Canadian Content: Incorporating a business

I am in the consulting business and would like to have some advice on incorporating. Basically, I want to spread the income among family members so that the tax on each one of us becomes less.

I have obtained the necessary forms from the local registry for incorporating and would like to know whether I should add my family members as directors or shareholders. At the end of the day, I want to pay dividends. Basically I want the family to end up paying less tax. Also please advice the advantages between a numbered company and one with a name. Also please address other issues of importance on annual tax returns and other things. Please advice and THANK YOU.

Anthony

Reply to
not disclosed
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Read the Canadian law books Anthony. They should be found at any law library in Canada. Most are open to the public for free. Find the right law book on corporations, find the right page showing that law, and photocopy it.

That law applies to anyone in Canada starting up a corporation. It's best to go right to the law book rather than read what may be "an opinion about corporate law" that someone puts up here in the alt.lawyers newsgroup.

Reply to
Future America

YOu should consult an attorney specializing in corporations creation and an accountant. In person.

Stephanie

Reply to
S.M. Serba

With his current knowledge and experience he could waste weeks, months (years!) trying to find the information, then understand it, then make the decisions, and finally implement his decisions.

Agreed, he should not make his decisions based on advice in these newsgroups - EXCEPT for the following: consult a competent professional accountant.

"Future America" wrote :

Reply to
!-!

You should take the advise and see a professional accountant. You are treading into a mine field. If you pay dividends to someone under the age of 19, you will be hit with the kiddie tax (that is at the highest personal tax rate).

PROFESSIONAL ACCOUNTANT

Reply to
Jim Williams

KIDDIE TAX???? What crap!

From: A Real PROFESSIONAL ACCOUNTANT!

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Reply to
Charlie

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