Choosing an accountant for your business is always a delicate endeavour. It’s incredibly important for your accountant to understand your business thoroughly, inside and out, backwards and forward. So, for some non-traditional businesses (i.e. professional blogger), this can be tricky to say the least. A post titled How to pick an accountant for your onlineContinue reading “How to pick an accountant for your online business”
Tag Archives: incorporation
Rolling assets into a corporation and deferring the capital gain
Generally when a disposition of capital property occurs, a gain or loss is recognized. Occasionally the disposition results in no real change to the economic interest of the property, like when an individual transfers property to a corporation they own. A rollover provides a way to defer the gain or loss. Section 85 of theContinue reading “Rolling assets into a corporation and deferring the capital gain”
Incorporate or not: It’s the investment
A small business usually starts out as a sole proprietorship, owned and operated by the founder personally and reporting business income on their annual personal tax return. But as the business grows, the question of incorporation will always arise, and there are several factors to consider when this happens. The most important single factor, inContinue reading “Incorporate or not: It’s the investment”