Simran's new "Contract Job" - Pros & Cons vs Full time job in Canada 🇨🇦

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Күн бұрын

We talk about 4 important aspects of a full time vs contract job - Pay, benefits, tax & mortgage.
00:00 What is a contract job?
02:36 Difference in pay / income
03:44 Difference in benefits
05:55 Difference in tax (BIG ONE!)
08:26 Difference in ability to buy a house
10:22 Explaining the numbers
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Пікірлер: 176

@saurabhparandekar89 2 жыл бұрын

Every video is so informative, congrats Simran and way to go!!

@allitm4642 2 жыл бұрын

Awesome video!! Keep up the great work Simran and Navjot 👍

@sandeepparihar4623 2 жыл бұрын

The calculation shown in the end of video is factually incorrect. When you have only paid business tax (12.5%) on the contract income, you need to keep that money only for business purposes You can not move that money into your personal account without paying tax at personal income tax rate. In order to move that money from business to personal account, you have to take personal income as salary and pay taxes as per Personal tax rate. In addition, while taking personal salary from your business, you need to pay CPP twice ( one for you as an employee and one as a employer - which is you ). If you have paid business tax on certain income, while transferring that income to your personal account you get some tax credits and you still have to pay remaining personal taxes.

@Potatotalkies 2 жыл бұрын

All good points. That’s why you should always work with an accountant on how best to manage the tax slabs. Besides, we are running on one income anyways… so for us, it’s all in the Inc :)

@Vikram_Dhonthi 2 жыл бұрын

@@Potatotalkies I am working with accountant and @sandeep parihar comments is true. Also watch Avalon Accounting youtube channel he explains. If you take money out business account for personal expense you could take as DIVIDEND or Personal income paying CPP, etc. Pls check again sir.

@arkasarkar3901 2 жыл бұрын

You can incorporate a holding company and use it to fulfil all your needs and transfer money to this company so ,no personal income taxes need to paid

@gouravchoubey860 2 жыл бұрын

Well said..and what is point if we can't use the money lying in business account and need to pay tax if need to spend it. Also, can't show major expenses like buying ablaptop is once in a while to get tax benefit .other expenses will be minor only .

@gouravchoubey860 2 жыл бұрын

@@arkasarkar3901 but ultimately we need to pay back money we used ,This is as if we are borrowing money from ourself.

@santoshsubudhi6461 2 жыл бұрын

You guys are doing amazing job. Keep posting good videos like this

@ranjan.poojary 2 жыл бұрын

Great information guys.. thank you so much!! 😀🙏

@sainitheknightrider6891 2 жыл бұрын

Very informative and well articulated the job details and related benefits.

@gauravkashyap2357 2 жыл бұрын

Every video coming on different topic. Always curious to get the valuable knowledge from your videos Guys!! Keep going on Guys!!!

@REVIEWSONTHERUN 2 жыл бұрын

Good to know. Thank you for sharing it. ✌️

@JanInCan 2 жыл бұрын

Nicely explained as always 👍

@azzy168 2 жыл бұрын

Awesome video guys! Really informative. It would be great if you guys do a video on how we can incorporate in Canada and start working as contractor.

@DsinghMundae 2 жыл бұрын

Very informative thank you guys

@madasarlatif1057 10 ай бұрын

Loved the video

@vineetvaid831 2 жыл бұрын

V useful insights and thoroughly explained with numb’s 👍 Indeed it’s well explained and wrong perception which lot many people used to carry ( including me 😊 ) towards contract jobs would hv some change,if managed with incorp concept…thanks guys !

@9427501111 2 жыл бұрын

Great video Thanks

@jiya5423 2 жыл бұрын

I love your videos!! Tbh!! You guys are really honest i wish i can meet you... And greet sir...'cause no matter he is teaching us and his passion of teaching!

@Potatotalkies 2 жыл бұрын

Bilkul… I am sure we will meet 😀

@cccpsra 2 жыл бұрын

Good overall video. I would like to focus on point 3 - Taxes for Contracting once you have incorporated. After the small business rebate, the corporate tax comes out to be 12.5%. However, if you withdraw money out of that Incorporation the amount withdrawn will be liable for personal income tax. It's a good strategy so long as you decide not to withdrawn money out of incorporation or split at the beginning depending on Cashflow needs. Like 30% of Total Revenue goes into Incorporation, 70% is withdrawn under personal taxable income. Also need to understand that CRA may consider am Incorporation as a PSB (Personal Services Business). For example, if there is an IT Security Analyst who decides to incorporates and say work for TD Bank instead of working as an employee. Since Revenue is directly controlled by TD Bank CRA will consider that as PSB and not be eligible for Small Business Rebate. In such cases CRA may decide (if audited) that Corporate tax is 44%. If you are working over your laptop - like IT Security Analyst in our example, you won't have many expenses to claim. It's good for a role like let's say Builder or Landscaper. You can buy a pickup truck, material etc, and expense it. If you are working over laptop and don't have multiple clients like TD, BMO, CP just as an example. If your majority Revenue is dependent on 1 client then CRA may consider it as PSB.

@shivarajalagond3431 2 жыл бұрын

Yeah this is what my accountant told me. She suggested it would be better if you worked for more than 1 client.

@akshayhiremath4584 Жыл бұрын

You are spot on right!

@Moonstruck89 Жыл бұрын

Hey Ayon, is a professional services business eligible for small business perks (such as the CEBA loan during covid)?

@sunitaduggal3290 2 жыл бұрын

Great information 👍

@AparnaPSown 2 жыл бұрын

Very informative video.

@OleCanada 2 жыл бұрын

Backing everything with Numbers. And numbers DON'T LIE. That is one of the biggest reasons why we love your channel and its content a lot. Honestly, taking time and putting down comment on a video is not we do often but your videos are worth it. Thanks Nav/Simran for the video. Cheers! 🌸

@Potatotalkies 2 жыл бұрын

👏👏👏

@jaiminpatel2024 2 жыл бұрын

Agreed 100%. Number is everything at the end.

@RobinLalwani 2 жыл бұрын

Nice information @Potato Talkies - Canada. Could you please throw more light on what is incorporation in a contract job ?

@itztannu 2 жыл бұрын

Nice Video Navjot.. May be you should also add 4 weeks paid vacation, approx. 4% RRSP contribution additional to the base salary in full time.

@Potatotalkies 2 жыл бұрын

Simran’s past job did not have rrsp matching… and she is still getting 3 weeks paid vacation. 100% do the maths and see the number that makes sense for you to make the switch.

@SuperJibygeorge 2 жыл бұрын

Good Video...Couple of points to Note 1. In the Calculation you showed : FT Job Income and Taxable Income is not the Same ... 2. FT Job income is your Gross Salary and you can do several deductions in your FT job like RRSP, CPP, Company Provided Medical, Transport etc..... so there is definitely a much lower Taxable income after deductions 3. The Problem with Contract jobs is eventually if you want a stable FT Job , i have often found interviewers not keen on People who have done several contract jobs , as it looks like they don't have the ability to secure a FT Job, this is very skeptical but most HR folks think across those lines 4. There has to be limits on Deductions in Contract Jobs , i am not sure if you can write off anything and everything , there will be codes and limits 5. As a Western Society , there is no qualms in paying Taxes, the Taxes pay for your Roads, Hospitals, Schools , other public services ...so it is good to pay your fair share of taxes ...obviously you can be smart to manage them but alteast in Canada and the US , you get what you pay for with the Taxes .

@Potatotalkies 2 жыл бұрын

👍

@milanpreetchawla2171 2 жыл бұрын

Great video again guys. :) 2 things though. 1. What happens to time off? Leaves are unpaid in most cases. Are public holidays paid? Also, most companies have Furlough policies. Which means that contractors get 1 additional unpaid day off along with every public holiday. In December, 20th Dec to 5 Jan is usually unpaid . 2. Will look forward to your video on how incorporations work, especially the tax part when you need to pay yourself.

@Potatotalkies 2 жыл бұрын

Thanks :) Simran’s company is giving her 3 weeks of paid leave + Christmas week off. But most contract jobs won’t do that. Will make a video on Inc soon

@junkie0jak 2 жыл бұрын

Just a point… the expenses that you can write off (15000 here) buy you a lot of goodies which otherwise you would be buying from your taxed income. So actually that is also in a way adding to your income…

@jeevanjoshi1070 2 жыл бұрын

Nice 👍🏻👍🏻 Madamji is a Technology Practitioner!!

@SrikarAnanthula 2 жыл бұрын

This is nice. Thanks for sharing. If u can add other factors by doing contracts with US companies, things will go more crazy :)

@Potatotalkies 2 жыл бұрын

;)

@kaus43454 2 жыл бұрын

Hi, What does Expenses (write off) mean? Is it including all your household expenses or related only to work?

@kshu18 2 жыл бұрын

What about pension plans that the company invest in you? What about company benefits if we want to study further? What about the RRSP contribution match by the company?

@charanjitsingh3472 2 жыл бұрын

Can you plz come up with new video on latest announcement done by IRCC in march 2022 in regards to PR processing time

@djjenson 2 жыл бұрын

Great video guys. But this just got me thinking, wouldn't it make more sense to have a contract job at the start where you can save more for the down payment and after you have saved enough look for a permanent job giving you benefits of the mortgage interest as well?

@Potatotalkies 2 жыл бұрын

Sure… whatever works for you. We wanted a little more stability to start with 👍

@dushyantgupta11 2 жыл бұрын

Awesome research guys.🥰 If possible please make a video on how to setup an incorporation- types of incorporation etc. Thanks 🎉

@Potatotalkies 2 жыл бұрын

Sure - we paid $200 to an accountant :)

@dushyantgupta11 2 жыл бұрын

@@Potatotalkies if poss share info like what all types of incorporation are there, which is suitable for which individual. Thanks

@urban_desizz5053 Ай бұрын

Do contract jobs( which are time bound where you don’t need to create an incorporation) count for CEC towards PR?

@ankitaahuja111 2 жыл бұрын

I think you can pay for EI with some private companies.

@pratapmanek9480 2 жыл бұрын

wonderful couple

@rohitpuranikratlami 2 жыл бұрын

Will the points would be considered for contract job in Express entry..??

@kr7869 2 жыл бұрын

Can you please let us know who is your insurance provider who provides similar options as FUll time job

@VikasdeepSingh 2 жыл бұрын

This video should get a million views as the information shared is very useful and easy to understand. Actually one of friends who moved from here Japan to Canada (GTA) also doing contract job through his own corporation. He tried to explain why he did it but honestly that was not clear enough. You guys explained it really well. Thank you!

@Potatotalkies 2 жыл бұрын

👏👏👏

@karangajjar7706 2 жыл бұрын

Can we do incorporation on work permit too ? Are there any cons?

@kunalph 9 ай бұрын

Hey guys are contract jobs work experience considered by IRCC under CEC for PR pathway? Thank you

@jayshah8380 2 жыл бұрын

Navjot, my 2 cents, one major thing is hidden in calculation. Whenever you're taking out money from incorporation, you've to pay taxes as per your slab which are not factored here. If you don't take out money from incorporation, it's just deferred tax account. So incorporations pay well because you have to pay 12.5% for incorporation and personal taxes as per your slab, 25% as per your example. The only major benefit is expenses you can show, like you buy a car then you can expense it from incorporation and have depreciation benefit. Evaluate it closely, it still doesn't make sense to go for contact unless you have any major rent or car expenses to write off. You sacrifice all medical, retirement and leave benefits, and whenever a company is in financial trouble, they start cutting cost from contact levels as it's much easier to terminate it.

@preetiwithfamily305 2 жыл бұрын

Somewhere u r right and pros and cons are always there with everything but its depends upon how Strong ur back is means savings and how smartly we manage our contract money for our future …

@shivamlakhwara6746 2 жыл бұрын

That sounds very right to me Jay but I would definitely like to hear navjot's perspective of it with the number's as he usually does 😅😅

@jayshah8380 2 жыл бұрын

@@sharjindersingh3701 yes. Actually it's 12.5% incorporation plus your personal tax slab when you pay salary to yourself from incorporation.

@jayshah8380 2 жыл бұрын

@@shivamlakhwara6746 I trust him on numbers more than anyone else. He must have some insight on the topic. Let's wait to hear from him.

@rashmithakur9835 2 жыл бұрын

Also he didn’t add paid leaves money from contract , 3 weeks is normal duration for india which is 5k-6k pay cut easily , this doesn’t include other personal leaves through out the year …. 99% contract jobs doesn’t have any leaves !!! Keep that also in consideration

@TheRaimaxr 2 жыл бұрын

The first and far most thing we need to see a bigger picture. Despite all the calculation there is no organic growth in contract jobs if you want to grow your profile organic growth is most important factor so be careful about what you bargain against few grands.

@rahulrawat5459 2 жыл бұрын

Very Well explained with numbers Are there more expectations to delivery work or more responsibility in a contract job? I belong to IT profile working full time

@Potatotalkies 2 жыл бұрын

There can be - yes … depends on the employer

@akshayhiremath4584 Жыл бұрын

12:41 the 'Net Income' for the contract positions is the actual income of the corporation. That income is not yours to use. If you withdraw that money you are subject to personal income tax. e.g. In the case of 63,900 Corporation income, if you withdraw this whole amount as a dividend then as per the 2022 income tax rate in Ontario you may actually get in hand $57040. If you are doing the straight math and this number is not adding up then remember, here you pay benefits out of your after-tax income. And you will also pay more in the tax return filing, vacation days income is off, extras in the form of RRSP or retirement pension plan etc are off. I'm not really against Incorporating or contracting but the actual realized gains for knowledge workers are much less than they APPEAR! And if someone thinks of pulling off funny tricks with expenses (that are prevalent in the market) then you may be subject to a CRA audit and a gentleman in the comment here has broadly captured what may happen then (44%) 🙂

@girishvarpe 2 жыл бұрын

Can we think of contract role if you already got approval for mortgage based on your full time job and after closing of property can we think of moving to contract job from full time job?

@Potatotalkies 2 жыл бұрын

After closing your house and getting the keys - yes

@amitbhattacharjyya2088 2 жыл бұрын

Roughly what is the salary range for IT developer in contract job.

@ranvirgrewal8452 2 жыл бұрын

Great video. But I think you are wrong when you say you can write of the full laptop cost in 1 year . I think it's 30 percent.. The CRA organizes depreciable business assets into classes. Each class determines the portion of the expense you can write off each year. For example, buildings in class 1 have a depreciation rate of 4% per year, while computer hardware in class 10 has a depreciation rate of 30% per year.

@anandujjwal2219 2 жыл бұрын

I am gonna do the same but will my employer have to pay additional HST? moved to Kitchener downtown this week... landed 3 months back

@Potatotalkies 2 жыл бұрын

Yes, they might have to! So check with them on how your pay is structured

@MicrosoftFabric 2 жыл бұрын

Could you share end to end incorporation process, tax implication and write offs

@Potatotalkies 2 жыл бұрын

Soon

@MicrosoftFabric 2 жыл бұрын

@@Potatotalkies Thanks

@pankajguglani1988 2 жыл бұрын

♥️♥️♥️♥️♥️

@kunal21g 2 жыл бұрын

what happens to cpp that was already paid on a full time job will the amount already collected in the Canadian pension plan be accessible when u retire?

@Potatotalkies 2 жыл бұрын

You can keep paying it via incorporation. I am not a huge fan of cpp income :) won’t beat inflation.

@prasannasunny Жыл бұрын

But how how do you pay that money yourself, either by dividend or salary. How much tax on it.

@pavanp1130 2 жыл бұрын

Hey potato talkies...I have couple of questions As you have mentioned 12.5 tax .. is it for incorporation ? How you getting payed your self from incorporation?

@Ali-rw3tx 2 жыл бұрын

If you get a salary from your corporation then you pay personal income tax like everyone does.. that is why the numbers at the end of the video are factually incorrect

@riyathomas30 Жыл бұрын

Can we apply for CEC program if doing contract job for 1 year?

@mscslp7032 Жыл бұрын

Hi I have joined a contract job... New to Canada... But not sure how to do this incorporation... Plz enlighten

@maipardhan 2 жыл бұрын

Next video - how to make an Inc. Please make a video on this.

@arkasarkar3901 2 жыл бұрын

The best way to structure your business is by creating a holding corp ,but it is only beneficial only at CAD 200000 + of topline revenue " You'll likely want to pay yourself a salary to give you the max RRSP contribution room (roughly $150,000), pay yourself an eligible dividend of roughly $85,000 so that after the dividend gross-up personally and your subsequent RRSP deduction, you will be at the top marginal tax rate. You want to have your personal income at about that point every year so you are fully utilizing the marginal brackets up to the top rate (about $220,000 income). As that's a relatively small amount compared to the cash you will be pulling in, you'll want to be investing within a corp (vs. paying all the money out to you and investing personally) to defer the tax on withdrawal from the corp. Good chance it would be beneficially to set up a separate investing company and possibly trading company as well (one would treat investment gains as capital, the other income as this gives you flexibility). "

@Potatotalkies 2 жыл бұрын

Loving these tips. Thank you 😊 You sound exactly like my financial advisor 👏

@sivanesansiva7821 2 жыл бұрын

Hi bro I'm shiva I had done B.E in Electrical and electronic but I'm software developer for almost 4years I'm looking to move canada with my PR here the problem is if I evaluate my B.E I can't use my developer experience or if I use my developer experience they will reject it bcoz of my working field and studies are different so I request you to give me a some sort of solution

@ashoosaini3367 2 жыл бұрын

Neither contract jobs or full-time jobs give security. But is there a benefit difference of receiving severance package in a full time job in Canada?

@Potatotalkies 2 жыл бұрын

Haven’t heard about severance pay in canada

@Vikram_Dhonthi 2 жыл бұрын

But in Incorporation, we take salary and pay personal taxes. You cannot take complete money as dividend post coporation tax. Correct me pls?

@financenumber2953 2 жыл бұрын

If you are an individual who opens up a corporation and work for only one employer in the year, then CRA will treat this as PSB and tax your income at personal income tax rate. So, yes your understanding is correct. Eg - you work as an employee for a company and make $100k salary. Your income is taxed as personal income. Now If you leave the job and open your corporation and work for the employer as a contractor your income will be taxed at lower rate as it’s considered a corporate income. But here is the catch, CRA discourages this and will treat your income as PSB which is taxed at personal income rate.

@Vikram_Dhonthi 2 жыл бұрын

@@financenumber2953 exactly.. only benefit is the expenses you write off which are not taxed.

@Potatotalkies 2 жыл бұрын

Should have mentioned that we won’t take any money out of the incorporation :) Our expenses will be covered via my (Navjot) income.

@Vikram_Dhonthi 2 жыл бұрын

@@Potatotalkies Correct if you don't take money out, it's true. But eventually you need to take out. What is your plan otherwise Navjotji

@SiddharthKapoor30 2 жыл бұрын

@@Vikram_Dhonthi Good question at the end..

@parm6813 2 жыл бұрын

Hi guys . I m trading in crypto and forex in India right now . If I continue my trading over there with my job . So how can be tax calculation.?. Pls give an example .

@shameens3742 2 жыл бұрын

Me too waiting to buy a house and once closing is done will switch to contract jobs .

@navneetsingh-ic7yu 2 жыл бұрын

What we can show in expenses? Its only related to our job or we can add daily expenses like bills, groceries , shopping, rent etc..

@Potatotalkies 2 жыл бұрын

Will make a video soon

@aliwaqas8439 2 жыл бұрын

Guys I'm planning to visit Canada on a visitor visa but I'm thinking to move and permanently settling in Canada kindly guide me I know on a visitor visa work is not allowed but on a visitor visa can employers will take my interview to need your feedback.

@Shankhanil_Paul 2 жыл бұрын

Sir/Maam, arent there are statutory costs associated with having an Inc? As they are in India like showing AGM, etc...

@Potatotalkies 2 жыл бұрын

Nothing that a good accountant can’t handle for a couple of hundred dollars

@Shankhanil_Paul 2 жыл бұрын

@@Potatotalkies oh that's why it's easy to do business their. In India one has engage different professionals. Thank You Sir/Ma'am

@VishalSingh-mu2em 2 жыл бұрын

I hold MD in psychiatry from India and have applied for permanent residence of Canada, Can I start practice as psychiatrist in Canada once I get my PR? Do you have any knowledge or have links with people who can update on this

@canadianjatti 2 жыл бұрын

I have the same top from costco :)

@Potatotalkies 2 жыл бұрын

😀👏

@victoryguy123 2 жыл бұрын

Paaji a lot of respect for what you guys do - but you got to correct the tax calculation towards the end. I am 100 % sure that you pay either dividend tax(if you wish to withdraw shareholding dividend) or income tax (if you nominate yourself as employee in the inc.) - yes net savings will be your expense that you can claim.

@victoryguy123 2 жыл бұрын

Secondly you will be allowed to keep the status of inc if you have more employees in long term or else CRA will regard the entity as Sole Prop which is taxed at equal rate as individual income earner

@victoryguy123 2 жыл бұрын

Overall this topic is quiet debatable to one’s own role in the org. whereby at times full time roles may prove beneficial in long run.

@Potatotalkies 2 жыл бұрын

Yes true!! Thanks for the tips

@swapniltuscano578 2 жыл бұрын

What if My friend wants to buy a laptop by adding the bill in my name, can i write it off from the incorporation.

@Potatotalkies 2 жыл бұрын

No :) it needs to be ethical… that will be fraud 😀 it’s all business expenses

@shaibi26 2 жыл бұрын

Very informative!So Canada is not a dreamland, in fact many say the country is a mess these days. GCC countries are way better in terms of income, savings and life quality.

@ZeeMan2.0 2 жыл бұрын

Subhan Allah

@HitarthKakkad 2 жыл бұрын

Can we do multiple contract jobs simultaneously (for IT) ?

@Potatotalkies 2 жыл бұрын

You can as long as your contract doesn’t have a clause that stops you from doing it.

@arshS27 2 жыл бұрын

guys i have a question - how much cash deposits we can do per annum in bank without paying tax - is 10k fine? or we have to declare them in income as well ?

@Potatotalkies 2 жыл бұрын

Talk to an accountant please :) this is a CRA question and not to be take lightly :)

@arshS27 2 жыл бұрын

Cool , so if couple brings 19k on landing can they deposit 19k in their respect accounts ( 9.5k each ) . I hope this won't cause any issue as this is the first time deposit while opening a bank ?

@Potatotalkies 2 жыл бұрын

@@arshS27 first time deposit is fine. :)

@arshS27 2 жыл бұрын

Thanks and any limit on first time deposit ? In my case I soft landed 2 years back and did not open bank account then , will be moving now In July so can I deposit more say 15k in each bank ( I and my wifes bank )Do they check whether we have actually withdrawn this amount from indian savings bank , or from airport officers declaration form ?

@singh19921000 Жыл бұрын

How to the get EI deducted with contract job which mentioned in your video? The 289$ which are paying seperately ?

@Potatotalkies Жыл бұрын

You will have to pay yourself a salary then Yes, separately

@singh19921000 Жыл бұрын

@@Potatotalkies what ever is there in my business account can I pay 100% of that salary to myself ?

@Potatotalkies Жыл бұрын

Sure - it will have a tax implication. Make sure to hire an accountant and get their advise

@sagittarian1987 Жыл бұрын

How to find contractual jobs in Canada?

@abhinavpradhan2400 2 жыл бұрын

Is it also because Canada doesn’t have great job opportunities to maximize growth/wealth? In US , generally the best quality of talent + growth + salaries are in full time jobs. Is it difficult in Canada to get such high quality jobs?

@Potatotalkies 2 жыл бұрын

The jobs pay less in canada - yes :) But it gives you a permanency. Depends on what’s more important

@ritatuteja74 2 жыл бұрын

My daughter is graduate in computer science also working with accenture is it worth doingMACS from canada

@Potatotalkies 2 жыл бұрын

Depends on why she wants to come to canada

@ahmadqureshi1305 10 ай бұрын

can i have one incorporated part-time job and another full time permament?

@Potatotalkies 10 ай бұрын

Yes, but just be sure they are non competing companies

@wergr00t46 2 жыл бұрын

Can we apply for contract job if we are in visiting visa?

@Potatotalkies 2 жыл бұрын

Difficult… you can’t incorporate on visitor visa

@johnapone9656 2 жыл бұрын

Suggest for good CPA lawyer interested in Inc my work :)

@sachintrivedi7899 2 жыл бұрын

Bhai one question ! It's true that as corporation you pay less taxes on corp income. However when you take that money out from business to savings account or chequing account, does it get taxed as personal income ? Or as a business owner you only pay business tax slab and enjoy that money as your personal money ?

@Potatotalkies 2 жыл бұрын

Yes you pay personal tax … but you can control how much you pay yourself :) and hence fall in a lower tax slab

@sachintrivedi7899 2 жыл бұрын

@@Potatotalkies Makes sense. I was researching a bit about this because I have paid a whole lot of tax this year and want to switch to contract role 😂

@shamaparveen6719 2 жыл бұрын

@@sachintrivedi7899 believe me you will not enjoy the money as much, knowing the fact that you still have to pay the tax. I am experiencing it and in dilemma should I continue or leave .

@sachintrivedi7899 2 жыл бұрын

@@shamaparveen6719 Thanks, I am kind of hoping to have this as a secondary income. Taxes are hard reality and I am trying to make peace with it 😊

@vikaskumarsukhadiya9538 2 жыл бұрын

What all you have covered in the 289 per month insurance?

@vikaskumarsukhadiya9538 2 жыл бұрын

I have recently migrated and my company wants to keep me on contract for a few months and not sure what all should I take in terms of coverage when on contract.

@Potatotalkies 2 жыл бұрын

It’s the usual coverage.. dental etc

@ZeeMan2.0 2 жыл бұрын

Nice video simran ji weight gain 😇

@anmol8113 2 жыл бұрын

Want video on how couple on near to minimum wage can afford a house in canada ?

@Potatotalkies 2 жыл бұрын

Sure, unfortunately- moving to a cheaper province is the answer to that.

@Ali-rw3tx 2 жыл бұрын

As discussed below the calculations are incorrect as they only apply if money is kept in the corporation otherwise you are liable to be taxed at personal income tax rate for any withdrawals.. please do your homework before posting videos with such confidence as other people who are not finance savvy can believe in something that is not true

@ruqayyahsheikh3493 2 жыл бұрын

the way ur husband looks at you . he loves you soo much everyone can see in his eyes.❤️

@Potatotalkies 2 жыл бұрын

❤️❤️

@danielli9569 2 жыл бұрын

Sounds like contract jobs pay you way less in Canada. My wife is in IT and she is in a contract job she gets around 135$ per hour

@Potatotalkies 2 жыл бұрын

That’s great. Yes - Canada is way lower than US

@danielli9569 2 жыл бұрын

@@Potatotalkies sorry we are in Australia:) not in US

@rakasaabu4543 2 жыл бұрын

I CAN PROOF U R DOING FRAUD BY POSTING PERSONAL EXP TO INC...WHEN U DO A JOB UR TRAVEL AND LAPTOP REPAIR IS TAKEN CARE BY COMPANY..BUT IN COTRACT DONT KNOW WHAT EXP UR DEDUCTING....🤣🤣🤣

@sarlee459 2 жыл бұрын

somehow this video is misleading to start of 1. You loose rsp and employer matching contribution which makes a lot of difference 2. You loose flexibillity of taking leaves and eventually you work more with out taking leaves because u take hit in ur paycheck everytime you take leaves 3. If suppose you have to take long leaves due to emergency back in india etc you ll be laid of for sure. reason ? contractors are easily replacable and of least liabaillity. sorry but felt the video was made with less research

@Potatotalkies 2 жыл бұрын

Sure thanks

@vancouverdiaries738 2 жыл бұрын

Very tough to understand. I wish the video was little more scripted

@healthyindiancouple1888 2 жыл бұрын

I hope you didn't switch your job to a contract one using these calculations as clearly either you are nit able to explain correctly or you yourself didn't understand it yet. FYI .. dont want to ruin the party but I am speaking from 10+ years of incorporation