Wednesday, April 30, 2014

For One Day Only We Pay Your Professional Fee!

After weeks of preparation, the tax season has finally come to a close and we want to celebrate by paying the professional fee on your next business incorporation.

On May 1st we will cover the cost of the professional fee ($99 value) when you incorporate your business with*

Incorporating your business protects you and your shareholders from debt and liabilities associated with your company and can help you save on taxes!

For more information on the advantages of incorporating, click here.

To take advantage of this offer, simply use the Promotional Code CC99INC2014 before submitting your incorporation order. The promotional code is valid on May 1st 2014 only.

Click here to start the order process.

*Plus government fees and optional products and services. Does not include non-profit incorporation. 

Wednesday, April 23, 2014

Named vs. Numbered Corporations

Choosing a name for your business can be a tough task. Not only do you need to come up with something distinctive and original that describes your company, you also have to make sure that the name isn’t similar to any other named corporation out there. Each jurisdiction has its own set of requirements for names and this can lead to a frustrating process.  Sometimes your first choice just doesn’t cut it and you have to go back to the drawing board.

 Numbered corporations allow you avoid delays and expense involved in searching for and reserving a corporate name. So if you need to incorporate quickly, this is a good option. You would be required to use your incorporated number for any legal matters or relations (i.e. contracts, government filings), but you are able to register a trade name and be known to your customers as operating under such trade name. Or, you can always file Articles of Amendment at a later time to change from a numbered to a named corporation.

If you’re set on having a named corporation, make sure you have at least 3 possible options for your name.  Don’t put all your eggs in one basket or the outcome may be very disappointing! Having variations of your name submitted allows for a better chance that at least one will be approved and you’ll avoid the back and forth paperwork, time and expense of re-submitting names. Stay tuned for our blog post on how to choose a corporate name, for tips on best practices when coming up with a name that suits your business AND the legal requirements.

There are positives and negatives to choosing between a named and numbered corporation and it is dependent upon the objectives of the business and its shareholders. For the best outcome, weigh your options carefully and create a plan of attack before you begin.

For more information, visit our website at !

Wednesday, April 16, 2014

Canadian Corporate Taxes

How to Maximize Your Return

It’s that time of year again –the dreaded tax season.  For business owners with incorporated corporations whose fiscal year has ended, this means having to file two separate returns – personal and corporate. It’s a daunting task to say the least, which is why many businesses chose to hand over their paperwork and receipts to a trusted accountant. But for those of you who are do-it-yourself types, here’s a guide to help you maximize your corporate tax return.

Type of Corporations

There are various types of corporations in Canada, all of which are subject to tax rates dependent upon corporate status. The corporations that have the lowest tax rate are Canadian-controlled private corporations (CCPCs).  These are entirely private corporations controlled and operated within Canada. CCPCs are eligible for the Small Business Deduction which, at this time, stands at 11%, the lowest tax rate available to corporations. All other corporations that do not fall under this category, whether private or public, are taxed at a higher rate. It is worth investigating at the outset the potential of having your business structure set up as a CCPC in order to benefit from the deduction.

Corporate Tax Credits

Research and Development Tax Credits: To qualify for an R&D tax credit (or the SR&ED Program) your company must be involved in experimental development, applied research, basic research and support work which would lead to advancement or address uncertainty in technological and scientific areas. This can encompass a wide range of R&D and is particularly useful for tech and environmental start-ups that are developing new products or improving upon existing products in the marketplace.

Tax Credits for Small Businesses: In addition to R&D tax credits, Canadian businesses can benefit from a range of tax credits for small business. Some credits are dependent on jurisdiction or depend upon industry, while others are Canada-wide and not industry-specific. Tax credits include areas such as apprenticeship job creation, designated activities on qualified property, child care spaces and pre-production mining.

Corporate Income Tax Deductions
If your corporation doesn’t qualify for any tax credits, take a look at potential corporate income tax deductions, you may be surprised what can be included! Below are some examples:

·         Gifts to employees
·         Automobile expenses
·         Insurance
·         Office expenses
·         Mortgage interest & security
·         Business meals/entertainment
·         Conventions
·         Canadian advertising expenses
·         Accounting/legal services
·         Home-based business expenses

Taking the time to research all the available tax credit and deductions for your small business can definitely help you save money in the long run. Take advantage of the incentives the Canadian government provides small business – that’s what they are there for! Good luck and happy filing.

Monday, April 14, 2014

Free Shipping on Business Registration

If you’re thinking of starting a small business, now is the time!

Why not start small with a business registration? A business registration, or sole proprietorship, is the simplest form of operating a business - the registration process relatively easy and the start up costs can be minimal.

This week we’ll save you even more with FREE shipping on any business registration orders. From April 14-18 use the promotional code CCBR19SHIP* in your shopping cart to receive the free shipping discount ($19 value). 

Use the promotional code yourself or pass it along to the other entrepreneurs in your life!

Starting your business is easy with!

Click here to start the business registration order process or call 1-866-906-2677 for more information.

*Code valid from April 14-18, 2014. Discount for shipping costs valued at $19 for business registration orders only.

Wednesday, April 9, 2014

Averting Disaster – Do Your Research (Part 1)

I was recently privy to one of the worst branding disasters I’ve ever encountered. The effect on the team launching the product was near catastrophic and hindsight proved just how avoidable it all was. There are a few simple rules to a product launch and I’m hoping that my recent experience can shed a light on how to avoid this problem in the future.

The following story is true. Certain names and details have been altered to protect the privacy and integrity of those involved.

The Product

I work as a digital media consultant responsible for developing content for various companies that choose to market their business on the internet. A well-intentioned individual who runs a website and blog devoted to tea was looking to expand their audience by hosting an online tea conference bringing experts from all over the world to discuss everything concerning tea, called “The Tea Council”. The online conference would be composed of 30 presentations and interviews on various subjects as they relate to tea marketed for free over a one-week period, and available for sale thereafter through the blog and various affiliates for $29.99.

The Team

A tremendous amount of work is involved to put together one of these online conferences for which there are numerous benefits to the consumer. First, during the week of the conference the information is available for free. Second, there is no need to buy a ticket, purchase a flight, or book a hotel room in another city - the entire conference can be enjoyed from one’s bedroom. And finally, the information is available to the consumer in perpetuity. In order to create this product, a whole content team and marketing team need to be assembled to create the product and to put it out to the world. Web space for the “theteacouncil” was purchased and all content and marketing for the conference would be channeled through that space. A single online conference takes a solid 2 to 3 months to put together employing about a dozen individuals all trained in their specific discipline as well as coordinating with a large group of experts who all have a stake in how great the reach is for this conference.

My Role

As the one responsible for designing the content, it was my job to consult with our client on how to make the best use of digital media to communicate the information of an expert with an audience of lay people. An interview is conducted between the conference host and the expert that is recorded and edited, and then turned into a final podcast-type deliverable for the consumer. Those interviews are then transcribed, from which a power point presentation is created. This power point is then turned into a video and is matched with the audio presentation which itself is delivered to the consumer. All in all, for thirty presentations, on my end alone, it was about 100 hours of work.

How It All Broke Down in the Blink of an Eye

We were less than a week away to launch. All the content was in place, all the affiliates were on board, and initial pre-registrations had already taken place. Heavy traffic was already heading to the website and sales were already being made. The client received a cease and desist letter from the owner of a website called “”. After an initial review from a lawyer, although being reassured that the Council on Teas didn’t have much of a case, legal fees alone would cut significantly into the budget of the conference. The owner of the Council on Teas was also adamant that a deal could not be struck and that the Tea Council was in breach of a trademarked product and would be legally blocked from launching their product, and would face legal repercussions and be prosecuted to the full extent of the law, should they continue with their launch as planned.

 Lesson Learned

A simple Google search would have shown the existence of the Council on Teas company and their website, and the initial decision to launch the conference as “The Tea Council” had to be considered a terrible oversight. Even if the desired web space was available, it would have been preferable to do some initial market research and explore any websites and names that might have even been remotely similar to anything they wanted to launch.

Read on to Part 2 to find out what it took to finally get a completed product completely rebranded and launched.

Wednesday, April 2, 2014

How To Start a Non-Profit Corporation

The non profit sector is one of the fastest growing in North America today.  With over 15,000 registered charities in Canada alone, it is important for newly formed non profits to fill an existing need in the community.  Non profit organizations must have a clear understanding of their mission and goals in forming the organization in order to not impede on existing corporations and to find success as an organization.

Similarly to corporations, non profits need to also address the legal requirements associated with starting their organization.  Non profit corporations are required to have a board of directors.  Likely this will be a group of founding members of the organization.  The board should be established right off the bat so that all other decisions are made by those who have a vested interested in the corporation.  Mission, roles, responsibilities, headquarters and financing will need to be hashed out before any legal paperwork can be started.  Most importantly, the board will need to establish a name for the organization and whether to incorporate the organization, become a registered charity, or both.

After selecting and registering your corporate name, you may choose to incorporate your non profit.  Though not essential to do so, incorporating will give the organization a legal status and with it rights and responsibilities.  The process to incorporate a non profit is generally the same as a corporation.  You can incorporate federally or provincially and requirements are dependent upon the jurisdiction in which you incorporate.  The one difference is the option to also register for charitable status.

In order to be granted charitable status, you must apply through the Canada Customs and Revenue Agency by fulfilling a number of requirements. In order for an organization to be registered its purpose needs to either relieve poverty, provide advancement in education, advancement in religion, or benefit the community in certain ways in which a court has deemed acceptable.  The process can take up to 8 months to complete, but after completion your non profit will have the advantage of providing tax receipts to charitable donors as well as receiving certain tax deductions. 

Following these first steps will help your non profit corporation achieve success in its mission and future activities in the community!

Click here to find out more about non profit incorporation and to start the incorporation process!