Ontario Community Newspapers

Waterloo Chronicle (Waterloo, On1868), 23 Mar 2011, p. 15

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WATERIDOfllem-Wedrmdly.hlud123,20ll°ll Limit your personal liability H CT DB “5 “00 SAV' NGS ne of the fundamen- Corporation, and all officers - ta] benefits of incor- l | \ ll ( H i ] i and direcmrs ofthe corporaâ€" porating a business l“ lSl \l . tion are required to be is the limit on personal Iia- - \\ shamholders of that corpo- bility of the corporation's rationaswell. shareholders. If you are thinking of If you operate a business incorporating your profes- that has the potential for lia- sional practice. there are a J“ bility you can get product , few details you need to and service liability insur- know. First of all. you must â€" _ . ‘ ance that will cover you in be in the following profes- . . ‘ ‘ the event you are sued by slons: accountants, lawyers, . ' 13380 0 your clients. This insurance ‘ £3; healthcare practitioners 4. will reduce your personal (doctors. dentists. chiro- l financial exposure. but may w ROY pmctors optometrists, phar- not eliminate it completely. WEBER macists. massage therapists. _ That is why many small , dieticians. physiotherapists “ "1 business owners incorporate "QW Incorporate. but you etc.). social workers. and - ”a“, _ so that their personal “Fluke “We“ 10 the same veterinarians. Secondly. the . ' ‘ may,“ assets are not tied in and Family “WWW“? operat- name of the professional to, ~ ‘ . . exposed through their busi- mg as a 5019 PTOPl‘letOE 50, corporation must include ‘ will ‘ 4“ FinanCIng ness operation you need to keep the same the words "professional cor- -| bl Professional incorpora- level Of malpractice or error poration." and cannot be a aval a e tion offers the same tax and 01711351095 we on numberedcompany. ., advantages of incorporated YO?” practice m order ‘(0 If you are interested in "A .- self -employed individuals. hm“ your personal liability registering your professional if" Here are the differences, and exposure (0 Y°l_" P8!" corporation, you should however. professionalliabiliâ€" 50m“ 355991 . . Contact the Companies . 1 _ ty is not limited through The other thing this Branch of the Ministry of _.l hilt? incorporation and share» means ls that you cannot Consumer and Business holders of professional cor- have your $0“? or family Services for the Ontario porations are restricted to mem 61’s We as S are- incorporation requirements ‘ t ‘ , . ' members of the same pro- holders of your corporation. at 1.300.351.3223, 1â€"866-203-0532 .‘ BITCH EHU qy fession. The professronal moorpora- ... .. ”(PVC St" v ”it“ ‘ So what does this mean if tion legislation 02? allfotzs Roy Weben‘san adviser with you are a professional seek- one 0‘ more rnem 5 0 e the WaterlooSmallBusinm ”I _ I I . _ ' ing to incorporate? You can 231113 profession to be share Centre. E-mail him at Lfifii’: P:;-2:='JE§ET==E'=1==T§:3=M ° “e“ '" a meesswna' mmr@wwflwm zwzf‘uâ€"rega-‘mflr-zwzaanzzmzx ., ' ff" $34 ..-‘iA,7,-, ,\ : ' 4" ‘3 ':.E-:'>' " x _ Come in and see what's new at Home Furniture' ' - , , ‘ _,.": - A” i~ . , . -, . (5,1, WW“, {1 w 3 ‘ ~ ,, M , " w’fixg §«““' g - a _ $523 - 5a _ , a.” 7 " ": ' ' ii 1:44: . fflesmfi x :,- q i in??? . .~ J} [7 ‘ ‘ fig "4a: 2’2{\<$§E;.“\ \ -‘a_â€"' ' , 5, v ‘ '" fl ‘ ' ~’ 6 "" “a, s "1, a. 7 ’ §_ ' ' ’ . “ ” a "‘ ' t ~-. if _ ., A ' gr‘s‘fwr { ‘ / . _ , ‘f'tfi%mfi J i v ,, x, " w a. ~ t. n. . & ‘V’ 7. ,. , an, . . ' ., an» 0 - 1- 7 _ N1, Spring“ tin-with: i (it Waxing arr-pi iv? ll Ammo-u '. . » v4 .. ,. ‘... g r r v _ ‘ ..‘ , _‘. H o m e 0 fitchonAl‘ BOSCH a.“ -aor°,°|on E3 NOW EARN . AEROWLAN MiLES ' t e - t... from: or . “mm-fl ,

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