Read Time:1 minute. Hey Reader! I made a video last Saturday talking about how a tax ecosystem can help nurture and grow a creator business, and I'm going dive into this today. One of the biggest reasons U.S. businesses are set up to thrive compared to Canadian ones is the flexibility in how they separate legal and tax identities. In the U.S., you can choose your legal structure for asset protection, like an LLC to shield personal assets, without being locked into a specific tax treatment....
23 days ago • 1 min read
Read Time:2 minutes. Hey Reader! I saw a post on Linkedin today and it is the inspiration for this week's article. It highlighted the disparity between Canada and the U.S' tax systems, especially with the recent changes from the One Big Beautiful Bill Act. See this excerpt from CPA Ontario: Canada’s tax system is falling behind, and it’s costing us more than dollars. While Americans are getting permanent relief through the OBBBA and extended Tax Cuts and Jobs Act benefits, Canadians remain...
about 1 month ago • 2 min read
Read Time:2 minutes. Hey Reader! A few weeks ago, I reviewed a viral clip where someone compares taxes in the Western world to life in Dubai. “We pay zero tax in the UAE and get world-class healthcare and safety,” they said. " The West is getting played." It’s true that tax rates in Canada and the U.S. can feel punishing. When people say, “I worked half the year just to pay taxes,” they’re not exaggerating. But zero income tax in a tax haven doesn’t equal freedom if you’re still on the hook...
about 2 months ago • 1 min read
Read Time:2 minutes. Hey Reader! Today, we're going to pocket watch Kai Cenat. Specifically, we'll observe his tax strategies from the Big Brother playbook, to entity structures and relocation. Reports suggest (I watched a podcast discussing this) he earns about 3.6M per month. Though I cannot say for sure as I am not in the room with his CPA, I would imagine Kai's effective tax rate to be low despite this, as a result of proper tax planning. How, you ask? Kai is leveraging a strategy that...
about 2 months ago • 1 min read
Read Time:2 minutes. Jurisdiction: United States Hey Reader! As of July 4th, a massive 900-page tax bill just became law in the United States. Nicknamed the "one big beautiful bill," this changes the game for our community of content creators and small business owners. The tax benefits from the 2017 Tax Cuts and Jobs Act are now permanent. That includes a higher standard deduction, lower top tax brackets, and an increased child tax credit. In fact, the child tax credit is going up to 2,200...
2 months ago • 1 min read
Read Time:1 minute Hey Reader! Last week, we talked about deducting. It is flashy, common, and often overused. Now we'll get into something more mundane, yet ultra effective. The second tax strategy pillar is deferring. Deferring is one of my personal favorites because it buys you time. It does not eliminate tax, but it shifts it into the future, and that alone can change the entire game. You are using arbitrage (playing between current and future tax rates) to determine the optimal tax...
2 months ago • 1 min read
Read Time:1 minute Hey Reader! Every tax strategy you have ever heard of fits into one of five key pillars. The first one, and the one most people begin with, is deducting. Deducting is that bread and butter move you rely on often. In sports terms, it is the step over or the hesitation dribble. It gets used a lot, especially early in your business journey. When you buy a laptop, a camera, course, software, or travel for work, you want to write it off. And you can, if it meets the criteria of...
3 months ago • 1 min read