Can A Corporation Use A Shareholder's Personal Account

Avalon Accounting • March 21, 2025

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We want to help small businesses in Canada be more successful. We'll cover Canadian taxes, growth strategies and how to build a valuable business. We are accountants by trade, but we are also business owners ourselves and have learned a thing or two by working with hundreds of small businesses across Canada. We also believe that small businesses are the backbone of our communities and deserve a better deal. We want to offer as much useful information as possible so that you can run a business that is not only profitable, but gives you your time back and allows you to support your community. Our videos are all created with this aim. Please let us know if there are any small business videos you would like us to do! We love adding more helpful videos.

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🚨 Think you can use your personal bank account for your corporation? Think again! Mixing business and personal funds can lead to tax issues, CRA audits, and financial headaches. Stay compliant and keep your records clean. 👉 Watch the full video linked below to learn why a business bank account is a must! https://youtu.be/oXs_9FS0utI?si=YNUtIMFMoWr1hHqI #SmallBusinessTips #CanadianBusiness #BookkeepingEssentials ****************************** ✅ Sign up for our newsletter here: https://www.avalonaccounting.ca/weekly-tax-tips ****************************** 🅰️ AVALON ACCOUNTING Avalon is a virtual accounting firm located in Canada. We aim to be THE online accounting department for small businesses in Canada. We provide online bookkeeping, accounting services and expert financial advice for small businesses. We are on a mission to educate small business owners through our YouTube channel, blog and free resources. Check out our links below to dive in. ► Website: https://www.avalonaccounting.ca/ ****************************** 🧑‍🏫 ONLINE COURSES ► Take your business to the next level with our online courses. https://www.avalonaccounting.ca/courses ✅ ESSENTIAL FINANCIAL CONCEPTS FOR SMALL BUSINESSES (🆓FREE COURSE) ► Keys to building a business that provides owners with time, money and purpose. https://www.avalonaccounting.ca/courses/essential-financial-concepts-for-small-businesses 🖥️ LEARN MODERN BOOKKEEPING ► Learn to do your own bookkeeping with modern tools and our proven practices. https://www.avalonaccounting.ca/courses/bookkeeping-with-xero-and-dext 📈 BOOKKEEPING AND TAX FOR FREELANCERS ► This course teaches sole proprietors how to simplify bookkeeping and taxes. https://www.avalonaccounting.ca/courses/bookkeeping-and-taxes-for-freelancers ****************************** 💼 20% OFF INCORPORATION WITH OWNR If you are looking to incorporate (in Canada) and want to save some cash, check out Ownr with our affiliate link for 20% off incorporation costs: ► https://www.ownr.co/partners/avalon-accounting?gspk=avalon564 We may receive compensation when our link is used to sign up with OWNR ****************************** 🧑🏻‍🏫 FREE BUSINESS GUIDES: ► Starting Your Business Guide: https://joecollins.typeform.com/to/bcOpcE8R?typeform-source=avalonaccounting.ca ► Business Owner’s Productivity Guide: https://joecollins.typeform.com/to/zJfbA48x?typeform-source=avalonaccounting.ca ► Financial Foundations Guide: https://joecollins.typeform.com/to/jFOOltxF?typeform-source=avalonaccounting.ca ► $1 Million Dollar Service Based Business Guide: https://joecollins.typeform.com/to/e26VYo7R?typeform-source=avalonaccounting.ca