Incorporation (Part 5): Your first meeting with a lawyer

Once you have gathered the necessary information, and if you have decided to incorporate, the next step is to meet with a business lawyer who will start-up and help maintain your corporation with the best interests of your business in mind. To streamline and tailor your experience with your lawyer, it is helpful to prepare [...]

Incorporation (Part 4): How and when?

How do I incorporate? If you would like to incorporate your business, enlist the professionals who will guide you through starting up, maintaining, and operating your corporation. A corporate accountant can work with you to uncover potential tax benefits, develop a suitable share structure, and, once your business is incorporated, he/she can produce annual financial [...]

Incorporation (Part 3): Extra considerations

To plan for the creation and future maintenance and operation of your corporation, there are some important issues to consider, such as: (a) the impacts of pre-existing contracts on your new corporation, (b) using and registering trade names, (c) transferring your personal assets to your corporation, (d) having a secondary will, (e) entering into a [...]

Incorporating (Part 2): The obligations

In Part 1 of this blog series, we discussed what it means to incorporate and the potential benefits of incorporating a business. Incorporating also comes with one-time and recurring legal obligations, some of which require money, time, and attention, such as (a) filing annual income tax returns; (b) filing annual information returns; (c) registering a [...]

Incorporating (Part 1): The benefits

The first thing a business owner who is considering incorporation should know is what a corporation is and why someone might choose to operate a business through this type of entity. What is a corporation? A corporation is a business that has been federally or provincially incorporated. When a business owner incorporates his/her business, he/she [...]