Udemy – Small Business Blueprint course details

Section -1 Forms of Business Organization

1. Course and Lecture Notes

2. Introduction to the forms of organization
3. Sole proprietor and partnerships
4. Corporations and the advantages to incorporation
5. Partnership agreements
6. Shareholder agreements
7. Tax filing requirements
8. Deciding on a name for your business
9. Named vs numbered corporations
10. Federal vs Provincial incorporations
11. Changing the structure of your business
12. Responsibilities of proprietor
13. Responsibilities of corporate directors
14. Responsibilities of corporations shareholders

Section -2 Decision Process & Actions – Step by Step

15. Summary of steps to setting up a business

16. Step 1 – Putting the right team in place
17. Step 1 – Update on the Canadian Professional Accounting Body
18. Step 2 – Choosing your form of organization
19. Step 3 – Registering your business
20. Step 4 – Picking a year end date
21. Step 5 – Municipal issues, licenses and permits
22. Step 6 – Registering for a CRA Business number
23. Step 6a – The RC1 Request a Business Number Form
24. Step 6b – The GST-HST Account registration
25. Step 6c – The payroll account registration on the RC1
26. Step 6d – Import and export account registration
27. Step 7 – Registering with the safety insurance board (WSIB)
28. Step 7a – Example of a WSIB registration form
29. Step 8 – Opening a company bank account

Section -3 Owner Manager Compensation

30. Introduction to owner manager compensation

31. Paying yourself as a proprietor
32. The proprietor’s capital account
33. Paying yourself as a partner
34. The partnership capital account
35. Paying yourself if you are incorporated
36. Question to ask yourself on compensation
37. Planning elements of salaries and dividents
38. The logistics of paying yourself a salary
39. The logistics of paying yourself through dividends
40. End of year filing requirements for salary and dividends
Section -4 Tax Planning & Saving Strategies

41. Introduction to tax minimization strategies

42. Paying family members salaries and wages
43. Paying family members properly and setting up the process
44. Income splitting with shareholders and dividends
45. Tax saving strategy for tuition fees
46. Tuition strategy using salaries to children
47. Using medical expenses as a business deduction
48. Dangers and pitfall of corporate paid benefits
49. The dangers of deducting personal expenses in your corporation

Section -5 Bookkeeping & Record keeping

50. Introduction to record keeping and expenses

51. Deducting vehicle expenses as a proprietor/partner
52. Deducting vehicle expenses if you are incorporated
53. Planning elements and pitfalls for corporate vehicles
54. Charging your corporation for using your personal vehicles
55. Deducting home office expenses as a proprietor
56. Criteria and rules for writing off home office expenses
57. Dangers and areas of caution with home office expenses
58. Home office expense deduction through a corporation
59. Make sure your expenses are deductible with proper records
60. The 3 ways to pay expenses and keeping your payment system clean
61. A simple and effective filing system for your receipts and invoices

Section -6 Conclusion

62. Concluding remarks