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Is Incorporation Right For You?

Which Is The Right Structure For You? Consult With a Lawyer Now.

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    Is Incorporation Right For You?

    Confused about the different types of business structures available? Not all businesses need an expensive corporation. Here’s a quick list of the pros and cons of different types of business structures so you can select which business structure is right for you.

    different types of business structures
    (Click to enlarge)

    When you decide to start your own business, you need to determine what type of business structure best suits your needs. Business structures range from sole proprietorships, corporations, partnerships, limited liability partnerships or joint ventures.

    The most common forms of business arrangements are a sole proprietorship or corporation. But is that the right structure for you?

    F.A.Q’s:

    Which business structure is the most inexpensive to set up?
    The sole proprietorship.
    Which business structure protects you from personal liability?
    The corporation and professional corporation protect owners and directors from personal liability.
    Which business structure allows me to access the Lifetime Capital Gains Exemption?
    The corporation and professional corporation allow you to take advantage of the Lifetime Capital Gains Exemption when you sell your shares.

    Click here for more information about each type of structure.


    -Shira Kalfa, BA, JD, Partner and Founder

    Shira Kalfa is the founding partner of Kalfa Law. Shira’s practice is focused in corporate-commercial and tax law including corporate reorganizations, corporate restructuring, mergers and acquisitions, commercial financing, secured lending and transactional law. Shira graduated from York University achieving the highest academic accolade of Summa Cum Laude in 2012. She graduated from Western Law in 2015, with a specialization in business law. Shira is licensed to practice by the Law Society of Ontario. She is also a member of the Ontario Bar Association, the Canadian Tax FoundationWomen’s Law Association of Ontario, and the Toronto Jewish Law Society. 

    © Kalfa Law 2020

    The above provides information of a general nature only. This does not constitute legal advice. All transactions or circumstances vary, and specified legal advice is required to meet your particular needs. If you have a legal question you should consult with a lawyer.

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