FAQs 
| Leasing acts as a separate line of credit. Leasing will preserve cash and existing lines of credit that are critical in today’s economic climate. And, there are tax deduction benefits associated with leasing... | |
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You’ve got questions; we’ve got answers.
| While there are a number of things to consider in making this decision, there are two primary considerations: personal liability (you are personally liable for the debts and obligations of the business), and income tax planning... | |
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| Generally speaking, you do not need a general business license to operate a business in Ontario. However, there are a number of “regulated” industries that require businesses to have a license to operate. This includes companies such as HVAC, construction and certain food services or restaurants... | |
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| Once you have selected a business name, you need to determine whether the name is available or whether it is already in use by another business. This is typically done by obtaining what is called a NUANS Search. We strongly encourage you to have your lawyer advise you on this... | |
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| Most businesses in Ontario must register with WSIB within 10 days of hiring their first full- or part-time worker. It's the law!… | |
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| Well, its depends!! Some businesses are exempt and for some it just does not warrant the cost of tracking this information… | |
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| Employers can be liable to CRA for CPP, Unemployment Insurance (“UI”) and the required payroll tax deductions on sub-contractors… | |
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| Typically 6 years from that date of your last fiscal year… | |
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