Nav, hmmm your calculations of corp tax on net income is the Fed+prov rate less SBD on the net taxable Income. Then you can take your dividend (and remember to tax the dividend top-up).
@201kirti
Жыл бұрын
Very informative video. Thanks for making it .
@growwithnav
Жыл бұрын
👏👏👏
@Jatin_Tokas
Жыл бұрын
Another video packed with great information information :)
@growwithnav
Жыл бұрын
Thank you 😊
@frontendmayhem1247
Жыл бұрын
How can we report a mortgage agent that is trying to commit fraud? I see so many people getting trapped and it would be nice to start taking some action against these guys. I am glad to see some people from our community doing honest work. 👍
@Lj22
Жыл бұрын
He won’t comment on this. He belongs to the same industry lol
@thomsonozhukayil2797
Жыл бұрын
Thank you soooo much for sharing brother.
@allitm4642
Жыл бұрын
Keep up the great work Navjot 👍🏼🙏
@mahjabeengardencenter129
5 ай бұрын
Very Good Comparison
@vivektanwar469
Жыл бұрын
After Watching your Videos I Started loving numbers a lot and you also taught us that we should not go for any fraud just to buy a house always do right things and grow with nav 💯
@karanmohindroo14
Жыл бұрын
Thanks for sharing the other side. It will be great if you could make a video on Contract vs full time job in long term.
@bhawardeepsingh7649
Жыл бұрын
Hello Nav, please make a video on WFG. Is it worth to join? How it works? For which people this business suits? I got approached by bunch of people to join WFG.
@growwithnav
Жыл бұрын
It’s a decent product run by people who don’t know what they are talking about :) The problem is that they try to sell the wrong product to the wrong kind of people.
@Lj22
Жыл бұрын
@@growwithnav is it more money in mortages than WFG or selling real estate ? What was your reasoning behind becoming a mortgage agent and not a realtor ?
@rajatgoyal1261
Жыл бұрын
@@growwithnav well put it into words.
@dushyantgupta11
Жыл бұрын
Very informative ❤
@abhilash1237
Жыл бұрын
Very good informative video Nav, how about peer to peer lending like gopeer?
@growwithnav
Жыл бұрын
Not sure about regulations around it. Still very nascent
@1988amitgarg
Жыл бұрын
@Grow with Nav ...How would you pay for 20% downpayment if you just bring 60k as dividends from your corporation to your personal account. You would need a lot more than that considering you will have personal expenses too. So, the 28k savings in a contract role doesn't seem right. You might end up paying more taxes when you bring it into your personal account in the future when your tax slab might be higher than what you have right now.
@growwithnav
Жыл бұрын
You can take a home buyers loan from Corp if you are buying for self .
@ankurperiwal9704
Жыл бұрын
Great vid!
@growwithnav
Жыл бұрын
👏👏
@viralharia4520
Жыл бұрын
Hi Navjot. If you are taking dividends from the Corp, then it will not be a deduction in the Corp. your gross income will still be 150 on which you pay tax. You can deduct other expenses but not dividend
@growwithnav
Жыл бұрын
You are taxed on net income in the Corp…
@chaitanyapoddar8244
Жыл бұрын
The original comment is absolutely right. Dividends are never tax deductible. You will have to pay tax on 150k. But, a very informative video again :)
@viralharia4520
Жыл бұрын
@@growwithnav yes you will be taxed on net. In your example you deducted dividends to arrive at net. Dividends are not deductible as expense. You can check with your CPA, he should confirm it.
@growwithnav
Жыл бұрын
Yes you are right. Makes sense! Thanks
@achlesh420
Жыл бұрын
@@growwithnav also u can't use your business income on personal expenses so u have to bring it to your personal income in later years so then u have to pay tax
@larryisaac8988
8 ай бұрын
Do you have a video about source of funds acceptable for downpayment? im getting wrong info. some says you can borrow/loan money, some says it should be at least 6months in bank account etc.
@growwithnav
8 ай бұрын
You can’t borrow or loan money for a downpayment esp. if you are going to a big bank. If you have to borrow, it needs to be added to your liabilities (just like a car with a payment). Gifts from family is acceptable though. I don’t know your situation fully, so unable to say what’s right for you - however please feel free to book a call in the bio and we can help.
@frontendmayhem1247
Жыл бұрын
Information about EQ bank seems incorrect. I have a variable rate mortgage with EQ bank & I did not put 20% down.
@growwithnav
Жыл бұрын
They have A side as well. The prepayment penalties are a lot though.
@thehustlebeez3590
Жыл бұрын
Hi brother a little correction on your dividend example . You are wrong there your gross will still stay 150k and you cannot expense down the dividends. But great video though!
@growwithnav
Жыл бұрын
Yes I realized that later 😀 I had salary in my initial slide and forgot to change the calculation when I changed to dividend 🤦♂️
@sunilgrover87
Жыл бұрын
Can you share a contact for a good accountant? It’s been a big struggle to find a good one
@clarabella452
Жыл бұрын
I will strongly advice you against self trading, it's really dangerous and had brought so many investors down, you need some one with the knowledge and strategies, someone dedicated to the crypto currency market buisness, and I will strongly recommend expert Mrs Anna
@clarabella452
Жыл бұрын
Telegram 👇👇👇
@clarabella452
Жыл бұрын
@Incommore….
@clarabella452
Жыл бұрын
@Incommore….
@crickinsight3319
Жыл бұрын
Will modgage agent will be taken by AI in future?
@growwithnav
Жыл бұрын
Yes 100%
@SD-db5mc
Жыл бұрын
Can you take more than 60000 $ as dividends on a income of 150k?
@growwithnav
Жыл бұрын
Sure you can
@kamalmarok
Жыл бұрын
how? @SD
@rahilgillani4143
Жыл бұрын
How do I reach out to you for mortgage questions?
@growwithnav
Жыл бұрын
Link to book a call in the bio
@Mrrandhir1984
Жыл бұрын
Do you and your wife has a separate incorporation?
@growwithnav
Жыл бұрын
Yes
@Mrrandhir1984
Жыл бұрын
@@growwithnav what’s the pro and cons having it combined? Also bank assesses you for mortgage against the corporation net income (90k in your example) or dividend withdrawn (60k)
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