Helping you become more financially savvy
 
 
 
How to incorporate for only $500 PDF
Personal Finance
Written by Guest Author   
Friday, 27 April 2012 09:30

Like most people, I first researched incorporating through lawyers and was shocked to see the cost. Did you know that most incorporation start ups don't require the expertise of a lawyer?

For a simple incorporation of a company with common shares structure and not many restrictions, both the lawyer and the accountant can set up the incorporation for you.  The accountant is fully aware of the tax consequences and will know how to set it this up properly.  The difference of this will be felt in  your pocketbook.

Normally a lawyer will charge from $1,200 to $1,500 to get a simple incorporation processed (this will include the government imposed incorporation costs of $325). While at the same time, an accounting firm or notary will get it done for way cheaper (between $500 to $600).  Speaking to an accountant

before incorporating is also very important (many companies miss this step), as it is all about how you set it up for tax purposes.  An accountant should be able to differentiate and advise on how to structure your shares, and your company along with tax implications, whether you need umbrella companies, investment protection and whether you need to incorporate a company or not.

We suggest contacting Mydhili Furtado at TM & Associates for inquiries about incorporating or taxes. Her office line is 604 597 5699.

We just saved you about $1,000. Have a nice day!

Own Your Life,

Guest Author

Guest Author -

Guest Author for OwnYourLife.ca...

Read More >>

 

Subscribe Here

 
 
   
    Like us on Facebook Subscribe to our RSS Feed

Search for articles

Deal of the Day

Private two hour Social Media Workshop for $125 (50% off!)
Get a one-on-one consultation with the same company that helps Future Shop, Park Royal and the Cities of Richmond and Burnaby with their Social Media marketing. What you get: A two hour social media/online marketing workshop that addresses your individual questions. Come with a list of items you want to discuss and receive recommendations regarding areas of your web marketing that need improvement. You’ll leave with tips on how to do things better, faster and with more results.

Sponsors

 
 
 

Current Articles

How to Maximize Cash Flow and Minimize your Mortgage PaymentHow to Maximize Cash Flow...
A client recently asked me if there were any tricks...
Read More >>
Improve your online results by scoring leadsImprove your online results by...
(Part 6 in a series)Tracking your conversion ratio: unique...
Read More >>
Your financial freedom business - the income statementYour financial freedom business -...
What is this? The Income Statement measures a company’s financial...
Read More >>
All your favorite blogs – in one placeAll your favorite blogs –...
Google has so many ridiculously useful tools available that are...
Read More >>
RRSPsRRSP's
This week’s tip is cash flow dependent. If you are...
Read More >>
Goal setting and being held accountableGoal setting and being held...
Setting goals is unfortunately further than most people get and...
Read More >>
Improve your online results by knowing when your customer is ready to engageImprove your online results by...
(Part 5 of a series)Today's customer is usually quite knowledgeable...
Read More >>
3 different kinds of logos3 different kinds of logos
If you’ve read my last article on things to watch...
Read More >>

Authors

Chris Cook is an investment and insurance advisor specializing in RRSPs, RESPs, life insurance, critical...Read more >>
Tim Dickson is a financial advisor specializing in life, critical illness and disability insurance, RESP...Read more >>
Guest Author for OwnYourLife.ca...Read more >>
Tamara is a seasoned online marketing professional, with thirteen years of experience in the web design,...Read more >>
Born and raised in Vancouver, B.C., I am an analyst currently based out of Toronto, Ontario...Read more >>
Mortgage broker Jessi Johnson specializes in educating his clients in phases; starting with buying your...Read more >>
View all authors