Various services are offered to corporations and businesses, such as:
- Annual minutes
- Shareholder agreements
- Partnership agreements
- Buying and selling a business
You are not sure if you should incorporate? Consider the following:
If you have decided to incorporate, there are other issues to consider and upon which I can provide advice:
- With a corporation, the creditors of your business can generally not seize your personal assets, thus reducing your personal liability
- With a corporation, the income earned is taxed at the lower small business Canadian controlled corporate rate
- With a corporation, it may be easier to transfer or sell your business, given that you simply need to transfer the shares of the corporation to the new owner as opposed to transferring each asset of your business
- With a corporation, you may be eligible for a $500,000 capital gains exemption at the time that you transfer or sell the shares
I usually charge a flat rate for an incorporation. I encourage you to call my office at 705-495-8554 to obtain further information regarding your intended new corporation and to discuss the cost.
- Creating an Ontario corporation vs a federal corporation
- Using a numbered company vs a specifically named corporation
- The importance of entering into a shareholders agreement with your business partners
- The selection of shareholders, directors and officers
- The returns required to be filed with the government
Shareholder and Partnership Agreements
If you operate your business with other persons, it is wise to enter into an agreement with your business partners, to specify various terms regarding your business relationship. Have you stopped to think how one of the following major events can affect the ongoing operation of your business?
In a shareholder or partnership agreement, you can lay down the framework to deal with such events, thus creating more predictability and less strain and cost to your business. It is strongly advised that such agreement be prepared by a lawyer and that all parties be independently advised prior to signing such agreement. I would be pleased to meet with you to discuss how to best design such an agreement to meet your needs.
- Separation and marital conflicts
- Internal disagreements