I would pay for this knowledge so the fact you are giving it for free is a blessing, thank you to your team and all your hard work.
@NorthAmerican-Trucking-News2 жыл бұрын
Thank you for watching and sharing!
@dasimparmy22892 жыл бұрын
I just wanted to say how much I appreciate all of these video's. I'm will be getting into the trucking business in the US and I'm learning so much from these video's. Keep them coming the knowledge your passing on is incalculable to me. Thank you Roman and ET Transport.
@NorthAmerican-Trucking-News2 жыл бұрын
Glad to help. Best of luck!
@tomdurkin38012 жыл бұрын
That info about a support dog is facinating. It reminds me of a funny family story from the 70s
@danieldehay51982 жыл бұрын
Damn you Ronan! You don’t have a tax guy for us in the US?! 😂😂😂😂😂😂love the videos. This was a very very helpful video…..keep ‘em coming
@NorthAmerican-Trucking-News2 жыл бұрын
One day! :) Thanks for watching!
@jimallen14852 жыл бұрын
Thank you Ronan... I have owned several companies over the years with all of them being small. You are bringing up the things that many people never realize until it is too late. Having your own corporation doesn't only shield you from taxes but also from certain liabilities. The blessings and the curses of self employment... 🙂
@NorthAmerican-Trucking-News2 жыл бұрын
Thank u for the feedback
@johncampian62432 жыл бұрын
Thank you Ronen, Enjoy your vacation, get fully recovered!
@NorthAmerican-Trucking-News2 жыл бұрын
Thank you kindly
@evguenimertodjan97832 жыл бұрын
I can't believe that there are still people in trucking industry who really cares and helps new truck driver and owner operator with all this info. Many thanks to your channel and fellow drivers. 🙏
@NorthAmerican-Trucking-News2 жыл бұрын
Appreciate the feedback :) Thank u
@subconsciouslyinyahead79772 жыл бұрын
Name another channel like this. I’ll wait
@heinrichhildebrandt30512 жыл бұрын
I’m trying to get my first Truck now and this is really good advice for me, thank you very much, for all the knowledge you’re sharing, I have watched a lot of your videos and I love them
@NorthAmerican-Trucking-News2 жыл бұрын
Glad to help. Best of luck! Thank you for watching!
@jessylahaise92332 жыл бұрын
wow this was better than any economy class i had in high school
@NorthAmerican-Trucking-News2 жыл бұрын
Lol, thank u
@youtubesurfer10222 жыл бұрын
Seriously this is my favorite trucking channel hands down. Best business management and general trucking information channel by far. Thank u guys at ET Transport
@NorthAmerican-Trucking-News2 жыл бұрын
NP Make sure to watch tomorrows Video on wealth management
@zackg64442 жыл бұрын
Thank you so much for all the videos you make for all of us 👌 I am working on becoming owner operator and I am learning and researching everything and more then once or twice I ended up watching your videos and I am very thankful personally 🙏
@emmanuelgyan68833 ай бұрын
Wao.... I'm learning a lot, thanks Ronan
@NorthAmerican-Trucking-News3 ай бұрын
Glad to hear that
@christophergaudreau92652 жыл бұрын
Ronan . . . you really are for the "working man" . . . WE APPRECIATE YOU !
@NorthAmerican-Trucking-News2 жыл бұрын
Glad u enjoy the videos
@Eddie-Van-Hammerlane2 жыл бұрын
Solid info…but if you purchase assets with your company (property, equities, etc), and you get sued, then all assets are exposed. Maybe you should produce a video on asset protection??
@codegame0272 жыл бұрын
IMO, the biggest single reason to incorporate is the exposure to personal liability. Also, here in the USA we have what's called a "ROTH IRA" which you pay income tax on when you load it but it is tax exempt when you withdraw from it. But there is an annual limit of money you can deposit in it as well as limit on IF you can put money in it based on a Max annual income threshold. This is easily one of the best tools to building a retirement account the younger you can start building this nest egg.
@subconsciouslyinyahead79772 жыл бұрын
Great tip
@brewdawg12 жыл бұрын
WOW!!! Thanks. I'm new and you always bring some great tips to me.
@jerrywipf90772 жыл бұрын
Like these videos currently working on becoming an o/o
@NorthAmerican-Trucking-News2 жыл бұрын
Glad to hear it!
@Redbloodroadrunner2 жыл бұрын
These videos are priceless, I'm a company driver looking to go O\O and the information in these have completely changed what I thought I knew
@NorthAmerican-Trucking-News2 жыл бұрын
Glad it’s helping Thank u for the positive feedback (Ronen)
@TimTom712.2 жыл бұрын
Thanks a million
@NorthAmerican-Trucking-News2 жыл бұрын
NP
@HighwayHoney6 ай бұрын
My head is numb. I’m so confused on paying yourself and keeping money in the corporation.
@kennethlatony80652 жыл бұрын
I been a company driver for 7yrs and I'm looking forward to become a contractor for FedEx or an owner Op, your information is valuable, Thanks for all this videos
@juanmatos49392 жыл бұрын
Thanks you, great information!
@NorthAmerican-Trucking-News2 жыл бұрын
NP
@atamjeetsinghcheema96322 жыл бұрын
Ultimate stuff , I m coming to Canada, I ll surely cm n meet u.
@Sirkofski2 жыл бұрын
Truck driving is a great job in Canada
@bernymikericcardirobert31512 жыл бұрын
Thank you so much for this video this tax subject is the video of the year
@NorthAmerican-Trucking-News2 жыл бұрын
I am Glad u enjoyed it Thanks for the positive feedback
@j.alexandersilva97382 жыл бұрын
Too much good information and vibe ., I'm just have my corporation running 2 moth and about to buy a truck in the US 🇺🇸 ., thanks for the info 👍
@NorthAmerican-Trucking-News2 жыл бұрын
NP
@mrgarrettscott2 жыл бұрын
I'm going to start my ET Transport personal playlist for quick reference. Plenty of food for thought.
@NorthAmerican-Trucking-News2 жыл бұрын
appreciate the positive feedback.
@joesavali46712 жыл бұрын
Much appreciated for the lessons and videos Ronan, bless your heart🙏👍
@NorthAmerican-Trucking-News2 жыл бұрын
Glad you like them, appreciate the positive feedback
@andrewbarnett46212 жыл бұрын
Thank you Sir. Ronen was Very educational learnt alot from this channel.
@NorthAmerican-Trucking-News2 жыл бұрын
Glad to hear it
@ChristisKingOverMyLife2 жыл бұрын
Thanks Ronen, This is Golden!! Congratulations on 40k subs.
@NorthAmerican-Trucking-News2 жыл бұрын
Thank u
@pepsonautotransport13222 жыл бұрын
Absolutely my friend I guess I did something right lol. I been second guessing how I did everything and you definitely put me at ease that I'm doing it right ✅
@NorthAmerican-Trucking-News2 жыл бұрын
Great job! Thanks for watching.
@tonymossakowski40502 жыл бұрын
Thanks Ronan!
@NorthAmerican-Trucking-News2 жыл бұрын
Thank you Tony!
@shanechris1002 жыл бұрын
Lol 😂 love it ❤️
@thetruckerslearningchannel32112 жыл бұрын
Excellent video 👍 So many drivers try to take as much as they can get every month. When they only needed $2k. It's imperative that money stats with the business, as long as possible.
@NorthAmerican-Trucking-News2 жыл бұрын
Totally agree
@BullettComment2 жыл бұрын
Hello thank you for this video a very touchy subject that no one talks about because its like a taboo, again thanks for the knowledge and I hope we can all learn from your videos like myself ,now I already bought my 2nd truck thanks to the experience of and KZfaq and I think Im ready for the next step. I hope you guys are doing alright out there.
@NorthAmerican-Trucking-News2 жыл бұрын
Hi Thank u Appreciate the positive feedback
@Nich_PavelowАй бұрын
We need a U.S. only channel man! Lol
@NorthAmerican-Trucking-NewsАй бұрын
There probably is haha
@HighwayHoney6 ай бұрын
I need a trucking tax person in the US!!! 😊
@HighwayHoney6 ай бұрын
👋 Can you do an update on this?
@pepsonautotransport13222 жыл бұрын
Have a vehicle at home that you use for picking up parts and as part of your business might consider putting it under the business
@NorthAmerican-Trucking-News2 жыл бұрын
Thanks for sharing. Good point.
@mohammadahmed28732 жыл бұрын
Thanks Ronan
@NorthAmerican-Trucking-News2 жыл бұрын
NP
@frankywebon2 жыл бұрын
Great content Ronen! Still looking forward to your happy dance!
@NorthAmerican-Trucking-News2 жыл бұрын
Lol
@neteaadrian16542 жыл бұрын
Thank you for your good advice.
@NorthAmerican-Trucking-News2 жыл бұрын
My pleasure!
@gambit21292 жыл бұрын
Thank you thank you thank you thank you thank your thank you!!
@NorthAmerican-Trucking-News2 жыл бұрын
U welcome :)
@lionthesevensimba2 жыл бұрын
Thank you Ronen
@NorthAmerican-Trucking-News2 жыл бұрын
NP
@lalalalo372 жыл бұрын
Great video
@NorthAmerican-Trucking-News2 жыл бұрын
Glad you enjoyed it
@BobbyBhattacharjee2 жыл бұрын
Hi loved your video can you share the accountants info thanks Bobby
@LeifInTransit2 жыл бұрын
Hey that green screen, pretty top notch KZfaq channel now
@NorthAmerican-Trucking-News2 жыл бұрын
Lol Thank u
@albertvasquez62072 жыл бұрын
Hey that’s my back yard!
@markgregoryrugman71362 жыл бұрын
So what corporation would I choose?
@natepisme2 жыл бұрын
You should start with a single member LLC. If you end up making a good amount of money your first year you can have your accountant switch that over to an S-corp prior to filing your year one taxes.
@sirjosefofhessen45272 жыл бұрын
Atbs for the USA
@TheJoyofTrucking2 жыл бұрын
Excellent insights! Question: The example you used….When you pay your wife, she’s taxed income tax. So why pay her and not just pay yourself?
@NorthAmerican-Trucking-News2 жыл бұрын
Because if u pay yourself 60 And her 20 she will be taxed at a much lower tax bracket If u pay yourself 80 and her 0, u will be taxed more
@TheJoyofTrucking2 жыл бұрын
@@NorthAmerican-Trucking-News Oh. I see. Thanks for explaining. That makes sense. Unless she is making better money than the driver at another job. Then that additional 20K might push her into a much higher tax bracket ;-))))
@lynnheinlen5292 жыл бұрын
Have you looked at the different MPG's between van & Conestogas.
@lordgodamenra80752 жыл бұрын
Wow this was an awesome video! I currently drive for Fedex and I’m planning on starting my truck company at the end of the year. I am thinking about getting a walk away lease. Needless to say I don’t know how to get started. Sure would like some help!
@NorthAmerican-Trucking-News2 жыл бұрын
Thank you for watching. We often talk about owner ops and lease operators. Check out some of our other videos to get an idea.
@MF-dl3rs Жыл бұрын
Ronen, i didn't see the tax company you were showing of listed. What is their name?
@RiCkANVloGs2 жыл бұрын
I know you have did a video about new driver’s. Can you share us in comments how get a job for new drivers who just got license? As everyone is asking for experience
@NorthAmerican-Trucking-News2 жыл бұрын
Comming up next week, thanks for the comment, it inspired me to do the video.
@kointrucka26262 жыл бұрын
Great content.....much appreciated! what tax firm do you recommend? thanks
@richforeverguapo88902 жыл бұрын
Where’s the tax firm info ?
@egor_81942 жыл бұрын
Hi Ronen, could you please share name of TAX company one more time, unfortunately I can't find that one. Thanks
@UnknownBird2 жыл бұрын
And why can’t you do all that with LLC??
@77petesgarage2 жыл бұрын
Good stuff
@NorthAmerican-Trucking-News2 жыл бұрын
Appreciate it
@fireandice18602 жыл бұрын
How do you put money into your corp? Do you get a business account under the corp name? My company wont let me open an Llc without a business account, so what comes first? The llc or the business account?
@Pursuit_Of_Speed2 жыл бұрын
First I’d like to say thanks for making this video. I believe taxes is one of the biggest fears of truckers looking to become O/O. Would these personal expenses (food, dog stuff) be paid for through the corporate account or through the personal account?
@NorthAmerican-Trucking-News2 жыл бұрын
for the food i would pay personal and put a portion of the receipt on the Corp, the do food is trickey, i would ask the accountant
@Truckingwithnickandremy2 жыл бұрын
So having a Llc is the a cooperation or no
@KP-052 жыл бұрын
What's the accounting company name?
@bobmartin77172 жыл бұрын
Is that company only available in Ontario or can I access them from New Brunswick?
@Austintwo32 жыл бұрын
ehh if you dont make enough for the tax breaks than its pointless to be an S Corp. if thas what he means
@ManifestDestiny5592 жыл бұрын
If I lease a truck, open an LLC and do payroll on myself, do I qualify for perdiem on personal? Or do I do perdiem pay thru company?
@denissyrovatchenko9417 Жыл бұрын
Are you able to pay yourself for doing the accounting
@Daniealddoxford2 жыл бұрын
Do you have any Advice how to starting up a corporation or LLC
@NorthAmerican-Trucking-News2 жыл бұрын
Watch the video tomorrow that will be released
@MrLewis69652 жыл бұрын
I wonder if I purchased a truck through my personal account..could I get the loan restructure the through my s-corp?
@semiretired60332 жыл бұрын
Valuable information Thank you. Ronin I drove trucks 15 years full time, and since 2007 been doing it part time few times a month. In about two years I will be retiring from my full time Montreal City Transit Employee job and I want to get back into trucking on a more regular basis but I will be drawing a decent size pension check and I'm wondering what would be my best option to avoid getting raped by the tax man?
@airdog44422 жыл бұрын
Hey there my friend. I'm in exactly the same boat. Do you have a company lined up to pull for? Is ET an option for you or do you plan on driving in "semi" retired mode?
@semiretired60332 жыл бұрын
@@airdog4442 @Air Dog Exactly that! SEMIretired just as my profile name suggests. I am presently working part time for carrier based outside of Montreal running Montreal-Toronto when they are stuck on weekends. May want to work for them or someone else but no full time! One week on one week off kind of gig, and no winter trucking. We'll see when we get there. You looking to retire soon also? Where are you working at now?
@airdog44422 жыл бұрын
I'm kinda doing the same thing. I'm a pilot for the federal government working 8 days on and 6 days off so on my off time I drive part time for a local company doing deck work, low boy and float work. Not really my cup of tea though as you're generally dirty when doing equipment hauling. Flat deck not so bad but even that's a young man's game because it's mostly steel and pipe. I have about a year and a half to go and then I'm retiring. My plan is to buy a truck (with no or very low payments) and just do loads that suit me working about half time. I'm presently in Manitoba but will retire in new Brunswick, although I was actually born in lachine!! Haha Not sure if a canadian owner operator can do spot market work and cash in like the Americans are doing or not.
@semiretired60332 жыл бұрын
@@airdog4442 Wow a pilot!!! Hard act to follow, trucking is quite different. Not sure about owning a truck. It's something I too think about very often, but I don't want to do it full time anymore and I don't want to do winters especially either. Would make no sense to invest into it. And as far as Canadian spot markets I'm not sure how well they pay. I do watch alot of truckers on You Tube who are doing exactly that, like Big Rig Raidio Network, Big Rig CEO just to name a few. But they are all American channels talking about their rates, insurance, taxation related info. I haven't ever found a Canadian version so as to be able to compare. I'll be able to retire the in next 2 years I'll be turning 60. I also work with my Nephew doing carpentry work for him now also and he does keep me quit busy doing that and pays me very nicely also. So yeah, I'll be quite busy when I retire between trucking part time and carpentry work. So you're from Lachine ,living in Manitoba, and planning to retire in N.B. Quite the busy life you've got there .
@airdog44422 жыл бұрын
I think we're in the same boat. I'm 58 and will officially retire at age 60 but I have several months of vacation accrued that I can take before retirement . I also have the option to retire and then come back as a reservist and basically continue what I'm doing now. BUT, I miss trucking and think I want to subsidize my retirement with fun. No payments, just fun on my own terms
@aamerawan77902 жыл бұрын
Is money is safe with corporation ?
@mountaindew80422 жыл бұрын
👂👀 👍
@JKVTrucking0072 жыл бұрын
How can you have corp when you are Owner Op and working for a mega carrier? You just open your corp and contract with them or how that works ?
@JKVTrucking0072 жыл бұрын
@oramlll Thanks, and only thing I am gonna need from them is the authority correct ?
@JKVTrucking0072 жыл бұрын
@oramlll Thank you that you took time and explained ; I am new and still going through the orientation process and I am not there yet. However, my goal is to own a few trucks and thats why I am asking all thes questions. Thank you for your time ! 👊
@JKVTrucking0072 жыл бұрын
@oramlll I hope they will improve electric truck batteries in few years and I will be able to pay good for my drivers😆🤷🏻♂️
@bamendaboy99562 жыл бұрын
Hi sir I included my wife in to my Llc any advice I am in US
@aamerawan77902 жыл бұрын
I wanted to follow urs advice if u let me
@NorthAmerican-Trucking-News2 жыл бұрын
???
@rustydemz79192 жыл бұрын
Canadians talkin' about "successfully" working the tax system: "and hey, yu know what, takin' it in the ass by your government really isn't all that bad! Yu get used to it." lmao...sorry, couldn't resist.
@brendongathings53062 жыл бұрын
Gray areas. Don't do that guys. Don't take stupid tax positions
@Stanley_Furley2 жыл бұрын
Just checking if you're reading comments.....reply to this one with "Yep"....lol