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Forming a business entity
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24/02/2012 15:07:20
 
 
À
24/02/2012 14:32:31
Mike Cole
Yellow Lab Technologies
Stanley, Iowa, États-Unis
Information générale
Forum:
Business
Catégorie:
Contrats & ententes
Divers
Thread ID:
01536362
Message ID:
01536492
Vues:
57
We don't have LLCs in Canada, I set up a corporation about 20 years ago, that's worked well for me. I think all told it was about a grand to set it up, I think the price has actually come down over the years due to increased efficiency and competition.

It's worth noting that an actual corporation, even if it's just a shell, has value. It's an asset, so you're getting something for your initial outlay. I'm not sure that's true for an LLC.

>Thanks. I'm probably going to speak to an attorney in the next week or two. It just irks me to have to pay this money up front to form a business entity for a business that isn't a prime source of income and won't make a lot of money up-front. That's trending awfully close to my personal funds, and that's not a good thing. :-)
>
>>I can't recommend that. I've heard too many horror stories about people that used an accountant to setup their business and the advice, while accurate, wasn't complete and it turned out badly.
>>
>>My advice..
>>
>>- talk to an attorney that specializes in small business
>>- then talk to a good accountant that also has the same specialty
>>- finally, find a good IP attorney to help draw up contract boiler plate. There are too many nuances of IP law that most attorneys won't know about.
>>
>>
>>>That or a good tax guy - one way or another you want information specific to your state. That's what we did. It was very inexpensive to become incorporated.
Regards. Al

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