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Starting a business is hard work. With so much to do, and so much riding on you doing it right, there’s no room for trial and error. The decisions you make now are the foundation on which your business will grow and it’s important that you make good, informed choices.
To help, we’re created our New Business Toolkit. It explains everything you need to know about keeping proper financial records, tracking and remitting your business taxes and complying with Revenue Canada regulations.
The New Business Toolkit will save you hours of research, and will help ensure that you don’t miss any important bookkeeping details. It’s absolutely free, just fill out the form to the right, or give us a call at (250) 334-3797 and we’d be happy to send you a complimentary copy of The New Business Toolkit.
One of the first major decisions you will have to make as you start your new business is the form of legal entity it will take. To a large degree this decision may be dictated by the way you have organized your operations and whether you intend to work on your own or in conjunction with others.
The form of entity you choose can have a significant impact on the way you are protected under the law and the way you are affected by income tax rules and regulations. There are three basic forms of business organizations. Each has its own benefits and drawbacks and is treated differently for legal and tax purposes.
Download the rest of Chapter 1: Selecting a Legal Entity.