My video started making more than that per month.

I wanted to save the rest because I was like, Oh, great.

I can save it so that I can re invested in the videos.

Or I could build some sort of technology product, like software or electronics.

My current business structure is I'm self employed.

So the government looks at that is personal income.

For some reason, I thought because I'm just one guy and I just make you two videos.

I was like, I can't start a company like I can't do that.

I like Wait.

So you're telling me if I just incorporate the government will now tax me at 13% because I keep the money there instead of here?

Yeah, I'm like, Oh, cool.

So So I'm gonna keep all my money there.

He's like, Yeah, you should do that.

If you can feel like Oh, so, guys, we're starting a company.

I guess we're ready running a company, but we're incorporating.

We're creating a corporation.

And that will mean I only pay myself 1500 a month and everything else is reinvested in the channel.

So I'm not gonna buy any lamb bows.

All I want is to work on things that are awesome.

So my lawyer, I just sent him all the information and he is incorporating on my behalf.

Like, right now, you know, it's it's Friday.

It's a few days later, my my lawyer got back to me and he said, Hi, Devin.

Please see the attached articles of incorporation for your new company.

You should be good to set up the bank account.

So we're we have a company now.

Um, let's see what this looks like.

I've probably blew out all of this because a little bit of private information here.

Okay, What is happening here?

I like you most.

It's funny.

I used to work at this staples here when I was, like, 16.

Now it's four years later.

I just bought these folders.

I didn't have any at home.

Just like a solid.

Yeah, that's better.

Why didn't I do this sooner?

Why didn't I create a company sooner?

I'm so excited.

I don't know I did.

You got business bank accounts open.

Cool.

I don't know what else to talk about.

Um, now what I want to do is move my money from my personal savings into the business savings.

But I just realized I need to make sure I do that in a way that it doesn't get taxed.

Now, I know why people don't record this stuff because it sounds boring on the outside.

Okay, so I've just been editing, but I want to explain a little bit further why I'm doing this.

And I want to get into the numbers.

I swear, it's not boring.

Just trust me here.

So I've looked up the combined federal and provincial personal income tax rates for Ontario, Canada, which is where I live.

You know, if you make between this much, then you pay this much in tax.

I'll tell you, right Right now, guys, I'm around this thes two areas, so I end up putting about 30% away for income tax each month.

Like you can see as you want to grow, you end up paying more and more tax if it's on your personal income.

But I don't want to use this money for personal personal reasons.

What blew my mind is when I looked at the corporate income tax rates.

Corporations pay 26.5% tax.

But if you make less than $500,000 you pay 13.5% tax.

So let's say one month you made $20,000 0 cool.

Live $20,000?

Nope.

You only have $10,000.

Whereas if you were a corporation, so the government would only take that much of it.

And I don't make that much money.

But I am aware that there are many bigger YouTubers stand me that make, like this much money or make a lot more money.

I've been questioning.

Are these guys incorporated or are they just paying 50% tax?

I don't I don't understand because I'm really interested in the numbers side of it, you know?

You know, the only reason I'm incorporating is cause people actually wash my videos.

So thank you, guys.

Thank you for watching.

I just am the kind of person who wants to optimize everything.

So I'm like, I want Thio.

I don't want to lose half my money if I start growing.

So how can I not lose half of my money.

Oh, this is how you know.

So that's really all that's really all this means to me at the current point in time.