    lovely , thanks for much for all the information !!!

  • @CanadianTShirt

    @CanadianTShirt

    2 жыл бұрын

    It's my pleasure Srikar! I'm glad you found it helpful! =)

  • @DarkAngel-cj6sx
    @DarkAngel-cj6sx3 жыл бұрын

    So inspired, I am fired up. Waiting for your next.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Yeah buddy! That's what I LOVE to hear!!! 🔥

  • @maight7333
    @maight73333 жыл бұрын

    Can't wait for this series as I'm in the boat of "cool, I have an ltd. now, this makes things a bit more complicated..." Liked, subscribed and notifications on. Thanks for this!

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    haha way to go buddy! That's super exciting and you're right... it will definitely get more complicated but it will be so worth it! =)

  • @abywasg6813
    @abywasg68133 жыл бұрын

    Hey, Adrian, it's a nice and useful video as usual. The right mindset is a key to start your own business. A side hustle is a must. We should be consistent in our duty. as it is a business, there is no monthly income but after a year or two of hard work, we will get the results.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    You got it! The mindset is the MOST important thing and it's the same mentality you should have with investing! Do NOT expect to see results and get rich quick... it will NOT happen! Instead you have to make some sacrifices now in the short term to enjoy huge benefits in the long term! =)

  • @everythingfromatoy
    @everythingfromatoy3 жыл бұрын

    Wow, great info! Going to share this video with my family as we’ve started about 5 businesses since the pandemic and we had so many questions about taxes now. 💋

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Wow! That's amazing! It's awesome that you've used this opportunity to be so productive! =)

  • @ninikant
    @ninikant3 жыл бұрын

    This is a life saving video!!! Looking forward to more

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Thanks Min! I'm so glad that you found value in this video! =)

  • @magodeoz1989
    @magodeoz19893 жыл бұрын

    Will stay tuned for the business series! Thanks a lot

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Beauty! Thanks Luis! I'm excited to continue this series! =)

  • @Dniem
    @Dniem3 жыл бұрын

    That's amazing, please continue this series. I am looking forward to start my own business.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    You got it Benoit! I'm glad you found this first video helpful! =)

  • @yvonnesanita7230
    @yvonnesanita72303 жыл бұрын

    You are amazing. Love your channel. See that guys...it is totally worth the wait.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Wow! Thank you Yvonne! I really appreciate that! 😁

  • @nagzi20
    @nagzi203 жыл бұрын

    I'm really looking forward to this series Adrian. I have a couple of ideas that I've thinking about for a business that I would like to try in the next year. Keep up with all the great work.

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    That's perfect John! It's definitely a big decision when you finally decide to start a side-business but it's also super exciting! =)

  • @szoloui8907
    @szoloui8907 Жыл бұрын

    you're amazing thank you for existing!

  • @CanadianTShirt

    @CanadianTShirt

    Жыл бұрын

    Wow! Thank you Szoloui! That is certainly high praise! Thank you for watching and supporting my channel! 🙏

  • @mariavalentinasalazarguerr8442
    @mariavalentinasalazarguerr84423 жыл бұрын

    THANK YOU SOSOSOSOSOSOSOSO MUCH!!!!! For this!!!! Waiting for moreee ☺️☺️☺️☺️☺️

  • @CanadianTShirt

    @CanadianTShirt

    3 жыл бұрын

    Wow! Thanks Maria! I'm so glad you found this video helpful! I'm currently working on another video in this Business series so stay tuned for that! =)

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