Smartax provides a wide range of business services. To learn how Smartax can help your business, please select the link below:

        Business Registration and Setup

        Business Start-up

Business Registration and Setup:

    Register your business name.

    Complete incorporation on your behalf or provide you with full incorporation kit. 

    Determine what will happen to your current business losses and future profits.

    Determine what business assets and goodwill to transfer to the corporation.

    Choose a fiscal year end or calendar year end and when to incorporate.

    Develop a mix of salary, dividends and bonuses to be paid to yourself and others.

    Set up company books, records and government filings.

    Facilitate management decisions towards a successful business.

	Pros.	Cons.
Proprietorship	Easy to start     Low start-up costs     Low regulations     Owner controls decision making     All profits to owners     Tax advantages     Minimal working capital     Business losses can be claimed on	Unlimited liability     Difficulty in raising capital     Higher taxation rates with higher income     Lack of continuity     Business reliance on self     May be difficult to sell
Partnership	Easy to start     Low start-up costs     Additional sources of capital     Tax advantages     Limited regulation     Broader management base and complimentary talents	Unlimited liability     Difficulty in raising capital     Divided authority     Suitable partners may not be available     Conflicts between partners     Partners can legally bind each other     Lack of continuity     Profits are smaller per share
Corporation	Limited liability     Possible tax advantage     Ownership is transferable     Continuous existence     Specialized management     Separate legal entity     Easier to raise capital     Capital gains exemptions	More expensive to set up     Closely regulated     Extensive record keeping     Dividend taxation     Shareholder liability     Personal guarantees can undermine limited liabilities

New business start up

We can get you started. We will help you sort through the various legal and tax requirements specific to your circumstances, including proprietorship, partnership or corporation choices. Design and set up an appropriate bookkeeping system, either manual or computerized.

Consulting for business

We will assist in loan application preparation, help you design processes to increase business efficiency, lend an ear to discuss problems and we can provide mediation services in some circumstances. helping in your CASH FLOW & PROJECTION statements to get financing a business loan.

    Cash flow tracked monthly.

    Annual budgets. 

    Line by line expense analysis for cost savings.

    Payment plans for creditors.

    Consolidation proposals to "start new".

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