Should Your Client Incorporate? Things to Consider
Wednesday, September 20, 2023
11:00 AM - 12:15 PM
This will be a guided discussion. Session facilitator Allan Loiselle will pose the following questions and seek participant responses:
- What to tell your clients about incorporating?
- What are the most common reasons given to incorporate?
- Do those reasons stand up in the real world?
- What are the reasons to not incorporate?
- When does incorporation make sense?
- What is the relationship between the corporation and its owners?
- Post incorporation, does life simply carry on as before?
- What changes are there in the relationship with the owner?
- What changes are there in the relationship with tax authorities?
- How are shareholder / corporation transactions handled. How does this differ from a proprietor?
- How is the working owner of a corporation compensated?
- What are the advantages of dividends vs. salaries vs. occasional cash drawings?
- Why is it important to maintain a credit balance on the Shareholder’s account?
- Taking care of the minutia
- What should the share structure of the small business corporation look like?
- What should be in the Articles of Incorporation? And in minute book?
- Who prepares these documents? What is your role as bookkeeper?
- What are the opportunities for value-added service?
International Room - BC