ACCOUNTANT EXPLAINS: Avoid These Top 3 Money Mistakes Business Owners Make

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Discover financial success on your terms with Path2Profits, your personalized journey to mastering business finance. 🚀 Explore topics like Incorporation, Stress-Free Bookkeeping, and Tax Smart Savings at your own pace. Get started today:
💰Is Incorporation Right For You?
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💰Tax Smart Savings
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00:00 Intro
01:05 Money Mistake #1 Incorporating at the Wrong Time
02:33 Money Mistake #2 Playing Catch-Up with Your Finances
04:04 Money Mistake #3 Overpaying the Taxman
Disclaimer: Note this video is not financial nor accounting/tax advice and should be used for entertainment purposes only. Consult with your own financial advisor, accountant and/or tax advisor for advice related to your specific situation.
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WHO AM I:
Gabrielle is a CPA and Tax Expert, as well as the founder of Balance + Wealth CPA, a licensed CPA firm that specializes in Tax. Prior to starting her business, Gabrielle worked as a Tax Manager at one of the Big 4 Accounting Firms for 7+ years, advising Fortune 500 companies. Gabrielle posts weekly videos on personal finance, business finance, and tax tips.
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[@GabrielleTalksMoney]

Are you a 6 Figure Consultant, Coach or Content Creator in Canada needing to take action TODAY to save taxes, increase profits, and build wealth? We are finally accepting new clients - contact us at: www.balanceandwealth.com/contact-us

[@broncsyanks]

Ty love your way of passing on info. Learn a lot

[@EM3Finance]

Taxes do be like that

[@kamkamrouz154]

Thanks for the great advice Gabrielle, where you're warning about not rushing to incorporate a business with a lot of expenses and in loss, but by maintaining a self-employed status can I still make use of income/expense splitting with my wife while I'm assuming that it can be done easily with a corporation.

[@mintyking3606]

I think I’d rather be safe with the legal protection and incorporate early with the business I have.

[@robertdove807]

what can an 80 year old with RRIFs and still working do to save tax dollars ?Can't contribute any longer ?