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Incorporating - anything to look for

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JRF
Member since: Jul 04

Posts: 1853
Location: GTA, Ontario
Post ID: #PID

Posted on: 10-04-07 16:26:26

Hi,

I'm trying to incorporate shortly and I've collected the links and procedures to proceed with incorporation. I am trying to do this by myself.

http://strategis.ic.gc.ca/epic/site/cd-dgc.nsf/en/h_cs01914e.html
http://sbinfocanada.about.com/od/incorporation/a/incorporate1.htm

Anything to look for while incorporating? Please share.

JRF.

-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

blabber
Member since: Dec 06

Posts: 72
Location:
Post ID: #PID

Posted on: 10-04-07 20:18:39

There are named companies and numbered companies ...
Named company you choose a name ....

which will cost you a little more as nobody else should be using this name and you have to search the names which are available

another thing you may want to setup your corporation to have
GST
Payroll

you can setup GST and payroll later as well .....

JRF
Member since: Jul 04

Posts: 1853
Location: GTA, Ontario
Post ID: #PID

Posted on: 11-04-07 01:10:30

Thanks for the info.
Currently planning to go with the number company.

Quote:
Originally posted by blabber

There are named companies and numbered companies ...
Named company you choose a name ....

which will cost you a little more as nobody else should be using this name and you have to search the names which are available

another thing you may want to setup your corporation to have
GST
Payroll

you can setup GST and payroll later as well .....

-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

jughead
Member since: Jun 04

Posts: 186
Location: Burnaby, BC
Post ID: #PID

Posted on: 11-04-07 01:40:09

Check this out - a few useful links here, from a couple of years back. You've probably seen them or know these already.

http://www.canadiandesi.ca/read.php?TID=7079" target="_blank">http://www.canadiandesi.ca/read.php?TID=7079

BTW, I never got around to doing this since I've been happy with my salaried job - at least for now.

Good luck!

BlueLobster
Member since: Oct 02

Posts: 3409
Location: Mississauga
Post ID: #PID

Posted on: 11-04-07 02:42:47

Quote:
Originally posted by JRF

Anything to look for while incorporating? Please share.

Get a good accountant! My two cents.

-----------------------------------------------------------------
Are you there?

JRF
Member since: Jul 04

Posts: 1853
Location: GTA, Ontario
Post ID: #PID

Posted on: 11-04-07 07:50:32

You mean while filing taxes or right at the start itself.

Quote:
Originally posted by BlueLobster

Get a good accountant! My two cents.

-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

BlueLobster
Member since: Oct 02

Posts: 3409
Location: Mississauga
Post ID: #PID

Posted on: 11-04-07 10:07:47

Quote:
Originally posted by JRF

You mean while filing taxes or right at the start itself.

Quote:
Originally posted by BlueLobster

Get a good accountant! My two cents.

I would recommend at the start. Besides taxes, you need to file GST on a quarterly basis.

As well, the accountant would be able to best advise you on your setup right from the start so that you can reap the tax benefits of being incorporated. You don't want to find out at the end of your fiscal that you could've done something differenlty to save big on taxes.

-----------------------------------------------------------------
Are you there?

Contributors: JRF(4) dp_jain(3) BlueLobster(2) jahnavi(1) disel(1) blabber(1) souvik_k(1) jughead(1) Dude(1) Charlie(1) brown_bear(1)

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Incorporating - anything to look for

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