Incorporating (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 statements, […]
Incorporating (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 federal […]
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 creates a […]
Incorporating: What you need to know (a five-part blog series)
Are you currently operating a business as a sole proprietor or are you thinking about starting a business? Follow our upcoming five-part blog series to get the scoop on incorporating. Learn about the benefits and obligations associated with incorporating, things to consider, how and when to incorporate, and how to prepare for your first meeting […]