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ARTICLE · 30 OCTOBER 2017

Five Pieces Of Tax Advice For Start-Ups

Gowling WLG
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Like many entrepreneurs, you started your business as a side project while you were still pursing your day job.

CanadaTax
Laura Gheorghiu
Laura Gheorghiu
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Tax is not always top-of-mind when launching your business; there are just so many other pieces to the puzzle to contend with. However, taking care of some basic tax matters at the beginning can help reduce your tax headache as your business takes flight.

I. Do elect to transfer your business assets to a corporation on a rollover basis

Like many entrepreneurs, you started your business as a side project while you were still pursing your day job. Over time, the business grew and developed, adding new collaborators and partners. You now have a team in place and are ready to devote all of your resources to it. You want to incorporate and have already determined the share allocation of each founder, employee and passive investor. However, have you considered how you will transfer the existing business to the corporation?

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