I Started a Company By Accident

Share this & earn $10
Devon Crawford
Published at : 24 Nov 2020
360884 views
17182
273

So.. I started my first company.

I never used to consider this youtube thing a "real" business as I'm just a kid making videos in dark room (not so dark anymore). So I talked to some friends running startups and they gave me some really great feedback and hooked me up with legal professionals. I decided to incorporate because I realized what I've already been doing by paying myself as little as possible and saving the rest is exactly what a corporation is meant for (and there's some serious tax benefits with that).

I wanted to be as transparent as possible in this video. I know its not the usual tech content but sometimes I wander off into some other interests such as business. I'm very excited to use the profits from this channel to their fullest potential, by reinvesting into videos and technology products. Thanks for watching my dudes.

Legal consultation for this video provided by SM Legal (www.smlegal.ca) - not a sponsor, he just watched over the video and thought I should clarify a few things:

"-Corporate revenue is taxed at 13%, not individual earnings. Once you take the money out of the corporation as either a dividend (share payout) or salary, you will still be taxed (at income rate for salary, at capital gains rate for dividend).

-In your calculation at the end(20K), you may want to mention that the tax paid is before any dividend/salary payout

-You may want to mention that for a corporation to be a financially better decision than earning as a sole-proprietor, most accountants say you need to be making at least between $30,000 - $40,000. This is because a corporation has more administrative costs (including a longer tax return, for which accountants usually charge more) so at under 30 - 40K, the tax savings are pretty much cancelled out by the more expensive admin"

This content is for information purposes only. The content presented here is not legal advice. If you are looking to incorporate, speak with an accountant.

Next Video: https://youtu.be/hLjht9uJWgw
Previous Video:

Social
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
Website: https://devoncrawford.io
Twitter: https://twitter.com/DevonCrawford13
Snapchat: https://www.snapchat.com/add/devoncrawfordyt
Instagram: https://www.instagram.com/devoncrawford_/
Github: https://github.com/devoncrawford
Discord: https://discord.gg/sU2fur9
Patreon: https://www.patreon.com/devoncrawford

Gear
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
- Video Editing Software (Premiere Pro CC): https://goo.gl/rKx66D
- Keyboard (Velocifire TKL01) : https://amzn.to/2AQTjJQ
- Webcam (Logitech C920): https://amzn.to/2Cw588c
- Desk Microphone (Blue Yeti): https://amzn.to/2FPFmzi
- DSLR (Canon T7i): https://amzn.to/2T54mpZ
- Full list of gear: https://devoncrawford.io/gear

Music
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
junyii. EP [2018]
Link: https://soundcloud.com/chillchildren/junyii-ep-2018

spd. - heaven
Link: https://soundcloud.com/spudmcqueen/heaven
Devon CrawfordStartupI started a company by accident

[2020 MBC 가요대제전] 더보이즈 X 이달의 소녀 - Blinding Lights(원곡: The Weeknd), MBC 201231 방송

[2020 MBC 가요대제전] 더보이즈 X 이달의 소녀 - Blinding Lights(원곡: The Weeknd), MBC 201231 방송

COUNTING DOWN TO OUR FAVORITE HOLIDAYS | Oddbods | Cartoons for Babies & Kids

COUNTING DOWN TO OUR FAVORITE HOLIDAYS | Oddbods | Cartoons for Babies & Kids

Ellie Goulding - I Know You Care (Official Video)

Ellie Goulding - I Know You Care (Official Video)

INTERVALS : NOT THE GODSEND YOU THINK THEY ARE

INTERVALS : NOT THE GODSEND YOU THINK THEY ARE

22 POWERFUL BEAUTY HACKS FOR A GORGEOUS LOOK

22 POWERFUL BEAUTY HACKS FOR A GORGEOUS LOOK

Kids Wear Dresses New Designs 2020 | Children Dress

Kids Wear Dresses New Designs 2020 | Children Dress

[THAISUB] Nothing - Jeremy Passion

[THAISUB] Nothing - Jeremy Passion

Meet Paper and Twine l 2021 goals I Crafty stash unboxing! I Cat makes an appearance!

Meet Paper and Twine l 2021 goals I Crafty stash unboxing! I Cat makes an appearance!

Enclosed patio ideas

Enclosed patio ideas

It's Time - Imagine Dragons

It's Time - Imagine Dragons

Semantic Components: A Model for Enhancing Retrieval of Domain-Specific Information

Semantic Components: A Model for Enhancing Retrieval of Domain-Specific Information

How Air Conditioner Work(Parts And Animation)

How Air Conditioner Work(Parts And Animation)

Jeph XO, Dizzy - How Many Times (Official Audio)

Jeph XO, Dizzy - How Many Times (Official Audio)

10 Outfits For When You Have Nothing To Wear

10 Outfits For When You Have Nothing To Wear

Thank You Song | CoComelon Nursery Rhymes & Kids Songs

Thank You Song | CoComelon Nursery Rhymes & Kids Songs

Official Preview | Man v. Lion

Official Preview | Man v. Lion

Play the Percentages | Smets at bonus round

Play the Percentages | Smets at bonus round

Have Big Macs Gotten Smaller? The Evidence!

Have Big Macs Gotten Smaller? The Evidence!

1-Minute Standing Exercises: Belly Fat Burner

1-Minute Standing Exercises: Belly Fat Burner

Little Mix - Notice (Audio)

Little Mix - Notice (Audio)

Kavi Kwai - False Impressions (Official Video)

Kavi Kwai - False Impressions (Official Video)

Taking Care of Others with Duggee | Hey Duggee

Taking Care of Others with Duggee | Hey Duggee

KEAN DYSSO x WONGA - That Cash

KEAN DYSSO x WONGA - That Cash

Knitting Much Faster English Method

Knitting Much Faster English Method

34+35 But you're in a bathroom at a party

34+35 But you're in a bathroom at a party

3-membered heterocycles | cyclodehydrohalogenation of beta-halo alcohols | 3-membered with oxygen

3-membered heterocycles | cyclodehydrohalogenation of beta-halo alcohols | 3-membered with oxygen

Sector 4 - Official Trailer #1 (2015)

Sector 4 - Official Trailer #1 (2015)

What is ANTICIPATION? What does ANTICIPATION mean? ANTICIPATION meaning, definition & explanation

What is ANTICIPATION? What does ANTICIPATION mean? ANTICIPATION meaning, definition & explanation

This Tool Helps You DRIVE SCREWS WITH EASE! (Bit Guide/Bit Sleeve/Drive Guide/Drill Bit Sleeve)

This Tool Helps You DRIVE SCREWS WITH EASE! (Bit Guide/Bit Sleeve/Drive Guide/Drill Bit Sleeve)

Xpander vs. ARUZ

Xpander vs. ARUZ

10 Babies Experiencing Things For The First Time - Funny Baby Videos

10 Babies Experiencing Things For The First Time - Funny Baby Videos

Add site and add a one way inbound link

Add site and add a one way inbound link

Why Choose Flutter in 2021

Why Choose Flutter in 2021

Real Recognize Rio ft 21 Savage - Pressure (Official Music Video)

Real Recognize Rio ft 21 Savage - Pressure (Official Music Video)

7 Uncommon Causes Of Headaches You May Not Know

7 Uncommon Causes Of Headaches You May Not Know

Canning lemon juice fresh from the tree 🍋

Canning lemon juice fresh from the tree 🍋

How to Win a Boxing Match in Apex Legends

How to Win a Boxing Match in Apex Legends

Saint Martin's day. Celebrated in different countries.

Saint Martin's day. Celebrated in different countries.

Residual Current Devices (RCD) - How they work

Residual Current Devices (RCD) - How they work

Abraham Hicks on Rhonda Byrne - The Secret behind The Secret

Abraham Hicks on Rhonda Byrne - The Secret behind The Secret

Friend or Foe: Does sunscreen cause skin cancer? (Medical myth)

Friend or Foe: Does sunscreen cause skin cancer? (Medical myth)

How to Solve the Rubik's Cube! (Beginner Method)

How to Solve the Rubik's Cube! (Beginner Method)

Vlad and Niki play with Magic Puzzles

Vlad and Niki play with Magic Puzzles

Mock the Week: The Best of Scenes We'd Like to See (Series 16)

Mock the Week: The Best of Scenes We'd Like to See (Series 16)

Can Back Pain Occur In Early Pregnancy

Can Back Pain Occur In Early Pregnancy

The BEST Single Edged Razor I’ve Ever Used - The Twig Razor - GIVEAWAY is OVER

The BEST Single Edged Razor I’ve Ever Used - The Twig Razor - GIVEAWAY is OVER

O Grinch - "You’re a Mean One, Mr. Grinch" Lyric Video

O Grinch - "You’re a Mean One, Mr. Grinch" Lyric Video

God's Order:  Puzzling over the TRUTH

God's Order: Puzzling over the TRUTH

Austin Rivers talks to media ahead after Knicks' practice in Tampa

Austin Rivers talks to media ahead after Knicks' practice in Tampa