Thursday, May 31, 2007

Accountant Meeting

Met with an accountant this morning and it went beyond my expectations. Great advice and some extra things to think about.

I explained what I was looking to do, and he said that going the incorporation route didn't make sense unless you were making more than you were spending. Otherwise, it's just as easy to roll into a sole-proprietorship and max out on RRSP's come tax time. You can still get liability insurance as a sole proprietorship, which you'd probably want with an Inc anyway, so although there is extra protection it might be overkill.

So really...I don't "need" an accountant just yet other than bringing my taxes in for them to look over and do. This particular firm does alot of technology based companies, as well as contractors, which is excellent since they understand more about what I'm trying to do.

So we'll see...more to think about for sure...


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