Trading TAXES in Canada - Sole proprietorship vs Incorporation (Tax deductions)

0:00 Intro to day trader tax Canada
1:40 Capital gains vs business income
3:35 Sole proprietorship (self-employment traders)
4:55 Tax deductions for day traders
6:35 Incorporation for day traders
10:33 Cons of day trading as a corporation
In this video, I’ll be going over the best way to save on taxes for day traders in Canada. Covering topics like trading sole proprietorship or trading incorporation, tax deductions and tax-saving tips for active traders. It doesn't matter if you are a beginner day trader in 2022 or an experienced trader, this video is for you if you want to save more money on taxes!

Business structures, corporate tax rate resources:

📉My Trading Broker Platforms:
-Get 3 months FREE platform + 1 Month 10% off short locates

-Get 50% off Commissions & Short locates for 60 days
-Get 6 months FREE Trade Ideas scanner

🖥️My Stock Scanners & News feed:
Benzinga Pro FREE 14 day trial (use code "HUMBLEDTRADER" to get 25% Off )
Trade Ideas Scanner (use code "HUMBLED15" to get 15% Off)

✅My REAL Social Accounts:

#daytrading #stocks #stockmarket
___
DISCLAIMER: I am not a financial adviser nor a CPA. These videos are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: I only recommend products and services I truly believe in and use myself. Some of the links on this webpage are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Commissions earned will be used towards growing this channel.

Humbled Trader FAM count: 851,917

[pkc]

How can anyone not love love Humbled Trader you ROCK!

[pinoylandscaper]

Thank for the info I just started trading last year and this video helped me in taxes.

[MikailEstrada]

I appreciate all this info Shay! Fellow Canadian day trader here and this helps me a lot. Tax season is such a bummer 😰

[andu]

Thank you for all the information!
It is very much needed for traders based in Vancouver 🙏🌹

[LofiCity]

Sharing is caring LOL I almost choked on my coffee .. thanks humble trader YT wouldn't be the same without you !!

[SnackSavvy]

Amazing video! Clear as day. Thank you!!

[kanyin]

This is really good information provided in a simple way ❤

[chrismovac]

Great video, enjoyed the injected humor. Nice job passing on info that most find boring.

[guitarman]

For the owner/shareholder, there isn’t a huge difference overall in net cash after tax. Of course, an employee who has no skin in the game, might prefer dividend income.

[fwfeo]

That hand on the chest gesture you did for "appreciation" is almost identical to how Iranians show heartfelt appreciation! 🙂

[PicciGabber]

In Dubai (UAE) I pay 0% income tax and 0% company tax :D

[simoc]

You are holding up “6” like a Chinese 👍 love it 😊 thanks for the video. I learned a lot. I only made 5 figures in trading, no LLC for me 😅

[elf]

How would you file taxes as a sole prop though? What forms would you use? How do you declare yourself a sole prop? Do you also file your personal income taxes separately then? Therefore filing twice?

[acadian]

when you pay only 11% in taxes, that means most of the profits stay in the business account, you will then get taxed on it when transferring it into your personal account

[marcoechegarayrosa]

thanks for your advise and i really appreciate it is in spanich too thanks

[gagarwal]

Govts should also share losses if they want a chunk from profits.... taxing is bizzare phenomenon

[jason-ubqz]

You can keep but you will pay any time you withdraw something that would be double tax

[TheMontegonian]

What’s the purpose of incorporating when any money that you “save” is just being parked? Unable to be used unless you want it taxed.

[elf]

You keep talking about daytrading can you please make a video on swinging traders who do options and futures, does it still apply the same way as daytraders. Thanks keep up the great work.

[ttt]

New to your channel. Subscribe immediately. Very useful content and love your sense of humour. Will keep on watching your other videos. Thanks for your time and efforts creating these useful videos. Cheers!