In this video, Joe explains what a shareholder loan is and how to use it. He also discusses potential tax issues that can arise with CRA and how to avoid them.

This video answers these questions:
► What is a Shareholder Loan?
► How is a Shareholder Loan Used?
► What Does Your Shareholder Loan Balance Mean?
► What Does Your Shareholder Loan on a Balance Sheet Look Like?
► Shareholder Loan Problems with CRA
► How to Avoid Shareholder Loan Tax Problems

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CONTENTS OF THIS VIDEO

00:00 Intro
00:36 What Is a Shareholder Loan?
01:36 How a Shareholder Loan Is Used
01:42 Owner Cash Withdrawal
02:03 Purchase of a Personal Item with Company Funds
03:11 Owner Cash Contribution
04:22 Paying a Business Expense with Personal Funds
05:19 What Your Shareholder Loan Balance Means
06:37 Bookkeeping Courses
06:56 Shareholder Loan on a Balance Sheet
08:44 Shareholder Loan Problems with the CRA
09:21 How to Avoid Shareholder Loan Tax Problems
09:52 Repaying the Loan
10:36 Taking the Funds as a Salary
11:14 Taking the Funds as a Dividend
11:50 Final Thoughts

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MENTIONED IN THIS VIDEO

► Shareholder Loan Blog Post
https://www.avalonaccounting.ca/blog/...

► Small Business Bookkeeping with Xero and Dext
https://www.avalonaccounting.ca/cours...

► Financial Foundations Guide
https://joecollins.typeform.com/to/jF...

► Salary vs. Dividends How to Pay Yourself from Your Corporation
   • Salary vs Dividends  Take 15 Minutes...  

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AVALON ACCOUNTING

Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada.

We provide online bookkeeping, accounting services and expert financial advice for small businesses.

We are on a mission to educate small business owners through our YouTube channel, blog and free resources. Check out our links below to dive in.

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❓ FAQs

► What Can I Writeoff? http://bit.ly/EXPENSESCAN
► Should I incorporate my business in Canada? http://bit.ly/INCORPCAN
► What is a shareholder loan? http://bit.ly/SHLOANCAN
► When and How Should I Hire an Employee? http://bit.ly/hirelikeapro
► Should I offer profit sharing? http://bit.ly/PROFITSHARECAN

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‍ FREE BUSINESS GUIDES:

► Starting Your Business Guide:
https://joecollins.typeform.com/to/bc...

► Business Owner’s Productivity Guide:
https://joecollins.typeform.com/to/zJ...

► Financial Foundations Guide:
https://joecollins.typeform.com/to/jF...

► $1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e2...

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