I’ve been asked many times how should I structure my business… While there is no single right or wrong answer its your business and you should be aware of the issues. You can incorporate on your own but it is better to have your lawyer or your accounting professional go over for whats best in your situation for your business. The simplest model is the sole proprietorship. There could be tax benefits if you incorporate your business It costs more to incorporate and keep separate books There can be more liability to an owner of a sole proprietor.

Once you get married change your status as soon as possible, because benefits such as the Child tax, and the GST/HST credit will be affected. The government will recalculate your benefits based on family information and net income. Benefits will be adjusted the following month you status changes. If you do not report this change immediately and you wait until tax time, there could be a bill owing to the government with interest.

You have a vision… What is your goal… As a small business owner you are pulled into many directions. You need to set goals and stick to them. Set the Goal, Make the plan, Work on the plan, review and stick to it… You will reach your goals.

In the mind we create Success, as the business owner you must completely believe that you will be successful. Your vision of your business must be clear, bold, come alive and be 3D at all times. Your mantra MUST be you will succeed, but not only you but also your employees… Communicate your vision to everyone. Remember positive energy is contagious, excitement about your ideas, products will multiply. The group will propel the company through good times and challenge