INITIAL BUSINESS ADVISORY:
You have got a nice business idea!!!!! ok… Great…… But not sure what to do first? where to start? Absolutely, you do not need to worry. At Alvox Accounting & Tax Services we help our existing and new clients to translate their business idea in to a profitable business venture.
We start discussions with our clients from scratch:
· Listen carefully the business idea
· We do the SWOT analysis (Strengths, Weaknesses, Opportunities and Threats)
· Discussion about finances/investment
· Formation of Legal Structure
· Government Requirements
· Business plan Preparation
· Tax Planning
· Marketing Matters
· Customers and Suppliers
· Question Answer
Remember!!! our initial business consultancy is absolutely FREE and Confidential. There is no obligation or commitment to you. So take a first step and contact us today.
Business Management consultancy Service is one of the services provided to our business clientele to improve the efficiency productivity as well as profitability through the analysis of problems deficiencies of existing organizational procedures and processes. Alvox Accounting & Tax Services is helping organizations to improve their performance, primarily through the analysis of existing organizational problems and development of plans for improvement. Organizations may draw upon the services of management consultants for a variety of reasons, including gaining external advice and access to the consultants’ specialized expertise.
As a result of our exposure to and relationships with numerous organizations, we are also said to be aware of industry “best practices“, although the transfer-ability of such practices from one organization to another may be limited by the specific nature of situation under consideration.
Alvox Consultants may also provide organizational change management assistance, development of coaching skills, technology implementation, strategy development, or operational improvement services.
A corporation (also called “company”) is a legal entity that has its own legal personality which is distinct from its owners (called shareholders) and the individuals who manage and run its affairs and business (called directors and officers). The creation of a corporation occurs following the proper filing of Articles of Incorporation (also called a Charter or Certificate of Incorporation) with the relevant government department or authority.
A corporation consists of shareholders, directors and officers. Shareholders, as the name implies, are the ones who hold (i.e., own) the shares in the corporation. By reason of the votes that are usually attached to the shares, the corporation is controlled by shareholders. If there is only one shareholder, that person has absolute control of the corporation. If the corporation has numerous shareholders, control of the corporation depends on who has a majority of the voting shares. However, the shareholders do not directly manage the corporation. They exercise their influence by electing and removing directors and approving or disapproving major corporate decisions.
Alvox Accounting & Tax Services has enriched experience of creating different types of incorporation like professional corporations those deals with specialties and variety of professionals in federal and provincial level. We empower clients with deep knowledge and awareness about advantages and features of incorporation before taking their decisions.
The advantages of incorporating a business are tied in to the corporation’s separate legal personality and limited liability. Some of the advantages include:
- Limiting the liability of shareholders for the debts, obligations and liabilities of the corporation to the amount of their initial investment to purchase shares in the corporation. In contrast, a sole proprietor or a partner could potentially lose personal assets beyond those invested in the business.
- It is possible to separate the owners, directors and employees of the business within a corporation, whereas a sole proprietor is the owner and manager of the business, and cannot be his or her own employee.
- A corporation allows the business to attract and motivate employees and management by allowing for partial ownership of the corporation.
- Rates of taxation within the corporation are generally lower than personal rates.
- It is possible for a corporation to merge or amalgamate with another corporation.
- Corporations also have perpetual existence which means that shareholders, officers and directors can come and go without affecting the distinct legal personality of the corporation.
Charitable organizations often incorporate as not-for-profit corporations to enjoy similar advantages.
Some of the disadvantages of incorporation include the initial higher cost of incorporating a business relative to the lower cost of starting a sole proprietorship or a partnership. There are also on-going costs associated with annual filings, tax and record keeping requirements. Many businesses are willing to bear these costs in order to have the advantages of limited liability and separate personality.
BUSINESS NAME REGISTRATION:
If you want to operate your business under a specific name other than your personal legal name then you have to register that specific business name by law.
At Alvox Accounting & Tax Services we help our clients to register their business names.
Before you register your business name and you want to make sure that your proposed name does not exist, not similar or confusing with any existing business name. we can search the availability of your proposed business name in all over Canada. We are expert in name search, we can tell you that your proposed business name is confusing or similar to an existing name or not so that you can avoid any legal action from the existing owner of a business name.
At Alvox Accounting & Tax Services, you can get your business name registered as Sole Proprietorship or partnerships. We can also help you to write partnership agreements as well.
Contact us today for Free Initial Consultancy and see how professional and experienced people are we.
A professional corporation is a corporation engaged in providing professional services where a member of a profession governed by its professional body allows its members to practice through a corporation as opposed to a sole proprietorship or partnership. Each professional governing body may have its own set of rules requiring certain formalities to be respected. Some of the typical requirements of professional corporations are mentioned below. However, it is suggested that you contact your governing body before you proceed with the incorporation of a professional corporation.
Professions that can incorporate a professional corporation?
Each province has different laws and rules as to which professions have governing bodies. Generally, professions that can incorporate a professional corporation include: Accountants, Architects, Attorneys, Physicians, Dentists, Veterinarians and Engineers among others.
Incorporation and Operation
A professional corporation resembles a business corporation, requiring compliance with corporate law and the rules of professional licensing bodies. A professional corporation is formed in the same manner as a business corporation, except that it typically has one or more of the following additional limitations, depending on the provincial/Territorial jurisdiction:
1. All shares of stock of the corporation (or a minimum percentage) must be owned and held by individuals licensed in the profession of the corporation.
2. At least one incorporator must be licensed in the profession.
3. At least one director (or a majority, or even exclusively) must be licensed in the profession.
4. The articles of incorporation, in addition to all other requirements, must limit the activities of the corporation to the profession.
5. The professional corporation may be required to obtain from the appropriate professional body a certification that the shares of stock are owned by individuals who are duly licensed in the profession.
6. Professional corporations are typically required to use the name of the professional as part of the corporate name. They are also required to have the words “Professional Corporation” as part of its legal name.
At Alvox Accounting & Tax Services we have all necessary knowledge and experience to incorporate a professional corporation. Contact us today for more information and necessary paperwork to start with.